Kansas Metropolis Life Insurance coverage Firm "systematically overcharged" prospects for insurance coverage and bills, depleting money values for presumably lots of of coverage homeowners, two legislation corporations claimed in a federal lawsuit filed Tuesday.
Stueve Siegel Hanson LLP and Miller Schirger, LLC, claimed Kansas Metropolis Life made unauthorized expenses that drained coverage homeowners' money worth over time from their everlasting life insurance coverage.
"Merely put," the corporations stated in an announcement Wednesday, "cash that ought to go to the coverage proprietor's financial savings goes as an alternative to the insurance coverage firm."
Within the case of the plaintiff, Christopher Meek of Baxter Springs, Kansas, he has paid the insurance coverage firm practically $60,000 in premiums all through greater than 34 years. However his money worth in October 2018 was depleted to lower than $500, in keeping with the lawsuit.
The lawsuit, filed within the Western District of Missouri, claimed 1000's of consumers throughout the nation have probably been affected by the alleged breach of contract. It may depart coverage homeowners with out life insurance coverage "when it's wanted probably the most," the agency alleged in an announcement.
A spokesperson for Kansas Metropolis Life stated the corporate grew to become conscious of the lawsuit via media sources and had not "obtained service" from these concerned within the lawsuit. It subsequently couldn't remark as of Wednesday afternoon, the spokesperson stated.
"What we will acknowledge is that for the previous 124 years, we have now ensured that the pursuits of our policyholders and the integrity of our firm stay our highest priorities," the corporate stated in an announcement.
In 2018, the legislation corporations obtained a judgment of greater than $34 million after they sued State Farm for comparable overcharges on behalf of about 24,000 coverage homeowners, in keeping with federal courtroom information.
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