Prudential Insurance Co. of America v. Stephens

OPINION AND ORDER

CLARKE, District Judge.

This matter comes to the Court on plaintiff Prudential Insurance Company of America’s (“Prudential” or “the insurer”) Bill of Complaint and Interpleader. The facts are undisputed. On May 16, 1975, Hillman J. Alexander obtained from Prudential a policy on his life in the amount of $4,000.00, naming Margaret M. Alexander, his wife, as the sole beneficiary. On July 20, 1976, Mr. Alexander assigned ownership of this policy to his wife. Prudential approved this assignment on July 30, 1976, and, on the same date, Hillman J. Alexander changed the beneficiary…