Rakes v. Life Investors Ins. Co., No. 08-2626

In an action claiming that defendant-insurer used inflated lapse rates to purposefully underprice its LTC insurance products and gain market share, summary judgment for defendant is affirmed where: 1) plaintiffs failed to show that their LTC insurance policies contained a fraudulent representation; 2) plaintiffs' claim for bad faith denial of benefits failed because plaintiffs were not alleging a denial of benefits; and 3) the additional discovery sought by plaintiffs was not relevant to the district court's decision.

Read Rakes v. Life Investors Ins. Co., No. 08-2626

Appellate Information

Submitted: March 12, 2009

Filed: September 18, 2009

Judges

Opinion by Judge Wollman