VC Management, LLC v. Reliastar Life Insurance Co.

MEMORANDUM OPINION AND ORDER

REBECCA R. PALLMEYER, United States District Judge

Vestor Capital Partners, LLC (“Vestor”) had insured the life of its president, Brian Baker, for $5 million. But in October 2012, Vestor submitted paperwork to reduce the *978amount of the policy to $2 million. Just after Vestor submitted the necessary forms—but before the insurer, Defendant ReliaStar Life Insurance Company (“Reli-aStar”) had signed them—Baker died unexpectedly. ReliaStar has tendered $2 million in life insurance proceeds to Plaintiff Vestor Capital Management, LLC (“VCM”), Vestor’s successor. VCM…