A proposed settlement has been reached in a class action lawsuit against MetLife. If you owned a MetLife Children’s Term Insurance life insurance policy between March 15, 2001 and June 11, 2010, you may be entitled to receive a refund if the class action settlement is approved.
The MetLife class action lawsuit alleges the insurance company and its affiliates inappropriately collected certain charges or premiums related to Children’s Term Insurance Benefit Riders after the insured’s children had “aged out” of coverage. There are two subcategories of class members who can make claims for refunds under this settlement:
Reimbursement Class Members are those who owned and paid premiums or incurred charges for the Children’s Term Insurance Benefit Rider (“Rider”) issued with a Metropolitan Life Insurance Company, Metropolitan Insurance and Annuity Company, or Met Tower Life Insurance Company (“MetLife”) life insurance policy after the youngest insured child reached the age of age 25. These class members can submit a claim form to receive a full refund or policy credit for all premiums or cost of insurance charges paid for the Rider between March 15, 2001 and June 11, 2010 and after all children “aged out” of coverage.
Notice Class Members are those who owned a policy with a Children’s Term Insurance Benefit Rider and, as of June 11, 2010, the policy and Rider were in force and have been enforced for that least seven years. These class members may be entitled to receive a statement after their policy with the Rider has been in force for 20 years containing information on how to cancel their Rider or convert it to a separate life insurance policy.
All claim forms for the MetLife life insurance policy settlement must be submitted no later than November 1, 2010. This is the same deadline for exclusion requests to be submitted.
More information about how to file a valid claim for the Harvey v. MetLife Class Action Lawsuit Settlement, including downloadable claim forms, can be found at http://mlicctrcasettlement2010.us.
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