Greenbrier Co. Woman Sues TransAmerica Insurance For Breach Of Contract
Lincoln National Life Insurance Company (Lincoln”), assignee of U.S. Patent No. 7,089,201 (the ‘201 patent”), sued Transamerica Life Insurance Company (Transamerica”) for infringement of the ‘201 patent. These courts reason that if the insurance company’s punishment for wrongly refusing to pay a claim, was merely being forced to pay that which was owed to the insured in the first place life insurance lawyers there would be little or no incentive for the insurer to act in good faith.
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That means that if a wife owns a life insurance policy on her husband where she was the beneficiary, if they got divorced and made no reference to life insurance in their divorce settlements, the life insurance company may skip over the wife pay the contingent beneficiary benefits even if she’s been paying the premiums the whole time.