WELTNER, Justice.
On May 11, 1981, John Hunnicutt was the owner and insured of a life insurance policy issued by Southern Farm Bureau Life Insurance Company. On that date he designated his wife, Frances Hunnicutt, as beneficiary of the policy. On May 29, 1981, he transferred ownership of the policy to her. Under the clear terms of the policy only the owner of the policy had the right to designate the beneficiary of the policy.
On March 15, 1984, the wife sued...
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