Wells Fargo Bank, N.a., Appellants v. Pruco Life Insurance Company, Appellee

Summary

The court held that a life insurance policy with the required insurable interest at inception becomes incontestable after the two-year period, even when procured through a stranger-originated life insurance scheme. The plain language of the incontestability statute does not create a separate exception for such schemes, and any policy change must come from the Legislature. Justice Canady, concurring in result, agreed with the answer but would reserve whether an insurable interest at inception is a precondition to operation of the incontestability statute.