Nationwide Life Insurance Policyholders File Class Action Lawsuit Against Nationwide Life Insurance Over Alleged Excessive “Cost of Insurance” or COI Charges.
A class action lawsuit was filed against Nationwide Life Insurance Company in the United States District Court for the Western District of New York (styled Sandra L. Meidenbauer v. Nationwide Life Insurance Company, Case No. 1:10-cv-00409-WMS) alleging a classwide breach of contract to recover amounts charged on life insurance policies for “Cost of Insurance” or “COI,” charges in excess of that permitted by the express terms of the insurance policies, according to a class action lawsuit news report.
The Nationwide Life Insurance class action complaint reportedly alleges that the Nationwide cost of insurance or COI charge is a mortality charge that must be based on mortality factors such as sex, attained age, rate class and expected future experience, but that Nationwide Life Insurance puportedly adds expenses, taxes and/or profits to COI charges.
For more information on the Nationwide Life Insurance cost of insurance COI charge class action lawsuit, read the Nationwide Life Insurance class action lawsuit complaint.
If You Have Thoughts On The Nationwide Life Insurance Cost of Insurance COI Charge Class Action Lawsuit, Share Your Class Action Comments Below.
We are in the Review of Suitability stage with Nationwide Life Insurance. My father age 85 purchased a variable life policy for $250,000.
Could you put me in contact with the plaintiffs to see if it is possible that we may qualify to be part of the class action suit.
Thanks