Anyone who purchased an indexed universal life insurance (IUL) policy.
What's Going On?
We have reason to believe that some insurance companies, including AXA Equitable and Pacific Life, may have used misleading financial return illustrations to sell these policies.
What You Can Do
If you purchased an indexed universal life insurance policy, fill out the form on this page. The attorneys we work with are trying to determine whether a class action lawsuit can be filed – but need to speak with IUL policyholders first. After you fill out the form, an attorney may reach out to you directly to explain how you may be able to help start a class action.
What's the Catch?
There is no catch. We've received information that suggests some indexed universal life insurance policyholders may have been misled when purchasing their policies and we're trying to connect them to attorneys who can help.
If you purchased an Indexed Universal life insurance policy, ClassAction.org wants to hear from you.
We have reason to believe that some companies, including AXA Equitable and Pacific Life, may have used misleading financial return illustrations when selling their permanent life insurance policies. Several consumer groups, policyholders, financial regulators and other insurance companies have complained about the practice – and now the attorneys we work with are looking into whether class actions can be filed.
Indexed Universal Life Insurance: How Could I Have Been Misled?
When someone purchases a life insurance policy, the insurance company may provide him or her with an “illustration” of the policy’s benefits. While not binding, this illustration serves as an “educated guess” as to what the policy will be worth in any given year. The attorneys we work with, however, tipped us off to reports within the industry that suggest some companies may be misleading their customers when putting together their financial return illustrations.
It is believed that some insurers are using current interest rates and costs to project policy benefits without taking into account how the performance of stock indexes and costs charged to the policyholder can fluctuate over time. Others may be representing a higher growth rate of the stock index than what most financial experts would believe to be reasonable.
How an IUL Lawsuit Can Help
If a lawsuit can be filed, indexed universal life insurance policyholders may be able to recover compensation for any harm they suffered in buying these policies. A lawsuit could also help enact change in the industry – and stop insurance companies from engaging in these allegedly deceptive practices.
If you purchased an indexed universal life insurance policy, you may be able to help get a class action lawsuit started. Just fill out the form on this page and one of the attorneys we work with may reach out to you directly. He or she may ask you a few questions about your policy and explain how you may be entitled to compensation.