Policyholders Knew Annuity's Terms From Start: Insurer

Law360, New York (September 26, 2011, 1:59 PM EDT) -- Equitrust Life Insurance Co. asked an Arizona federal court on Friday to grant it summary judgment in a proposed class action accusing the insurer of falsely promising policyholders bonuses on deferred annuity premiums, saying the policyholders knew the annuity's terms when they purchased it.

Equitrust sought summary judgment in the suit brought by plaintiff Paul Harrington, who alleges the insurer misled policyholders by telling them they would collect premium bonuses it in fact sucked up for itself and claims it implemented tougher and longer surrender charges...
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