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LOYALTY LIFE CO v. FREDENBERG

214 A.D.2d 297 (1995)

632 N.Y.S.2d 901

Loyalty Life Insurance Company, Appellant, v. Joanne A. Fredenberg et al., Respondents

Appellate Division of the Supreme Court of the State of New York, Third Department.

November 2, 1995

Attorney(s) appearing for the Case

Cook, Tucker, Netter & Cloonan, P. C., Kingston (Robert D. Cook of counsel), for appellant.

Maynard, O'Connor, Smith, Catalinotto & D'Agostino, Albany (Joseph C. Scala of counsel), for respondent.

CARDONA, P. J., MIKOLL, MERCURE and WHITE, JJ., concur.

CASEY, J.

In 1986 plaintiff issued a policy of insurance in the face amount of $1,500,000 on the life of defendant Roland A. Augustine with defendant Joanne A. Fredenberg as owner. The policy was part of an estate and financial plan intended to permit the continued operation of defendants' business agency if its sole shareholder and director died and financially provide for the survivors of Augustine. As written...

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