Settlement Structure: Claims Made
Active: OpenCase Summary:
Genworth Life Insurance Company (GLIC) is settling a class action filed by three plaintiffs who own GLIC Choice 1 long term care insurance policies. The complaint alleged that GLIC intentionally withheld material information about the company’s rate increase plans and its need to rely on increased rates to pay future claims. Among the counts were fraudulent inducement by omission and violations of the Pennsylvania Unfair Trade Practices and Consumer Protection Law.Docket Number:
Company: Genworth Life Insurance Company
Filing Deadline: January 1, 2100
Objection Deadline: June 13, 2020
Exclusion Deadline: June 13, 2020
Final Approval Hearing: September 11, 2020Proof of Purchase:
No claim form or proof is necessary.Eligibility:
You may be eligible if you were a hold of a Class Policy. See the List of Class Policies at http://www.longtermcareinsurancesettlement.com/Content/Documents/Class%20Policies.pdf.
You are not eligible if
- Your policy went into Non-Forfeiture Status before January 1, 2014.
- Your policy entered Fully Paid Up Status at any time up to the date the class notice was mailed.
- Your policy is lapsed and outside the period allowed for automatic reinstatement with payment of past-due premium, or your policy has otherwise been terminated as of the date the class notice was mailed.
Special Election Letter with (1) disclosures of certain information about future rate increase plans and the need for rate increases, and (2) the right to elect either to maintain current benefits at existing filed rates with the future approved rate increases or to choose from a selection of paid-up benefit options or reduced benefit options, subject to availability. The options will depend on a number of factors, including your current policy status and benefits, final court approval, and state regulatory review and comment.
Total Settlement Amount: No less than $12,000,000.00 and no greater than $26,500,000Class Representative Proposed Incentive Fee:
Berger & Montague
Goldman Scarlato & Penny
Phelan Petty PLC
Robbins Geller Rudman & Dowd
Settlement Website: Genworth Life Insurance Company Long Term Care Policy Settlement Website
Epiq Class Action & Claims Solutions, Inc.
Skochin v. Genworth Settlement Administrator
c/o Epiq Global
P.O. Box 4230
Portland, OR 97208-4230
1 (833) 991-1532