A fair amount was written in the press recently about a case where an insured, about to turn 100, is going to see his two Transamerica UL policies with a $3.2 million combined death benefit terminate as he hits the century mark.
Gary Lebbin filed a lawsuit against Transamerica in late July, alleging that for decades carriers such as Transamerica sold permanent universal life policies, marketed as “insurance for life,” utilizing outdated mortality tables that did not take into account that Americans are increasingly living past 100.
The complaint says the result has been “the improper ter
Source of insurance-forums.net
Gary Lebbin filed a lawsuit against Transamerica in late July, alleging that for decades carriers such as Transamerica sold permanent universal life policies, marketed as “insurance for life,” utilizing outdated mortality tables that did not take into account that Americans are increasingly living past 100.
The complaint says the result has been “the improper ter
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