Facts

Dorothy Durbin sued her insurer Hartford Life Insurance Co., in connection with a single-premium adjustable life insurance policy she had purchased from Hartford's predecessor in 1988 through a relative, Garry Jenkins. The policy provided for a one-time payment of $100,000 and a face value of $326,000.

PLAINTIFF'S CONTENTIONS:
PPlaintiff alleged that the policy's terms allowed her to borrow funds against it, using the policy as collateral. In 2009, plaintiff learned that Jenkins had been arrested for defrauding an elderly couple. A review of her file revealed that she had allegedly taken out three loans against her policy in 1990 for $9,274, in 1992 for $8,894, and in 1997 for $30,000. Plaintiff denied taking out those loans, and contended that Jenkins had done so through fraudulent means. An investigator opined that there was credible evidence supporting plaintiff's claim that she neither requested nor received the loan proceeds. The investigator further concluded that plaintiff most likely did not receive the loans, but the investigator was unable to determine who did.

In 2011, plaintiff alleged that she requested defendant to make her policy whole. Defendant offered to pay off the third loan, which totaled $79,027 at the time, in exchange for a release, which plaintiff rejected. As a result, she sued defendant, asserting claims for breach of contract, breach of the implied covenant of good faith and fair dealing, and financial elder abuse.

DEFENDANT'S CONTENTIONS:
Defendant moved for summary judgment, arguing that plaintiff's claims were barred by the statute of limitations.

Result

The court granted Hartford's summary judgment motion, finding that her claims were barred under the relevant statute of limitations.

Other Information

FILING DATE: Jan. 9, 2013.