Jackson National Life Insurance v. Lovallo

On motion for summary judgment, the trial judge ruled that Cora Joy Lovallo was, by virtue of a dissolution decree, the equitable owner of a ten-year, renewable, term life insurance policy her former husband purchased from Jackson National Life Insurance Company and, for that reason, individually entitled to notice, as the end of the original term approached, of her right to renew the policy.1 Ms. Lovallo became the equitable owner of the policy, the trial judge concluded, as a result of the decree incorporating the terms of the marital settlement agreement she entered into with her former…