Grain Growers Membership & Insurance Trust v. Liquidator for the Universe Life Insurance

EISMANN, Justice.

This is an appeal from summary judgments construing insurance policy provisions regarding the amount of money that the *753insureds are entitled to receive upon termination of the policies. We affirm the district court’s construction of two of the policies and reverse it as to the third.

I. FACTS AND PROCEDURAL HISTORY

Universe Life Insurance Company (Universe Life) was a life and health insurance company headquartered in Lewiston, Idaho. Virtually all of the business of Universe Life consisted of group universal health policies issued to trusts formed by agricultural-related…