Insurance policy voided after premium deadline missed

February 23, 2024 Robert Abruzzese, Courthouse Editor
The New York State Supreme Court is shown, Wednesday, Oct. 7, 2020 in the Brooklyn borough of New York. (AP Photo/Mark Lennihan)
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Jacob Feldman’s appeal against Nassau Life Insurance Company was decided in the Supreme Court, Kings County, presided over by Justice Robin Sheares. Feldman sought a declaration that his $3,000,000 life insurance policy, insuring Henrich Feldman and issued in 2008, remained valid despite the insurer’s claim of termination due to nonpayment of premiums. The Supreme Court initially granted the insurer’s motion to dismiss Feldman’s complaint, based on the argument that all requisite notices had been duly sent to Feldman, informing him of the impending policy lapse due to the unpaid premium, with the final payment deadline set for Sept. 30, 2019.

Hon. Robin Sheares.Photo: Rob Abruzzese/Brooklyn Eagle
Hon. Robin Sheares.
Photo: Rob Abruzzese/Brooklyn Eagle

Feldman contended he had mailed the payment on time, but the insurer argued the payment was not received by the deadline, leading to the policy’s termination. The appellate court, upon review, modified the lower court’s order, treating the insurer’s dismissal motion as a request for a declaratory judgment in its favor. The appellate court concluded that the insurance company had adhered to the policy’s terms and applicable laws, finding no merit in Feldman’s claims regarding the premium payment’s timing and amount. Consequently, the appellate court affirmed the policy’s termination and remitted the case for entry of a judgment declaring the life insurance policy no longer in effect.

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