Policies Industry
The whole life insurance policies industry routinely argues that a party relying upon a lost instrument must prove the existence and terms of the policy not by the "preponderance of the evidence" standard usually applied in civil cases, but by a heightened "clear and convincing evidence" standard. Under this "clear and convincing evidence" test, policyholders would be required to show the existence and terms of the policy to a "high degree of probability."
