PHL Variable Insurance v. Fulbright McNeill, Inc.

SMITH, Circuit Judge.

Fulbright McNeill, Inc. (FMI) appeals the district court’s2 grant of summary judgment in favor of PHL Variable Insurance Company (“PHL”). FMI was the beneficiary of a life insurance policy issued by PHL to Keith McNeill. After McNeill’s death, PHL sued FMI seeking *827rescission and cancellation of the policy, arguing that McNeill misrepresented the state of his health when he applied for insurance. The district court found that McNeill made a material misrepresentation and granted summary judgment in favor of PHL. We affirm.

I. Background

In February 2003, after an annual…