If you believe that what is alleged in the Indexed Universal Life Policy (IUL) Class False Marketing Class Action Lawsuit Investigation has affected you, please don’t hesitate to reach out to us. That is, at least, until now. expected to be mailed out. Indexed Universal Life pros and cons are typically exaggerated by both sides with agendas to either sell an IUL policy or against it. “Universal life insurance” is a type of life insurance product that provides cash value which is affected by the cost of insurance, or COI. Both PacLife and Minnesota Life IULs have come with assurances that may have been unrealistic or even deceptive, such as tax-free death benefits, tax-deferred premiums, guaranteed rates of returns in the event of the insured’s sudden demise, the ability to borrow against the policy without tax consequences and caps that prevent the insured from potential market-based losses. You can change these settings at any time. Pacific Life; Indexed Universal Life Insurance; Equity-based Universal Life Insurance; Equity-based Life Insurance; According to our research, a majority of the fraud occurs in the “sales phase” of the purchase process, wherein the salesperson presents the consumer with an illustration of the possible policy benefits. This article is not legal advice. We reveal the formula behind the Pacific Discovery Xelerator’s controversial “Performance Factor" and discuss 5 viable exit strategies if Pac's new IUL's cash value can't outrun PDX's higher charges. Take a photo of a faulty item and add a brief description. 3 Pacific Life Insurance Company’s Pacific Discovery Xelerator IUL (policy form #P15IUL and S16PDX or ICC15 P15IUL and ICC16 S16PDX, based on state of policy issue) is flexible premium indexed universal life insurance. If you purchased an Indexed Universal Life Insurance policy after 2015, you may have a claim for relief. I’m so frustrated with the trend of how NEW Indexed Universal Life (IUL) policies are being designed that I wanted to offer a WEBINAR explaining the problems with these NEW designs and compare them to the old designs.. WEBINAR -The Pros and Cons of New vs. Old IUL Designs On Recording (one of the best webinars you will ever attend) If you are shopping for life insurance, you might come across a product called indexed universal life, or IUL for short. Become a subscriber below! These IUL policies are currently the target of an investigation by the National Association of Insurance Commissioners as well as attorneys who are anticipating a class action lawsuit. We’d be happy to help you take a step in the right direction, fight this issue, and better enable you to join in on any potential consumer class action. Decide which cookies you want to allow. status of any class action settlement claim. Some of the insurance companies selling IULs include: This piece is written about the recent Indexed Universal Life Policy (IUL) Class False Marketing Lawsuit Investigation. Today, Pacific Life Insurance Company announced two new indexed universal life insurance products: Pacific Discovery Xelerator IUL 2 and Pacific Indexed Accumulator 6. Indexed universal life (IUL) insurance boasts the security of fixed universal life policies and the interest-earning potential of variable policies. Plaintiff alleges the following on information and belief, except for those allegations relating to Plaintiff, which are alleged on personal knowledge. However, many consumers don’t realize the risk involved with an IUL policy, largely because agents often downplay that risk. The insurance industry will be watching closely in the coming months as a class-action lawsuit over an indexed universal life policy plays out in a California courtroom. The first section defines indexed universal life and lists our picks for the best IUL companies. If you have purchased either Minnesota Life’s Eclipse Indexed Universal Life Insurance or Pacific Life’s Pacific Discovery Xelerator (PDX) life insurance within the last five years, and still maintain the policy, you may be able to join this universal life insurance lawsuit or class action lawsuit investigation. While consumers should educate themselves on policy offerings prior to purchase, they also have protective rights. ; In the second section, we get into the different indexed universal life insurance pros and cons, starting with the benefits. Well, you’re not alone. COIs are the costs of underwriting and maintaining the policy and when the premiums that were paid exceeded the COI, the excess, together with interest, is credited to the policy’s cash value. If you want to tailor our website's use of your cookies, please select Change Settings.

