If you bought credit life insurance and/or credit disability insurance from Resource Life Insurance Company, you may be entitled to recover money under the Resource Life Insurance Credit Life Insurance & Credit Disability Insurance class action settlement.
Resource Life Insurance Company has reportedly agreed to a proposed settlement of a class action lawsuit against Resource Life Insurance in the Superior Court of Muscogee County in the State of Georgia (captioned as Dorothy Buckner v. Resource Life Insurance Company, Civil Action No. SU 2004 CV 241) alleging, among other things, that Resource Life Insurance Company failed to refund certain prepaid premiums to policyholders (“insureds”) who purchased single premium credit life insurance and/or credit disability insurance in connection with installment loan contracts and paid off the loans early, according to the Resource Life Insurance Credit Life Insurance & Credit Disability Insurance class action settlement notice.
Who Is Included In The Resource Life Insurance Credit Life Insurance & Credit Disability Insurance Class Action Settlement?
The Resource Life Insurance Credit Life Insurance & Credit Disability Insurance settlement class reportedly includes, unless otherwise excluded, all persons who purchased single premium creditlife and/or credit disability insurance issued by Resource Life Insurance Company in the United States, whose policies were in effect at any time between January 23, 1998 and August 11, 2010, whose insured indebtedness was paid prior to its scheduled termination while the insurance was in effect; and who have not received a full refund or credit of unearned premium; and who have not been paid credit life or credit disability claims.
What Settlement Benefits Does The Resource Life Insurance Credit Life Insurance & Credit Disability Insurance Class Action Settlement Provide?
Under the Resource Life Insurance class action settlement, Resource Life Insurance has reportedly paid $47,750,000 into a common Settlement Fund to be distributed pro rata to eligible Settlement Class Members after payment of attorneys’ fees, expenses, incentive awards and administration costs. The amount of payments to class members reportedly will be individually calculated based on the laws and regulations of the state in which the insurance policy was purchased, not to exceed 133 and 1/3 % of the refund calculated to be due.
Where Can You Obtain More Information About The Resource Life Insurance Credit Life Insurance & Credit Disability Insurance Class Action Settlement?
For more information about the Resource Life Insurance Credit Life Insurance & Credit Disability Insurance settlement, contact the Resource Life Insurance Credit Life Insurance & Credit Disability Insurance Settlement Administrator, by writing to the Settlement Administrator at PO Box 2373, Faribault, MN 55021-9073 or visiting the Resource Life Insurance Credit Life Insurance & Credit Disability Insurance settlement website at www.ResourceLifeSettlement.com, or calling 1-888-398-8204.
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