John Hancock Flex V2 Life Insurance Policy Lawsuit
- Obtain more details in regards to the class action lawsuit entitled Larson, et al. v. John Hancock Life Insurance Company (U.S.A.),
- FlexVClassAction.com is administered by Epiq Systems Inc.
- The case is under review in the Superior Court of the State of California for the County of Alameda
The FlexVClassAction Lawsuit claims that violated their own insurance policy in three distinct ways:
- First, John Hancock allegedly impermissibly considers factors other than mortality expectations when calculating an “Applied Monthly Rate” based on “expectations of future mortality experience.”
- Second, John Hancock impermissibly includes amounts in the “Applied Monthly Rate” that should actually be included in the “Maintenance Charge,” the John Hancock class action lawsuit alleges. The policy allegedly permits a maximum “Maintenance Charge” of $8 per month.
- Third, the John Hancock class action lawsuit alleges the policy requires the “Applied Monthly Rate” to be reviewed at least once every five policy years and adjusted to reflect expectations of future mortality. However, the plaintiff says the rate has not been modified.
John Hancock denies any actions of wrong doing but have agreed to a 60 million dollar settlement in order to avoid further litigation.
Those who are not happy with the terms of the Larson, et al. v. John Hancock Life Insurance Company (U.S.A.), have until April 30, 2020 to object or opt out.
FlexVClassAction.com Contact Information
- Mail: Larson v. John Hancock Settlement Administrator, c/o Epiq Systems Inc., P.O. Box 4850, Portland, OR 97208-4850
- Phone: 888-740-7631
Class members who file valid claims will be represented by Norman E. Siegel, John J. Schirger, and Daniel C. Girard. John Hancock has hired Alan B. Vickery, John F. LaSalle, Motty Shulman, and Sean P. Rodriguez from the law firm of BOIES SCHILLER FLEXNER LLP.