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Chawla, Irrevocable Life Insurance Trusts, And The Insurable Interest
Get Chawla, Irrevocable Life Insurance Trusts, And The Insurable Interest
D a long pedigree, the notion of "insurable interest" has, until recently, been given little thought by the planning community. That changed dramatically with the ruling of the U.S. District Court for the Eastern District of Virginia in Chawla v. Transamerica Occidental Life Insurance Company. 1 In that case, the court, applying Maryland law, determined that a trust established by the decedent insured did not have an insurable interest in the decedent's life, and therefore the policy issued by t.
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ILITs Related content
4-15-13) - TRUST CODE: INSURABLE INTERESTS
Apr 15, 2013 — Senate Bill 31 would amend the Insurance Code to specify that a trustee...
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