Insurance,
California Supreme Court
Dec. 3, 2019
Ruling preserves life insurers’ ability to offer loans
The California Supreme Court held that life insurance policy loans are not subject to a provision contained in a 1918 initiative that prohibits lenders from compounding interest unless authorized in a document signed by the borrower.
In Wishnev v. The Northwestern Mutual Life Insurance Company, 2019 DJDAR 10528 (Nov. 14, 2019), the California Supreme Court held that life insurance policy loans are not subject to a provision contained in a 1918 initiative that prohibited lenders from compounding interest unless authorized in a document signed by the borrower. This ru...
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