Request Legal Help Now - Free

LAWSUITS NEWS & LEGAL INFORMATION

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]


Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.

Published on Aug-7-06


READER COMMENTS

Posted by

on
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

on
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

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

Posted by

on
is this just for people that was in the service

Posted by

on
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

on
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

on
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.

Posted by

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

Posted by

on
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

ADD YOUR COMMENT ON THIS ISSUE

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.

Request Legal Help Now! - Free