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    Violeta Vs Insular Life

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    Eulogio took out a life insurance policy with Insular Life. He failed to pay the premium due on January 24, 1998. On May 26, 1998 he applied to reinstate the policy but still owed unpaid interest. He submitted another reinstatement application on September 17, 1998 along with payment but died that same day. On September 18, 1998 the agent forwarded the reinstatement documents to Insular Life but they were informed of Eulogio's death on September 21, 1998. Violeta, the beneficiary, filed a claim that was denied as the policy was not reinstated before Eulogio's death. The Supreme Court ruled in favor of Insular Life, finding that an insurable interest must

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    Violeta Vs Insular Life

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    ajdgafjsdga
    88 views2 pages
    Eulogio took out a life insurance policy with Insular Life. He failed to pay the premium due on January 24, 1998. On May 26, 1998 he applied to reinstate the policy but still owed unpaid interest. He submitted another reinstatement application on September 17, 1998 along with payment but died that same day. On September 18, 1998 the agent forwarded the reinstatement documents to Insular Life but they were informed of Eulogio's death on September 21, 1998. Violeta, the beneficiary, filed a claim that was denied as the policy was not reinstated before Eulogio's death. The Supreme Court ruled in favor of Insular Life, finding that an insurable interest must

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    Eulogio took out a life insurance policy with Insular Life. He failed to pay the premium due on January 24, 1998. On May 26, 1998 he applied to reinstate the policy but still owed unpaid interest. He submitted another reinstatement application on September 17, 1998 along with payment but died that same day. On September 18, 1998 the agent forwarded the reinstatement documents to Insular Life but they were informed of Eulogio's death on September 21, 1998. Violeta, the beneficiary, filed a claim that was denied as the policy was not reinstated before Eulogio's death. The Supreme Court ruled in favor of Insular Life, finding that an insurable interest must

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    88 views2 pages

    Violeta Vs Insular Life

    Uploaded by

    ajdgafjsdga
    Eulogio took out a life insurance policy with Insular Life. He failed to pay the premium due on January 24, 1998. On May 26, 1998 he applied to reinstate the policy but still owed unpaid interest. He submitted another reinstatement application on September 17, 1998 along with payment but died that same day. On September 18, 1998 the agent forwarded the reinstatement documents to Insular Life but they were informed of Eulogio's death on September 21, 1998. Violeta, the beneficiary, filed a claim that was denied as the policy was not reinstated before Eulogio's death. The Supreme Court ruled in favor of Insular Life, finding that an insurable interest must

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    of 2

    Sunga, Ferdinand C.

    3B

    VIOLETA R. LALICAN v. INSULAR LIFE ASSURANCE COMPANY LIMITED, GR No. 183526

    Facts:

    Eulogio applied for an in insurance policy with Insular life worth P500,000 with two riders both
    valued at P500,000. Violeta, his spouse, was named as the primary beneficiary. Eulogio was to pay
    P8,062.00 every 24th of April, 24th July, 24th of October and 24th of January of each year for 20 yrs.
    Eulogio failed to pay the premium that was due on January 24 1998 even after the grace period of 31
    days passed.

    On may 26 1998 Eulogio filed an Application for Reinstatement of his policy and deposited the
    amount of P8,062 to pay for the premium due on January 24 1998. However his Reinstatement could
    not be processed because he left an unpaid overdue interest valued at P322.48, Insular life instructed
    Eulogio to settle his unpaid overdue interest and file another application for reinstatement.

    On September 17 1998, Eulogio went to his agent Malaluan's house and submitted a second
    Application for Reinstatement and P17,500 representing payment for January 24 1998 overdue interest
    and the premium that became due on April 24 1998 and July 24 1998. Malaluan's spouse received and
    issued a receipt for Eulogio. On the same day Eulogio died of cardio-respiratory arrest secondary to
    electrocution.

    On 18 September 1998, Malaluan forwarded to the Insular Life Eulogio’s second Application for
    Reinstatement of Policy No. 9011992 and P17,500.00 deposit. However, Insular Life no longer acted
    upon Eulogio’s second Application for Reinstatement, as Insular Life was informed on 21 September
    1998 that Eulogio had already passed away.

    On September 28 1998 Violeta filed a claim for payment of the full proceeds of her deceased
    husband's policy which insular life denied claiming that Eulogio failed to reinstate the policy before his
    death.

    On October 11 1999 Violeta filed a Complaint of Death Claim gainst Insular life.

    Issure:

    WON Violeta complaint of death claim against Insular Life has merit.

    Ruling:

    No, Violeta's complaint has no merit. According to Sec 19 an interest in the life or health of a
    person insured must exist when the insurance takes effect, but need not exist thereafter or when the
    loss occurs.

    Eulogio's death occured even before Malaluan filed his Reinstatement of Policy, thus when the
    Reinstatement Policy was received Insular Life Eulogio no longer have insureable interest. Since Eulogio
    died before his Insurance Policy was approved by Insular Life, Violeta's complaint of death claim has no
    merit

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