Principal Life v. Mosberg - STOLI on the Rocks

By Stephan Leimberg and Howard Zaritsky The story below concerns yet another case of "STOLI ON THE ROCKS." EXECUTIVE SUMMARY: A U.S. District Court held that insurable interest was lacking in the purchase of a life insurance policy and that it was therefore void from inception. Principal...

Ashkenazi v. AXA Equitable Life – Policies Procured by Fraud

By Stephan Leimberg and Howard Zaritsky "life insurance is designed to replace or preserve wealth or income that is lost due to an insured's death, rather than create wealth or income." Ashkenazi v AXA Equit. Life Ins. Co., 2009 NY Slip Op 33111U (N.Y. Sup. Ct. Dec. 16, 2009) , provides...