J.G. Wentworth, S.S.C., L.P. v. Safeco Life Insurance

Through a purchase agreement, an injured employee assigned her right to receive annuity payments from a worker’s compensation settlement to appellant for a cash payment. The employee agreed to change the beneficiary of the policy from her husband to her estate and to execute a will that would effectively transfer the estate’s interest in the continuing annuity payments to appellant. Pursuant to the agreement, the employee notified appellee, Safeco, of the change of beneficiary. When the employee died, Safeco refused to recognize the change of beneficiary and failed to make payments either to…