Request Legal Help Now - Free
LAWSUITS NEWS & LEGAL INFORMATION

Long-Term Insurance Suit Settled for $15 Million


This is a settlement for the Bad Faith Insurance lawsuit.

A class lawsuit filed in 2002 by Eric and Carol Chalgre, residents of Missouri who purchased long-term care insurance policies through Mutual of Omaha, American Heritage Life Insurance Co., and Wakely and Associates Inc., has been settled with the agreement of a $15 million fund.

The suit alleged that the defendants set initial premiums very low but did not tell the policy holders that they planned to raise the premiums substantially over time.

Long-term care insurance is meant to cover costs associated with continuous care of people with chronic, debilitating illnesses such as Alzheimer's disease, diabetes, Parkinson's disease and multiple sclerosis.

The settlement, $11 million of which will be paid by Mutual of Omaha and American Heritage, will cover some 1,669 Missouri residents.

APRIL-20-09: Mutual of Omaha, 2 other insurers, settle long-term care suit [KANSAS CITY: MUTUAL OF OMAHA, 2 OTHER INSURERS SETTLE]

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form.
Published on Apr-20-09


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