Transamerica Settles Cost of Insurance Increase Litigation
In 2015 we reported on a Transamerica cost of insurance (COI) increase on a block of universal life policies and illustrated the 40% increase in COI on one policy affected raised the annual carrying costs to maturity for that policy from $36,400 to $81,595. That cost increase led to three separate class action lawsuits that were consolidated into one claim in November of 2016. Preliminary [...]