Wilmington Trust, National Association v. Ameritas Life Insurance Corp

Summary

The court held that a third party may have procured or caused a life insurance policy to be procured even when the insured participated in the transaction, if the third party effectively obtained or acquired the policy and the insured acted as the third party's instrumentality. Courts must decide that question based on the totality of the relevant circumstances rather than on any single factor, including who paid premiums, arranged the policy, controlled documents or the trust, and benefited from the policy. The court answered the first two certified questions and found it unnecessary to answer the third.