On April 20, 2018, a Missouri class action against State Farm Life Insurance Company was certified as a class by a federal court. The life insurance product at issue is State Farm’s Flexible Premium Adjustable Whole Life Insurance Policy, Form no. 94030.
Plaintiff alleges that State Farm overcharged policyholders through cost of insurance and administrative charges within the policies, failed to reduce insurance charges despite improving expectations of future mortality, and committed conversion of policyholder money.
The case is Michael Vogt vs. State Farm Life Insurance Company and is pending in the United States District Court for the Western District of Missouri. The plaintiffs are represented by Miller Schirger and Stueve Siegel Hanson. A copy of Judge Nanette Laughrey’s Order granting class certification can be read <here>.
Miller Schirger has a successful record prosecuting class action cases alleging policy overcharges against the life insurance industry. Most recently, in March 2017, a California Court certified a nationwide policyholder class against John Hancock Life Insurance Company (U.S.A.). A final hearing to approve a class wide settlement is set in that case for May 8, 2018. In 2016, an Indiana Court granted final approval of a class action settlement valued at approximately $2.25 billion against The Lincoln National Life Insurance Company.