Adam Ernette (Associate-Chicago) and Edna Kersting (Partner-Chicago) co-authored "In re Estate of Yudin, 2014 IL App (4th) 130171-U," which appeared in the September 19, 2019, edition of DRI's Life, Health and Disability News. Adam and Edna analyze the dispute between the representatives of two estates over whether a key employee policy was an asset of the company, and subsequently the former owner's estate, even after the company had voluntarily dissolved. The court's ruling and section 224.1 of the Illinois Insurance Code are consistent with the majority of jurisdictions that acknowledge that an insurable interest in the continued life, health, and bodily safety of another need only exist at the time of the policy's inception and not at the time of the insured's death.
Read the Article
Originally Publish by DRI: Life, Health and Disability News
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.