In North Carolina, any misrepresentations that induce you to enter into an insurance policy are unfair and deceptive under the law. These statements do not have to be intentional. The misstatements often result from the insurance company providing a “script” for its agents that is vague and ambiguous about the downside risks of the policy. Insurance agencies will have slick marketing materials to convince you that their product is perfect for you. Agents will have a few buzzwords but very few specifics, and the policy contract is nearly impossible to understand. This is the scary part that can lead to a false advertising insurance policy lawsuit. You can be duped by an agent who was not even trying to trick you or take advantage of you.
Our firm recently represented a woman who had purchased a universal index life insurance policy that required her to pay almost $90,000 in yearly premiums. The insurance agent had failed to disclose that the administrative costs associated with the policy ate up nearly 25% of the premiums. This was likely because the insurance company had only taught the agent that the fees “were more upfront” without disclosing how much and hadn’t taught her to read and understand the policy she was selling. We reached a settlement in which our client could recover every dollar she had paid under the policy.
Our firm handles false advertising insurance policy cases in situations like these:
- amounts of premiums;
- administrative costs;
- variable products;
- policies which have an investment or “cash accumulation” component;
- surrender charges;
- policies where the insured did not physically get an opportunity to review and sign the policy;
- Failure to provide appropriate coverage.
North Carolina False Advertising Attorneys
If an insurer concealed important information about your insurance policy, contact our firm for a free case evaluation. Visit our contact page for information about the Maginnis Howard location closest to you. Our offices are conveniently located in Raleigh, Charlotte, and Fayetteville. We also serve the surrounding areas and can travel to our clients.