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Remedies Keyed to Tabb, 8th
Alexander Hamilton Life Insurance Co. v. Lewis
Citation:
550 S.W.2d 558 (1977)Facts
The Lewises brought suit against Alexander Hamilton Life Insurance Company for the face amount of two life insurance policies on their daughter’s life after she had been missing and her whereabouts unknown for over seven years, relying on the Kentucky statutory presumption of death. The trial court entered judgment in their favor for $14,436.79, which the insurance company paid. Subsequently, the daughter was discovered alive, and the insurance company filed a motion under CR 60.02 to set aside the judgment. After the Kentucky Supreme Court reversed the trial court’s denial of relief and remanded, the trial court received evidence showing the Lewises had spent the money on various expenses including paying off a note ($1,935), home improvements ($1,800), their son’s education ($3,000), automobiles ($3,155), and medical expenses and care for their returned daughter ($4,800). The Lewises had approximately $6,000 in cash deposits remaining, but their net worth substantially exceeded the amount received under the original judgment.
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