$110M Transamerica Life Insurance class action settlement

Transamerica Life Insurance Co. agreed to a $110 million class action settlement to resolve claims that it failed to credit certain cash value increases to eligible Direct Recognition Life policies.

The Transamerica settlement benefits individuals who own or owned a Transamerica Life Insurance universal life insurance policy that was in effect on Jan. 1, 2016, and was known by the product names “Direct Recognition Life 10” or “Direct Recognition Life 11,” or by the attribute codes “DRL-10” or “DRL-11.”

Transamerica Life Insurance is a life insurance and financial services company that sells a variety of products, including universal life insurance policies.

According to a class action lawsuit, Transamerica Life Insurance failed to credit certain cash value increases associated with eligible Direct Recognition Life policies. Plaintiffs in the case claim the company’s actions violated its own policy terms and harmed policyholders.

Transamerica Life has not admitted any wrongdoing but agreed to pay $110 million to resolve these allegations.

Under the terms of the Transamerica settlement, class members can receive a cash payment based on the cash value increases they were denied on their policies.

Class members who owned multiple eligible policies may receive a larger share of the settlement fund. Exact payments will vary.

Transamerica Life also agreed to credit the 40-Year guaranteed cash value increase for eligible policies if they remain in force on their 40-year policy anniversaries.

The company also agreed not to contest certain death claims submitted by class members based on alleged lack of insurable interest or alleged misrepresentations made during the original application process.

The deadline for exclusion and objection is Oct. 2, 2026.

The final approval hearing for the Transamerica settlement is scheduled for Nov. 9, 2026.

No claim form is required to benefit from the Transamerica Life Insurance class action settlement. Class members who do not exclude themselves will automatically receive settlement benefits.

Who’s Eligible

The class action settlement benefits current or former owners of a Transamerica Life Insurance universal life insurance policy that was in effect on Jan. 1, 2016, and was known by the product names “Direct Recognition Life 10” or “Direct Recognition Life 11,” or by the attribute codes “DRL-10” or “DRL-11,” and that was established and defined by the provisions of a group master policy, group insurance certificate and issue illustration.

Potential Award

Varies

Proof of Purchase

N/A

Claim Form Deadline

10/02/2026

Case Name

Wren, et al. v. Transamerica Life Insurance Co., Case No. 5:21-cv-00178-JGB-SP, in the U.S. District Court for the Central District of California

Final Hearing

11/09/2026

Settlement Website

WrenCVISettlement.com

Claims Administrator

Wren v. TLIC Settlement Administrator
c/o JND Legal Administration
P.O. Box 91248
Seattle, WA 98111
[email protected]
888-305-6486

Class Counsel

Steven G. Sklaver
Seth Ard
Zach Savage
SUSMAN GODFREY LLP

Andrew S. Friedman
Francis J. Balint
BONNET FAIRBOURN FRIEDMAN & BALINT P.C.

Defense Counsel

Elizabeth G. Doolin
Julie F. Wall
Joseph R. Jeffery
Kaitlyn E. Luther
CHITTENDEN, MURDAY & NOVOTNY LLC

Vivian I. Orlando
Richard B. Hopkins II
MAYNARD NEXSEN LLP