The policy will be in full force during this period. Judgment was entered on March 31, 2009, and Wilson timely appealed to this Court. Arguments on Appeal On appeal, Wilson argues (1) that Northwestern violated New York law when it failed to provide written notice for the cancellation of the policy and that the cancellation of the Whole Life Policy therefore was not effective; (2) Northwestern's bad faith in cancelling the Term Life Policy retroactively constituted a deceptive business practice under New York law; and (3) that Kenneth's cancellation of the Term Life Policy was not effective because (a) Northwestern's demand for an additional .00 constituted a “modification” of the Term Life Policy, and therefore this increase required the retroactive cancellation of the modified policy to be in writing under New York law; (b) any changes in the Term Life Policy, including a cancellation, constitute a “modification” required to be in writing under New York law; (c) there is a question of fact as to whether Kenneth's request for “refund [of] his last payment and [to] let the policy lapse” meant a refund of the payments back to February 2005 or whether Kenneth intended only to cancel the premium payments going forward from May 2005; and (d) Northwestern had a duty to correct the ambiguity caused by service of its May 23, 2005 notice advising Kenneth that his grace period would end on June 29, 2005. Starter Sportswear, Inc., 964 F.2d 186, 188 (2d Cir.1992). If the insured dies during the grace period, any overdue premium will be paid from the proceeds of the policy. Accordingly, the District Court granted Northwestern's motion for summary judgment, denied Wilson's cross-motion for summary judgment, and dismissed Wilson's complaint. Wilson does not challenge the District Court's ruling as to the applicability of the Dead Man's Statute, and we do not consider it here. Standard of Review The District Court's grant of summary judgment is reviewed de novo. Summary judgment may not be granted unless “the pleadings, the discovery and disclosure materials on file, and any affidavits show that there is no genuine issue as to any material fact and that the movant is entitled to judgment as a matter of law.” Fed.
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Click here to get your fast free quote Most states do not regulate life insurance in such a way that affects the policyholder right from the start, as they do, for example, with auto or health insurance.
In fact, state regulations come into play most often at the time of the claim, a subject that is beyond the scope of this website (we have, nonetheless, included some of the information concerning claims procedure in each state guide.)That being said, you should know that there are some provisions, such as the free look provision, which change form state to state.
It is also a good idea to know whether your state allows policy illustrations, and what the regulations concerning medical exams and privacy are.