Anne Bucher  |  December 15, 2015

Category: Closed Class Actions

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This settlement is closed!

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Lincoln-Life-Insurance

Lincoln National Life Insurance Company has agreed to settle a class action lawsuit about the cost of insurance changes deducted from policyholders’ accumulation values. Consumers who own or owned an Ensemble I, Ensemble II, Heritage I, or Heritage II flexible premium variable life insurance policy may be entitled to benefits from the class action settlement.

The proposed settlement will resolve a class action lawsuit alleging Lincoln National Life Insurance deducted more than the Ensemble I, Ensemble II, Heritage I and Heritage II policies allowed for the cost of insurance (COI) because the insurer considered factors other than “sex, issue age, policy year, and rating class of the insured,” and “expectations as to future mortality experience” when setting the COI rates.

The life insurance class action lawsuit also accused Lincoln National Life Insurance of accounting for expenses for the COI charge that were in excess of the $6 per month charge indicated in the policy. The class action lawsuit also alleges that Lincoln National Life Insurance failed to adjust its COI rates to reflect changes in expectations with regard to future mortality experience.

Lincoln denies the allegations and maintains that its deductions were consistent with the terms of its policies. However, the company has agreed to settle the life insurance class action lawsuit to avoid the expense and uncertainty of further litigation.

Who’s Eligible

Class Members of the Lincoln National Life Insurance settlement include anyone who fits in one of the following three categories:

1) All owners who reside in one of the following states and who, on or after June 1, 1999, owned an Ensemble II “Flexible Premium Variable Universal Life Insurance” policy that is a security that was issued or administered by Lincoln National Life Insurance Company:

  • Alabama
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • New Hampshire
  • North Carolina
  • Ohio
  • Oklahoma
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • Wisconsin

2) All owners who reside in U.S. states or territories not listed above and who owned on or after June 1, 2002 an Ensemble II “Flexible Premium Variable Universal Life Insurance” policy that is a security that was issued or administered by Lincoln National Life Insurance Company.

3) All owners who owned on or after June 1, 2002 an Ensemble I, Heritage I or Heritage II Flexible Premium Universal Life Insurance policy that is a security that was issued or administered by Lincoln National Life Insurance Company.

Potential Award

Lincoln National Life Insurance has agreed to automatically issue term life insurance at no charge to each Class Member in the form of a “Term Life Insurance Certificate.” This certificate will have coverage amounts and duration according to the age of the insured, the face amount of the policy, and whether the Class Member is a current or former policyholder.

Class Members who wish to exclude themselves from the life insurance settlement must do so no later than Jan. 9, 2016.

Proof of Purchase

N/A

Claim Form Deadline

N/A. Eligible Class Members who do not opt out of the Lincoln life insurance settlement by Jan. 9, 2016 will automatically receive benefits.

Case Name

Peter S. Bezich v. The Lincoln National Life Insurance Company, Case No. 02C01-0906 PL-73, in Allen County Circuit Court of Allen County, Indiana

Final Hearing

2/4/2016

Settlement Website

www.BezichSettlement.com

Claims Administrator

Bezich v. Lincoln National Life Settlement Administrator
P.O. Box 40007
College Station, TX 77842-4007
1-888-623-6170

Class Counsel

Patrick J. Stueve
Bradley T. Wilders
STUEVE SIEGEL HANSON LLP

John J. Schirger
Matthew W. Lytle
MILLER SCHIRGER LLC

Matthew J. Connelly
BLUME CONNELLY JORDAN STUCKY & LAUER LLP

Defense Counsel

D. Randall Brown
BARNES & THORNBURG LLP

Elizabeth L. Deeley
KIRKLAND & ELLIS LLP

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8 thoughts onLincoln National Life Insurance Class Action Settlement

  1. R.P says:

    My husband and I had life insurance since 2012 and he keep getting third parties calling him telling he can get an extra care if he sign up for it and jack up the price where he have to cancel it in august 2016 that was on his part .but on my part I been giving money to him to pay for ours both and I didn’t know they cancel my part of insurance cause he stop it.Shouldn’t they refunded me.My husband passed away 2018.I know some life insurabce refund the money back to customer if they quit or stop it

  2. Edith baker says:

    Hi me and my daughter in law.has got taken good by Lincoln hertage insurance company.they straight up lied to us.we cancel our policies and they want send our money back.and took another payment off of our debit card.we need advice. thanks

  3. Robert Meuschke says:

    I had 2 policies with Lincoln for over 20 years starting around 1988. How do I receive part of this settlement. No one has contacted me and the contact website and phone number are not up or working.

  4. michael olivo sr. says:

    Lincoln financial insurance company are thieves ,I had a life insurance policy for my son who is now in his thirties iwent to cash the policy in and at the time I was told the cash out value ,and that I would receive a check in the mail soon after the co. recieved the forms I filled out I waited acouple of months and called the company only to find out that Lincoln financial sent the check not to me who is the rightful owner after paying premiums for over 20 years but. to my son of whom I wasn’t even talking to at the time .I am still goin back and forth with this matter .awoman named Margaret called my house to tell me that I should have received the check and what the company did was very wrong but she never got back to me I did call her but she said she was to busy .and by the I never even gave my sons address to these people so how did they get it

  5. Timothy J Peterson says:

    As a former policy holder . I’m unsure as to how much insurance I had at the time ? And also can the amount of the term insurance pay out be less in exchange for a longer period of time ?

  6. antonio lee says:

    love-hate

  7. antonio lee says:

    bruce lee

  8. david says:

    Kuddos to the lawyers on this one! Lincoln is an extremely frustrating insurance company to work with! I had a disability insurance policy with them, had reason to use it last spring (May) and am still currently engaged in a bureacratic paperwork battle with them. They are very effective at finding ways to NOT pay your claim.

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