December, 1994 – This case involved fraud in the sale of a life insurance policy. In this case, the insurance company’s agent told Plaintiff that if he would make his payments on the policy for a certain number of years, the policy would be paid up and good until his death. This was called a vanishing premium policy because the premium was to vanish at some point. However, the premiums never actually vanished and Plaintiff had to pay on the policy for years to come. The jury awarded this verdict to try to stop this type of conduct in the future.
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