OPINION AND ORDER
GARCIA-GREGORY, District Judge.
This matter is before the Court pursuant to cross-motions for summary judgment filed by defendant MONY Life Insurance, Co. ("MONY") on April 20th, 2006 (Docket No. 16), and by plaintiffs on May 17th, 2006. (Docket No. 25). For the reasons set forth below, the motion filed by MONY is GRANTED, and the motion filed by plaintiffs is DENIED.
FACTUAL AND PROCEDURAL BACKGROUND
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