American General Life Insurance v. Schoenthal Family, LLC
Court of Appeals for the Eleventh Circuit
1Opinion of the Court
PRYOR, Circuit Judge:
This appeal concerns whether a statute of Georgia, Ga.Code Ann. § 33-24-7(b), allows an insurer to rescind a life insurance policy because the deceased insured misrepresented his net worth and annual income in his application for the policy. Samuel Schoenthal misrepresented in his application for a policy of $7,000,000 that his net worth was $10,700,000 and his annual income was over $150,000; Schoen-thal’s net worth, in fact, was $160,000 and his annual income was $7200. The district court ruled, as a matter of law, that American General Life Insurance Company was…
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