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LIFE INSURANCE LITIGATION
Sometimes life insurance disputes can become big stories. Here's what's been on people's minds the past few months:
Federal Class Action suit filed against Met Life of New York
In the wake of Met Life's suit against being deemed 'too big to fail,'the insurer's New York subsidiary has been hit with a complaint about 'shadow insurance' policies and demands that it reimburse premiums to policy holders. Read the full story here.
Kansas City Woman files class-action lawsuit against Fidelity & Guarantee Life Insurance Co.
In the suit, she is accusing Fidelity of purposely misleading consumers by moving liabilities into hidden accounts to create aruse of financial stability. The annuity plan sold to her was therefore much riskier than she was initially made to believe and far less valuable.
Casey Kasem Lawsuit
Both Kasem's second wife and his children have laid claim to the benefits paid out by his policy with MetLife. Due to Kasem's status as a public figure and the controversy surrounding him at the time of his death, MetLife filed the suit so a judge will determine who receives the payout from his $2 million life insurance policy. Read the full story here.
Lawsuit Filed In Suspected Husband-Killer’s $501,000 Life Insurance Policies
An Arkansas woman, Susan Fleck was accused and later found guilty of murdering her husband as he slept. Before her trial, the husband's insurance company filed a lawsuit against her and the administrator of Evan Fleck's estate. The company stated “A genuine brawl exists between a estate of Evan Fleck and Susan Fleck, such that any claims desert to a deduction of a word policies,” in the lawsuit. Read the full story here.
New legislation in Minnesota allows Investors to file lawsuits seeking to validate lawsuits before they mature
In most states, carriers may void life insurance policies for lack of insurable interest at any point, even after the two-year contestability period prescribed by statute. This loophole allows insurers to continue collecting premiums on policies for which they may never pay claims, and, for life settlement investors, creates a risk of a zero return on an otherwise sound investment. Read full story here.
Man charged in mother's death faces lawsuit from brother over life insurance payout
Jason Hachmeister faced charges for strangling his mother is also facing a lawsuit from his brother over the life insurance payout.Aaron Hachmeister filed the wrongful death petition "to preserve his claims and to avoid the two-year statute of limitations for wrongful death," his attorney, Robert Keeshan, wrote in the lawsuit.
Read the full story here.