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  "documentTitle": "Manulife Financial Corporation (MFC)",
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  "notes": "Legal analysis of a specific contract dispute involving 'Carrier Fund' and 'Fund Value' accounts.",
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      "text": "Based on our reading of the contract and basic principles of contract interpretation, we believe that Mosten's first claim has merit and potentially exposes Manulife to a significant amount of risk.",
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      "text": "Mosten argues: (a) right to make additional payments... (b) no limit on amount... (c) Manulife not entitled to refund... (d) entitled to 0.85% investment bonus.",
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      "text": "Mosten argues that 'the Contract is (and UL contracts generally are) a unique type of insurance product...'",
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      "text": "To refresh, under the terms of the Mosten-Manulife Contract, premiums can be paid to a tax-exempt account called the 'Fund Value,' which includes the life insurance and tax-exempt portion of the contract.",
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      "text": "In our view, Mosten's first claim is far more damning for Manulife than its second claim. If the court decides in Mosten's favor, the first claim opens the door and exposes Manulife to unlimited liability...",
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      "text": "Mosten argues that “the Contract is (and UL contracts generally are) a unique type of insurance product. It is neither term life insurance nor whole life insurance. The components of the Contract, which are the benefits provided to the policy owner, are both permanent life insurance protection and flexible investment opportunities. While one investment element is the ability to tax-shelter growth on certain funds accumulated in the Contract, this is only one of other investment opportunities under the Contract.” — Mosten Reply Brief of Law",
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      "text": "See paragraph 6, page 2, Mosten Reply Brief of Law, dated August 31, 2018.",
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