Niccole A. Naifeh, et al., v. Valley Forge Life Insurance Company, et al.

This appeal arises out of the interpretation of a life insurance contract. The trial court determined that the Decedent’s life insurance policy was in effect and had not lapsed due to Decedent’s failure to pay the premium due in January 2000. It ordered Valley Forge Life Insurance Company to pay the sum of $1,000,000.00 to Cathy Naifeh plus prejudgment interest of 8% per annum beginning on June 1, 2000. The lower court dismissed Valley Forge Life Insurance Company’s counterclaim against William McGowan, Jr. and Bill McGowan & Company. Further, it dismissed the claim of Decedent’s estate and Cathy Naifeh against Bill McGowan, Jr. and Bill McGowan & Company for negligent misrepresentation and their claims against Union Planters Bank. Finally, it dismissed the claims of Decedent’s estate and Cathy Naifeh against Union Planters Bank, William McGowan, and Valley Forge Life Insurance Company for violations of the Tennessee Consumer Protection Act. Valley Forge Life Insurance Company now seeks review by this Court. For the following reasons, we affirm in part, reverse in part, and remand for further proceedings consistent with this opinion.