Keller Rohrback L.L.P. Announces Investigation of MetLife, Inc., John Hancock Financial, and Nationwide Mutual Insurance Company Regarding Payment of Life Insurance Benefits
SEATTLE, May 13, 2011 (Businesswire)—Attorney Advertising. Keller Rohrback L.L.P. (www.krcomplexlit.com) announces that it is investigating several life insurance companies, including MetLife, Inc. (NYSE: MET), John Hancock Financial, and Nationwide Mutual Insurance Company, for potential violations of various state consumer protection and insurance laws, as well as potential violations of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The investigation focuses on insurers that allegedly delay or withhold payments to beneficiaries despite knowledge that the life insurance policy holder has passed away.
Several abusive practices by life insurance companies have recently have been reported, including the insurers’ failure to cross-check dormant accounts with government databases that list names of the dead despite the fact that the insurance companies routinely check these databases to cease annuity payments when a policy holder dies. Insurers have also reportedly continued to pay premiums to themselves from cash reserves built-up in an account for several years after the insured has passed, and then cancelled the policy once the reserves are fully depleted, without ever notifying the beneficiaries.
The insurance companies’ failure to take reasonable steps to determine whether policy owners are deceased and subsequent failure to pay beneficiaries may be considered unfair and deceptive acts that violate consumer protection and insurance laws, as well ERISA, to the extent the life insurance policies are part of retirement plans.
If you are a beneficiary under a life insurance policy underwritten by MetLife, John Hancock, or Nationwide, and that insurer has failed to promptly pay death benefits due to you, or would like more information regarding our investigation, please contact paralegal Jennifer Tuato’o, or attorneys Derek Loeser, David Ko, or Lynn Sarko, at 800.776.6044 or via e-mail at consumer@kellerrohrback.com.
Keller Rohrback, with offices in Seattle, Phoenix, New York, and Santa Barbara, is one of America’s leading law firms handling ERISA litigation and related fiduciary breach claims. We are committed to helping individuals protect their savings and other benefits. Keller Rohrback has successfully provided class action representation for over a decade. Its litigators have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
CONTACT:
Keller Rohrback L.L.P.
Jennifer Tuato’o, Paralegal
(800) 776-6044
info@kellerrohrback.com
www.krcomplexlit.com
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