Prudential Insurance Co. of America v. Lamme

OPINION

By the Court,

Thompson, C. J.:

The main issue on this appeal is the legal effect of a life insurance conditional receipt issued by the Prudential Insurance Company to Richard Lamme a few weeks before he died. His widow, Valerie Lamme, brought suit against Prudential to recover $25,000 as the beneficiary of a mortgage protection life insurance policy. The insurance policy was never issued. Prudential, however, had received Richard’s application on a form labelled Part I, the non-medical portion, had accepted the first quarterly premium payment of $52.64, and, in return, had given Richard…