Conseco To Pay $27M For Hiking Life Insurance Fees

Law360, San Francisco (July 12, 2013, 9:20 PM EDT) -- A California federal judge said Friday that she plans to give preliminary approval to a deal worth up to $27 million between Conseco Life Insurance Co. and a class of policyholders who accused the insurer in multi-district litigation of increasing its fees in violation of their life insurance policy agreements.

Under the deal, Conseco customers can surrender their policies for a cash payout, can opt not to pay further premiums or fees in exchange for a reduced death benefit or can receive an additional accidental death benefit, according...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.