TTSI Irrevocable Trust v. Reliastar Life Insurance Co.

TTSI Irrevocable Trust was the named owner and beneficiary of an insurance contract procured on the life of Verlee Ten-nant. After determining, at a summary judgment hearing, that TTSI did not have an insurable interest in Ms. Tennant’s life, the trial court held: (1) the life insurance policy was void ab initio, and (2) TTSI was not entitled to a refund of any premiums paid. TTSI appeals from the final summary judgment, contending that the trial court erred in denying its request for a return of premiums paid. We affirm. Where a party wrongfully procures a life insurance policy on an…