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  "documentTitle": "Manulife Financial Corporation (MFC)",
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  "authorName": "Carson C. Block",
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      "text": "Manulife argues that “premium” refers only to payments that could reasonably be assumed to fund the life insurance portion of the contract. However, the court could find that a policy owner would understand “premium” to mean any and all monies paid to Manulife, especially if an average insured viewed the policy as an investment (rather than just a life insurance policy).",
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      "text": "1. First, Mosten argues: (a) right to make additional premium payments; (b) no limit on Carrier Fund; (c) Manulife not entitled to refund premiums; (d) entitled to 0.85% investment bonus. 2. Second, Mosten claims: (a) lost tax status; (b) Manulife cannot transfer premiums; (c) Manulife must hold all funds in a single pool.",
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      "text": "Manulife argues that “premium” refers only to payments that could reasonably be assumed to fund the life insurance portion of the contract. However, the court could find that a policy owner would understand “premium” to mean any and all monies paid to Manulife.",
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      "text": "Sabean is also an interesting case. Similar to Ledcor, it involves interpreting an insurance contract. In Sabean, the court decided for the plaintiff and stated there was no ambiguity. In our view, Sabean stands for the view that insurance contracts should be interpreted in the same way the average person being insured would understand them.",
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      "text": "The insurer cannot rely on its specialized knowledge of the jurisprudence to advance an interpretation that goes beyond the clear words of the policy. The overriding principle for the interpretation of standard form insurance contracts is that where the language of the disputed clause is unambiguous, reading the contract as a whole, effect should be given to that clear language. The words used must be given their ordinary meaning, as they would be understood by the average person applying for insurance, and not as they might be perceived by persons versed in the niceties of insurance law. — Sabean decision",
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      "text": "40 See paragraph 12 of Sabean. 41 See the decision in Sabean.",
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      "text": "Mosten’s Claims against Manulife",
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