Insurable Interest – What Courts Look At

Life insurance lawyers will see fights over who is entitled to life insurance proceeds.  One of the fights is over whether or not the named beneficiary had an insurable interest in the life of the insured. The main case cited for dealing with this issue is a 1942, Texas Supreme Court opinion styled, Drane v. Jefferson Standard Life Insurance Co. In the Drane case, Harry E. Ezell, Jr. was named as the beneficiary under two policies insuring the life of Dorothy A. Drane.  Hugh Drane, the executor of Dorothy’s estate filed a lawsuit seeking to prevent Ezell from recovering the money and for the money to go to Dorothy’s estate. Continue reading

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