Case Explained: Wells Fargo Bank N.A., as Securities Intermediary v. Ameritas Life Insurance Corp

Court: United States Court of Appeals for the Eighth Circuit Filed: 2026-07-30 The eighth-circuit affirmed the district court’s grant of summary judgment in favor of Ameritas Life Insurance Corp., holding that the life insurance policy at issue was void as stranger-originated life insurance (STOLI) under New Jersey law. The court determined that New Jersey law governed the dispute because, under Nebraska choice-of-law principles applicable to life insurance contracts, the insured was domiciled in New Jersey when the application was filed and no state had a more significant relationship to the transaction than New Jersey. The court found that the policy was procured through a scheme involving premium-finance loans and straw purchasers with the intent to benefit third-party investors lacking an insurable interest, rather than for legitimate estate planning purposes. Consequently, the court concluded that Ameritas properly refused to pay the policy benefits and did not breach any contractual duties. The judgment of the district court remains in effect. Do It For The Case Law is a news reporting service. Nothing in this episode constitutes legal advice.