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A class action settlement has been reached with State Farm over the Cost of Insurance deducted from some life insurance policies. If you own or owned a Form 94030 or 94080 policy, you may be eligible for a cash payment.
The Settlement involves the Cost of Insurance that State Farm deducted from the Account Value for these life insurance policies. The Settlement provides that State Farm will fund a Settlement Fund in the amount of $325
This web page explains the lawsuit and settlement between State Farm and policy owners who allege that State Farm violated the policy language in its Flexible Premium Adjustable Whole Life (or Universal Life) Insurance policies. It answers frequently asked questions about the settlement, the class, the award, and the process.
Rogowski et al. v. State Farm Life Insurance Company et al., Case No. 4:22-cv-00203-RK
The Distribution Plan is designed to distribute to each Settlement Class Member a share of the Net Settlement Fund proportional to the amount of “Monthly Deductions” for “Cost of Insurance” (“COI”) and expense (“Expense”) charges paid by each Settlement Class Member, subject to a
If you have any questions regarding this Settlement, you may contact the Settlement Administrator. Please ensure that you include your name and your return address on all correspondence.
Action Complaint against Defendants State Farm Life Insurance Company AND State Farm Life and Accident Assurance Company (“Defendants”), state and allege as follows: INTRODUCTION. 1. This is a class action to recover amounts that Defendants charged and collected
This is a PDF document of the settlement agreement between State Farm and plaintiffs in a class action lawsuit over cost of insurance rates for life insurance policies. The agreement defines the terms, conditions, and procedures of the settlement, and provides a distribution plan and a notice to the class members.
Rogowski, et al. v. State Farm Life Insurance Company, et al., United States District Court for the Western District of Missouri Case Number: 4:22-cv-00203-RK Must Be Completed Before Receiving Settlement Check LEGAL HEIR AFFIDAVIT AND INDEMNIFICATION AGREEMENT I, , a citizen of the State/Commonwealth of
The $325 million cash Settlement1 secured from Defendants (“State Farm”) represents the largest known class-action settlement that State Farm has ever paid; the largest identified cash settlement obtained on claims for allegedly improper cost of insurance (“COI”) overcharges; and