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Life Insurer that Relied on Order Naming Financial Guardian Cannot be Held Liable Where Guardian Allegedly Misappropriated Policy’s Proceeds

The Tennessee Supreme Court has ruled that a life insurance company acted in good faith when it relied on a facially valid court order establishing a financial…

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The Tennessee Supreme Court has ruled that a life insurance company acted in good faith when it relied on a facially valid court order establishing a financial guardianship for the minor beneficiary of the life insurance policy and paid the policy proceeds to the guardian. Therefore, the court determined, the insurer could not be held liable for breach of contract after the proceeds allegedly were misappropriated by the guardian.

The Case

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