Krueger v. Tippett

¶1 This is a dispute over the proceeds of a life insurance policy between the assignee and the named beneficiary. We agree with the trial court, although on different grounds, that the assignee is entitled to the proceeds. We affirm the judgment.

FACTS

¶2 Hal and Bonnie Krueger borrowed money from Jack and Blanche Tippett several times beginning in 1976. The loans were secured by real estate owned by the Kruegers. Hal Krueger also assigned “all rights, title and interest” in the proceeds of a $50,000 insurance policy on his life as “collateral security.” Clerk’s Papers 24; Ex. A. The assignment…