Viesturs Petersons v. Transamerica Life Insurance Company

I. INTRODUCTION AND BACKGROUND

Plaintiff Viesturs Petersons (“plaintiff”) filed this action against defendant Transamerica Life Insurance Company (“Transamerica”) and Does 1-50 in the Superior Court of the State of California for the County of Los Angeles on December 18, 2019. Dkt. 1-1, Exh. E (“Compl.”). On January 22, 2020, Transamerica removed this action to the United States District Court for the Central District of California. Dkt. 1. Plaintiff alleges that on June 19, 1986, Transamerica’s predecessor issued a universal life insurance policy (“the Policy”) with a face amount of $916,500.00 to plaintiff. Compl. 6—7. According to plaintiff, the Policy’s “annual premium amount was $14,826.00” and “was due to be paid for a period of twenty years|.|” Id. 9 8. Plaintiff purchased the Policy “because he wanted to make sure that his family would be protected if he unexpectedly passed away.” Id. { 7. Between June 1986 and March 2006, plaintiff asserts that he “satisf[ied] all premium payments owed under the Policy.” Compl. § 9. In addition, Transamerica applied additional monthly deduction rates (“MDRs”) against the…