Surrogate Nora Anderson
Decedent’s executors sought payment of a balance allegedly due from insurer Hartford Life Insurance (HLI) under an annuity contract between it and decedent. HLI moved for summary judgment dismissing the petition arguing it was barred by the statute of limitations. Petitioners previously sued to invalidate the annuity claiming when decedent purchased the annuity she lacked capacity and was unduly influenced by the designated beneficiary. The beneficiary, pursuant to an agreement, assigned her interest in the annuities to executors. HLI did not distribute the death benefit even after a restrain was lifted. HLI issued a check to executors nearly 6 years later for over $750,000, and executors sued seeking the date-of-death value of the annuity for over $885,000, less the amount paid. The court stated when a contract claim was for the payment of a sum of money, the limitations period began to run when the party owed money had the right to demand payment. Here, it found executors’ claim for additional annuity proceeds was barred by the statute of limitations as the beneficiary had a right to demand payment of the death benefit on the eighth day after HLI received proof of death, or the fifth anniversary of decedent’s death.
