Description: This lawsuit alleges that John Hancock increased COI rates on certain Performance Universal life insurance policies beginning in 2018 and 2019 unlawfully and in violation of the terms of the policies. John Hancock denies these claims.
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If you are the current or former owner of a Performance Universal life insurance policy issued by John Hancock that was subject to a cost of insurance rate increase, your rights may be affected by a class action settlement
The lawsuit alleges that Defendants, John Hancock Life Insurance Company of New York and John Hancock Life Insurance Company (U.S.A.) (collectively, “John Hancock”) increased cost of insurance (“COI”) rates on certain Performance Universal Life policies (“Class Policies”) beginning in 2018 and 2019 unlawfully and in violation of the terms of the policies (the “COI Increase”). The lawsuit further alleges that John Hancock violated certain state statutes for issuing false and misleading illustrations regardin
The Settlement Class consists of current and former owners of any universal life insurance policy issued by John Hancock, or its predecessors, that were subjected to the COI Increase, excluding the Excluded Policies. For more information regarding the Settlement Class, please review FAQ 5-7 .