Civil Litigation,
Insurance
Oct. 5, 2018
Class of life insurance holders gets $195 million in settlement
A large purveyor of universal life insurance policies has agreed to pay class members $195 million to resolve claims the company breached its contract with policy holders by improperly raising monthly deductions, according to a proposed settlement filed Thursday in Los Angeles federal court.
A large purveyor of universal life insurance policies has agreed to pay class members $195 million to resolve claims the company breached its contract with policy holders by improperly raising monthly deductions, according to a proposed settlement filed Thursday in Los Angeles federal court.
The settlement involving Transamerica Life Insurance Company, pending approval by U.S. District Judge Christina A. Snyder, will affect nearly 7...
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