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(something I have seen in the IUL space before) So they are using the term "blending" just to be technically specific for this case. Simple! Submit a claim. National Life Group is currently undergoing a class action lawsuit for alleged involvement in a pyramid scheme selling universal life insurance policies that allegedly targeted Asian immigrants. Many insurance firms offer bonuses and multipliers on the credited interest rate, and often charge clients extra money—in … The Plaintiffs allege that Premier Financial Group has been carrying out an unlawful pyramid scheme involving the sale of universal life insurance policies issued by National Life Group. In addition to covering that, today we’re also revisiting the original 2018 Premier Financial Alliance pyramid lawsuit. This is particularly dangerous with IUL policies, where a typical policy holder has extensive disposable income and the policy premiums are often enormous. In the last few days, a link to a posting on topclassactions.com has been blazing through the industry like wildfire. 0 comments. As a refresher, the Ninth Circuit ruling reversed in part a decision by the U.S. District Court for the Central District of California in a certified class action of indexed … Pacific Life Insurance is headquartered in Newport Beach, California and was founded in 1868. ... in class action and other complex commercial litigation disputes as well as regulatory enforcement proceedings. ... EIUL Insurers Face Class Action Lawsuits. Growth in the cash value of an IUL is linked to a stock market index and capped such that the interest credited to an account cannot be less than 0%. More Primerica Complaints & Reviews. New to ClassAction.org? And the insurance agent can make a commission on the sale of the structured payment and the target premium on the IUL is larger (winner winner chicken dinner)! It offers several great features and has excellent ratings in all dimensions. Universal life insurance policies have a guaranteed interest rate. Advisor's Guide to Life Insurance for Business Owners 10 September, 2020 / 0 Comments. Read 86 comments. So grab some popcorn, folks. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gonzales in California. Transamerica Life Insurance Co. successfully argued that this action constituted a breach of obligations that damaged the contract holders. * The agent is also named in this lawsuit. On February 28th, 2019, Girard Sharp attorneys filed a class action lawsuit against Premier Financial Alliance, National Life Insurance Company, and Life Insurance Company of the Southwest. Using our IUL calculator guide to understand the nuances behind these variables. Especially regarding the class action lawsuit against Citigroup for deceiving investors. Consumer Action maintains this listing of notable class actions so that interested consumers can learn more, join a pending action or make a claim. The complaint alleges that, among other things, the company deceptively sold its Indexed Universal Life (“IUL”) policies by failing to disclose the high costs associated with these policies. This is going to be good. This review examines Pacific Life’s new cost/benefit paradigm within their new PDX product. This is particularly dangerous with IUL policies, where a typical policy holder has extensive disposable income and the policy premiums are often enormous. Open. Hi everyone. I got a class action lawsuit settlement from Wells Fargo for $2.44. Or talked into taking out loans to pay for massive policies. Our firm recently resolved an index universal life insurance lawsuit on behalf of a policy holder who was not told about the enormous costs associated with the IUL. 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