Class action plaintiffs are asking a Miami federal judge to stop Transamerica Life Insurance from "drastically increasing" cost-of-insurance charges on policyholders entering their later years.
May 16, 2016 at 12:00 AM
1 minute read
Universal life insurance policyholders behind a multimillion-dollar class action are asking a Miami federal judge to stop Transamerica Life Insurance Co. from drastically raising their monthly charges.
The lawsuit alleges Transamerica has increased cost-of-insurance charges to make up for low U.S. interest rates. Some customers’ premiums almost doubled, they claim.
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