Taking this information, will will help rectify you complaint! Pacific Life IUL products have been slowing getting worse and worse. Were Customers Deceived About PacLife and Minnesota Life IULs? If you purchased the Pacific Discovery Xelerator (PDX) Universal Life policy from PacLife or the Eclipse IUL from Minnesota Life in the last 5 years, you may qualify to join this universal life insurance lawsuit or class action lawsuit investigation. Contact us today to see if you are entitled to join the Indexed Universal Life Policy (IUL) Class False Marketing lawsuit investigation. '> This website is not intended for viewing or usage by European Union citizens. Are Commercial Truck Drivers Exempt from Overtime Pay? The class action lawsuit includes claims of negligent misrepresentation, fraud, unjust enrichment, breach of express warranty, and Read More, What You Need To Know About The Google Antitrust Lawsuit Are you overwhelmed with the latest antitrust lawsuit news Google is facing? Similarly, please check out our current list of Class Actions and Class Action Investigations, here. Intentional Misrepresentation. Appeals Court Denies Harvest Rock Church Request for Emergency Relief, Judge Shuts Down Indianapolis Bars’ Challenge of COVID Restrictions, Consumers Concerned About Food Allergies File Class Action Lawsuit Against Whole Foods, Ace Hotel Chicago Faces Data Privacy Class Action Lawsuit, Class Action Lawsuit Says Ancestry Shows Yearbook Photos Without Consent, Energizer AA MAX Batteries Allegedly Not As Long-Lasting As Advertised, Mercedes to Reimburse for Peeling Paint Defect Under Class Action Settlement, Consumer Class Action Lawsuit & Settlement News, Coronavirus Legal News & Class Action Lawsuits, California Mortgage Lender Consumer Protection. BUT...It needs to be structured properly with a reputable company. Sign up for our free newsletter. Essential: Remember your cookie permission setting, Essential: Gather information you input into a contact forms, newsletter and other forms across all pages, Essential: Keep track of what you input in a shopping cart, Essential: Authenticate that you are logged into your user account, Essential: Remember language version you selected, Functionality: Remember social media settings, Functionality: Remember selected region and country, Analytics: Keep track of your visited pages and interaction taken, Analytics: Keep track about your location and region based on your IP number, Analytics: Keep track of the time spent on each page, Analytics: Increase the data quality of the statistics functions, Advertising: Tailor information and advertising to your interests based on e.g. The problem for consumers is the complexity of IULs, which makes them quite difficult for the average layperson to understand. Pacific Life brings over 149 years of experience to you with its excellent products and services. All Rights Reserved. In fact, we think so highly of Pacific Life that it makes our honorable mention list in our top 10 best life insurance companies article. A press release today announced Minnesota Life’ s Eclipse product was the top selling indexed universal life (IUL) for the first quarterof 2011. Interest rates are determined by the underwriter of the universal life policy but with a contractual minimum which is usually around 2%. There are now at least 52 insurers selling indexed universal life insurance, says Barry Flagg, president of Veralytic, a life insurance products rating service. This article is separated into three sections. Fraud and Deceit. Indexed Universal Life Insurance products do not directly participate in … Class Action Rebates | Cash You Can Claim! Join a Free PacLife & Minnesota Life Lawsuit Investigation. Placeholders.enable(); June 7, 2019. current list of Class Actions and Class Action Investigations, here. Sign up for our free newsletter. Interested in articles like these? Insurance companies use sales illustrations and marketing materials showing some account values gaining favorable growth in future years to sell the IULs. Go on and tell us about your poor consumer experience. Term life insurance is available at 10-year, 15-year, 20-year or 30-year terms. We tell you about cash you can claim every week! We use cookies on our website to improve functionality and performance, to enhance the user experience, and to provide tailored content for website visitors. your claim status, claim form or questions about when payments are Many life insurance agents are hyping up IUL, making it one of the hottest products on the market. If you are considered eligible to be among the class of consumers described in the class action lawsuit investigation, you may eventually be able to participate in receiving any compensation the court may award. IUL policies are also permanent insurance policies that pay a death benefit to survivors, notwithstanding whether the insured has passed away. When the interest rates are bound by the movement of the stock or bond market, this becomes an “Indexed Universal Life,” or IUL insurance policy. Negligent Misrepresentation. Questions are being raised about PacLife and Minnesota Life IULs and how these products were represented to consumers by the company. Pacific Life Rolls out a NEW IUL Policy. The insurance industry will be watching closely in the coming months as a class-action lawsuit over an indexed universal life policy plays out in a California courtroom. by Defendant Pacific Life Insurance Company (“PacLife”) to sell its “Pacific Discovery Xelerator IUL” (“PDX”) indexed universal life insurance policies to California residents. You must contact the