Thursday, May 28, 2009

Life Investors Insurance Class Action: Deadline Looms

Our firm is currently representing consumers who have cancer insurance policies with Life Investors Insurance Company of America as well as Transamerica.

Good and honest people bought cancer policies for a simple reason - To provide for a reimbursement amount of “actual charges” to be paid when incurred or billed. When claims were submitted, we believe that these two companies do not pay the “actual charges.” Instead, these insurers will pay a discounted amount for those same cancer treatments, contrary to the terms of the policy. We are pursuing individual cases.

Many people who bought a cancer insurance policy may have a received recently a class action notice in the case of Runyan v. Life Investors Insurance Company of America / Transamerica. The time period that applies to any policy bought during the years 2004 - 2006.

In our experience, the class action relief asked for is simply not an adequate remedy. As we see it, the Runyan class settlement is inadequate relief for policyholders.

We believe that “opting out” of the class action may be more appropriate to protect their individual rights. Alternatively, filing an objection to the class may be even more appropriate. We are currently evaluating both of these options for these policyowners, but we are nonetheless accepting cases for those who wish to either opt out or object to the class settlement in its entirety. The deadline to exclude yourself from this class is June 29, 2009.

The deadline to object to the settlement is June 29. 2009.