Edward E. Hancock, Cynthia A. Hancock v. New York Life Insurance Company

COX, Circuit Judge:

Appellants Edward and Cynthia Hancock appeal from the district court’s grant of summary judgment in favor of appellee New York Life Insurance Company (New York Life). For reasons set forth below, we affirm in part and reverse in part.

FACTS

In 1974, New York Life issued a “guaranteed renewable master hospital expense policy” to Mr. Hancock. The policy contained a provision entitled “conversion privilege for covered dependent children,” which provided that any dependent child whose coverage terminated because he attained his twenty-third birthday would be entitled to have…