Lieff Cabraser is investigating allegations of fraud and other deceptive practices in connection with the sale of universal life insurance policies by the following companies:
- Accordia (previously called Aviva and briefly called Athene)
- Aegon USA
- Allstate Life
- Midland National Life
- Minnesota Life
- NACOLAH Life
- National Life Group (which includes LSW)
- Old Mutual Financial
- Pacific Life
- Penn Mutual
Customers report that they have suffered unexpectedly low returns, and in some cases have lost their entire investments and been forced to surrender their policies, as a result of this alleged deceptive conduct.
We are investigating reports that these companies provide customers with promotional and other materials that are misleading about policy returns and hide significant risks associated with these products. For example, illustrations and graphs provided to customers about future returns fail to disclose or adequately disclose that actual returns are subject to market volatility and that market fluctuations can cause customers to receive significantly reduced returns and even to their lose their entire investments and be forced to surrender their policies. Customers also report being subject to additional deceptive practices by these companies, including being charged undisclosed fees that significantly reduce their returns.