Fort Worth life insurance attorneys need to understand the 1980, Texas Supreme Court case, Life Ins. Co. of the Southwest v. Overstreet. Here is some relevant background information.
In February, 1972, Overstreet submitted his application to Southwest to convert a five-year term life policy to a life insurance policy with endowment at age ninety. The earlier policy provided that it would lapse on March 15, 1972. To effect the conversion of the term policy to the policy at issue, Overstreet, on… [read post