INSURANCE

Executive Life Recovery Put at 86.2%: Policyholders of Executive Life Insurance Co. can expect to recover an average of 86.2% of their claims over the five-year term of the revised rehabilitation plan for the failed insurer, according to testimony in Los Angeles Superior Court. Witnesses explained the plan of Insurance Commissioner John Garamendi, who seized Executive Life in April, 1991. Policyholders who opt to cash out their investments when the plan takes effect would get an immediate payout of 59.3%, plus additional payments over the following five years, for a total of 80.6%, according to the testimony. Judge Kurt J. Lewin is considering the plan in a hearing that began last week.