Description: The class action lawsuit alleges that Genworth Life & Annuity Insurance Company ("GLAIC") breached its contracts with certain policy owners. Starting September 2019, policy holders were issued letters announcing that their insurance policies would be subject to cost of insurance ("COI") rate increases. Plaintiffs assert those COI rate increases violated the terms of the policy holders’ contracts, and that Plaintiffs and members of the Class have been damaged as a result. GLAIC denies Plaintiffs’ claims; how
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If you own or owned a Gold or Gold II Universal Life Policy insured by Genworth Life & Annuity Insurance Company that was subject to a COI rate change announced in 2019, your rights and options may be affected by a class action settlement
IMPORTANT UPDATE: On October 27, 2022, the Court granted final approval of the Settlement. It was not required for Class Members to attend the Fairness Hearing. For more information, please review the Order Entering Final Judgment .
The class action lawsuit alleges that Genworth Life & Annuity Insurance Company ("GLAIC") breached its contracts with certain policy owners. Starting September 2019, policy owners were issued letters announcing that their insurance policies would be subject to cost of insurance ("COI") rate increases. Plaintiffs assert those COI rate increases violated the terms of the policy holders’ contracts, and that Plaintiffs and members of the Class have been damaged as a result. GLAIC denies Plaintiffs’ claims; howe