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      "text": "In our view, this should be an open and shut case. We see no ambiguity and the contract clearly states that Mosten has the right to invest and that investment can be made at the guaranteed rate of 4.0% per annum.",
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      "text": "1. The Original Illustration of the Contract to the Original Policyowner: When the Original Policyowner received his contract, he received an 'illustration' (i.e., an example) of how the contract was intended to work.",
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      "text": "The Illustration contemplated that $12,000 would be paid into the Contract for 29 years... The sum of the cost of insurance was $224,640... the payments made into the Contract would exceed the total cost of insurance by in excess of $120,000.",
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      "text": "On its face, in plain English, the Carrier Fund seems to be an investment option. You can deposit premium, and if you don't meet the exempted test, those premiums go into the Carrier Fund and you can select an investment option up to twice a year.",
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      "text": "If the assumed return of 8% was achieved each year, the Illustration further indicated that the $348,000... would accumulate, at age 100, savings... in the amount of $22,123,092.",
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      "text": "We believe that a judge applying the standard in Ledcor and Sabean would agree. In Sabean, the court wrote 'an average person applying for insurance' should be the lens by which we interpret these insurance contracts.",
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      "text": "\"an average person applying for insurance\" — Sabean court decision; \"you may make additional premium payments at any time when this policy is in force\" — Mosten-Manulife Contract; \"We reserve the right to discontinue at any time any Investment Account except the Guaranteed Interest Account which We guarantee will always be available to You.\" — Mosten-Manulife Contract",
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      "text": "43 See page 3.3 of the Mosten-Manulife Contract. 44 See the court's decision in Sabean. 45 See page 6.2 of the Mosten-Manulife Contract. 46 See page 5.1 of the Mosten-Manulife Contract.",
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