A Lincoln National class action lawsuit has been filed against the life insurance company after it allegedly engaged in a scheme to improperly increase premiums on life insurance policies previously purchased through the Jefferson-Pilot Life Insurance Company. Consumers who purchased an insurance policy and received a letter notifying them of an increased “Cost of Insurance” (COI) rate may be able to seek compensation with the help of a consumer protection attorney.
If you or someone you know purchased a life insurance policy through Jefferson-Pilot and received a letter from Lincoln National regarding the increase of your policy’s COI rate, contact Attorney Group to learn about your options. We offer free, no obligation consultations. We can help answer your questions, and if you choose to pursue a claim we can connect you with an affiliated attorney who can assist you throughout the legal process.
Insurance Rate Increase Could Lead to Premium Spike
On behalf of other policyholders who have received a letter of notification regarding an increase in COI rates, a class action lawsuit has been filed accusing Lincoln National of participating in a scheme to avoid its obligations under the original policies issued by Jefferson-Pilot. As a result of the COI rate increase, some policyholders may be required to take on a much higher monthly deduction, leading them to pay unreasonable premium amounts.
In addition to a massive increase in premium costs, the class action alleges that Lincoln National increased its rates in an attempt to pressure certain policyholders to drop or cancel their insurance policies altogether and forfeit previously paid premiums. In the letter, Lincoln National justified the rate increase based on what they called “a challenging and changing environment.” However, the lawsuit claims that the company did so in order to avoid contractual obligations promised under the original policies.
Affected Parties May be Eligible for a Lincoln National Class Action Lawsuit
When insurance companies and their affiliates engage in fraudulent behavior, or otherwise commit unlawful or unfair trade practices, they could be liable for any damages that result. If an insurance company is found to have been participating in a scheme to improperly increase premiums on life insurance policies, consumers may be able to recover the losses they suffered as a result of the defendants’ actions, along with other damages.
Individuals who have purchased an insurance policy through Jefferson-Pilot and received an “Important Notification” letter notifying them of an increased COI may be eligible to pursue damages through a Lincoln National class action lawsuit and are encouraged to seek the advice of an experienced attorney to learn more about their rights and remedies.
The Time You Have to Pursue a Claim is Limited. Contact Us Today.
For more information, contact Attorney Group. After you contact us, an attorney will follow up to answer questions that you might have.
There is no cost or obligation to speak with us, and any information you provide will be kept confidential.
Please note that the law limits the time you have to pursue a claim or file a lawsuit for an injury. If you think you have a case, you should not delay taking action.