Transamerica Life Insurance Co. Agrees to $110M Settlement Over Claims it Failed to Credit Certain Cash Value Increases to Eligible Life Policies

Transamerica Life Insurance Co. agreed to a $110 million class action settlement to resolve claims that it failed to credit certain cash value increases to eligible Direct Recognition Life policies.

The Transamerica settlement benefits individuals who own or owned a Transamerica Life Insurance universal life insurance policy that was in effect on Jan. 1, 2016, and was known by the product names “Direct Recognition Life 10” or “Direct Recognition Life 11,” or by the attribute codes “DRL-10” or “DRL-11.”

Read more at Top Class Actions