OK to buy life insurance with intent to resell it, Georgia court rules

November 7, 2022 by Steven A. Morelli

It is OK to buy life insurance on yourself with the intent to sell to a third party, according to a Georgia Supreme Court ruling in a case emanating from the HIV viatical era.

Even though the $500,000 term policy was purchased fraudulently in the 1990s by someone who did not disclose his HIV-positive status for the apparent purpose of reselling the policy, Jackson National is still obligated to pay the death benefit, according to the court’s ruling.

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Originally Posted at InsuranceNewsNet on November 1, 2022 by Steven A. Morelli.