Index Universal Life Insurance Lawsuit for Premiums Paid

There is ample reading material on the web regarding whether index universal life insurance policies (IULs) are intelligent investment strategies.  While there are reasons to be wary of IUL policies, there are signs that insurance agents, intentionally or otherwise, misrepresent these policies’ material terms, strengths, and weaknesses. This is particularly dangerous with IUL policies, where a typical policyholder has extensive disposable income, and the policy premiums are often enormous.

Index Universal Life Insurance under North Carolina Law

Our firm recently resolved an index universal life insurance lawsuit for a policyholder whose insurer obscured hidden costs. In that suit, our client was misled about the significant difference between guaranteed and non-guaranteed aspects of their policy. The insurer told our client that the guaranteed aspect would “never happen”. After over a year of litigation, our attorneys compelled the insurer to return everything our client paid on his premium. North Carolina provides favorable treatment for potential parties to an index universal life insurance lawsuit. State law explains that material misrepresentation made by an agent or salesperson to a potential policyholder would be the basis for a viable claim. If one can prove that they relied upon those misrepresentations to purchase a policy, those claims may also be the basis for unfair and deceptive trade practices claims. These claims carry hefty penalties for the insurer and may allow the policyholder to recover their attorney fees.

Representation for IUL Lawsuits

Maginnis Howard will often handle an index universal life insurance lawsuit and other misrepresentation claims on a contingency basis. This means that you pay fees to us unless we recover funds for you. To schedule a free case evaluation, visit our contact page or call the firm at (919) 526-0450. We handle policyholder insurance lawsuits throughout North Carolina and would be honored to help you.