American-Amicable Life Insurance Co.

A lawsuit was filed on behalf of 42 states, the District of Columbia and Guam against the insurance provider alleging improper sales of insurance and investment products to US service members. American-Amicable and its affiliates allegedly violated insurance and consumer protection statutes in the sale and marketing of certain life insurance products to 92,000 consumers. The term life policies, marketed as "Wealth Builder" or "Horizon Life," were sold primarily to military personnel and often were misrepresented as investment products. American-Amicable Life Insurance Co. has agreed to provide cash refunds and increased policy benefits totaling $70 million. (Aug-04-06) [DENVER BUSINESS JOURNAL]

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Published on Aug-7-06

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READER COMMENTS

Posted by
Kent Walker
on July 4, 2023

I signed up for your insurance in 1980 it a
Was payroll deduction when I was in the service I never heard anything from you after I got out

Posted by
S. Cobb
on July 4, 2021

I purchased the Wealth Builder policy in 1997 and never heard about a lawsuit. I have had an allotment taken from my pay since then. Will someone please tell me what my next course of action should be? Thank you so much.

Posted by
Melinda Heieck
on May 3, 2019

I never heard of a lawsuit at all and am still active duty. I am currently still paying monthly for the policy (life insurance / investment) via automatic pay deduction. Which the sales associate suggested back in Great Lakes. No one ever contacted me about a claim, or made an attempt to contact those stationed overseas about the company having legal issues. I have been a customer since 1999 and was told if I paid for 20 years, I'd get the some money back while the rest was being invested. Am I eligible for a settlement? If so, how do I make a claim? Should I keep paying till the 20th anniversary of the policy?

Posted by
Carole Wortman
on February 16, 2019

I contacted this company for a life insurance death benefit they are refusing to pay. I should have been contacted like many others, this was a policy sold to the military. Now they don't even want to pay what they are suppose to and the amount they claim is way less than what they are saying, They won't pay anything they did continue accepting payments. I have contacted our states Auditor and Insurance fraud office.

Posted by
. Ingerbore Dickson
on January 23, 2019

I never heard of a lawsuit at all. I am currently being charged monthly for the policy (Life insurance)

Posted by
Brunetta Robinson
on November 16, 2018

is this just for people that was in the service

Posted by
Dean Kerr
on November 12, 2018

I purchased a "Wealth Builder" policy while in the US Navy in 1997. The date of issue on the PPW states 7/1/1997. I lost a lot of money with this policy and was never contacted about the class action suit that was tried in court. Is it possible to get any compensation at this point?

Posted by
earlyere woods
on August 27, 2017

I never heard about a lawsuit and have not received any correspondence at all. I have been a customer since 1998. Am I eligible for a settlement and if so how do I make a claim?

Posted by
Fuglyfoot
on February 10, 2017

i bought the same thing while stationed in Germany. I didn't realize there was a lawsuit against these guys until I checked claimyourcash.org and saw I had an amount over $100 owed to me from them. I don't know how much as I just filed the claim. Check it out you don't have to sign up for anything to check. Just first and last name then it gives you a list of money owed to that name. You have to look for towns you lived in to narrow it down to you specifically. I sound like an ad but trust me (says the ad) jk.

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Posted by
jim j ward
on December 25, 2015

i had an account with thI purchased American-Amicable life inssurance under the "Wealth Builder" program. where is my money

Posted by
Thomas Glaser
on August 4, 2015

I purchased American-Amicable life inssurance under the "Wealth Builder" program in the 1990s while I was stationed at Fort Hood Texas. I do not recall ever receiving any sort of settlement from American-Amicable Insurance. Am I eligible for a portion of the settlement described on your web-page? Thank you

American-Amicable Life Insurance Co.

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