Law360 Canada ( March 29, 2018, 8:32 AM EDT) -- Appeal by the plaintiff, Alguire, from the dismissal of his action against the defendant, Manulife. The plaintiff owned a $5 million face-value life insurance policy issued by the defendant in 1982. The policy provided for guaranteed renewable insurance protection. By the time of trial in 2016, the policy's listed paid-up value was $13.4 million. The plaintiff alleged that the policy was specifically designed to provide an immediate $5 million in coverage, plus inflation protection ensuring growth of the value of the death benefit over the course of his lifetime. The defendant argued that the plaintiff never requested a policy that safeguarded against rising inflation, and that the paid-up values listed within the policy were mistakenly calculated on the wrong face value amount. The plaintiff sought declaratory and mandatory relief requiring the defendant to honour the policy's terms and listed paid-up values. The trial judge dismissed the action as lacking any objective air of reality. It defied logic to accept that the defendant prepared a special actuarial quote showing the paid-up values, and then agreed to increase them five-fold in exchange for equal premiums. The values listed in the policy reflected a common mistake. The plaintiff suffered no actual loss. The equitable remedy of rectification was available and was granted. The defendant was awarded substantial indemnity costs. The plaintiff appealed....