UPDATE: On September 29, 2023, the Court entered an Order granting Final Approval of the Settlement. Distribution of Settlement Awards began on November 13, 2023. Please allow up to 21 days for delivery of your paper check. Please email info@AGLICClassAction.com if you have any questions.
Settlement Information
Defendant, American General Life Insurance Company (“AGLIC”) is a life insurance company that issues and administers various forms of life insurance, including universal life insurance. Federal tax law imposes limits on the maximum premium payments that can be paid towards a universal life insurance policy at a given time. The Plaintiffs in the lawsuit allege that AGLIC breached its contracts with owners of universal life insurance policies by issuing Illustrations and Annual Statements that did not properly reflect the effect of limits on the maximum premium contributions allowed by federal tax law. AGLIC denies the Plaintiffs’ allegations.
Who Is a Class Member?
The Settlement affects current and former owners of AGLIC Universal Life insurance policies (“ULs”) for which Illustrations or Annual Statements were issued that may not have accounted for federally imposed premium contribution limits. The Settlement establishes two Settlement Classes: a Damages Settlement Class and an Injunctive Settlement Class. To qualify as a member of either Settlement Class, or both Settlement Classes, you must meet certain criteria, described in Question 5 of the FAQ page. The Settlement does not affect owners of ULs that have previously settled their individual claims, or that timely and validly exclude themselves from the Settlement by August 28, 2023.
Your Legal Rights and Options
Option and Deadline |
Your Legal Rights |
Do Nothingno deadline |
If you are an Identified Damages Settlement Class Member, you should receive notice by mail informing you of the Settlement. You do not need to do anything, and you will receive a check in the mail constituting your benefit under the Settlement.
If you are not an Identified Damages Settlement Class Member but believe you meet the Identified Damages Settlement Class Member Criteria (as described in Question 5 of the FAQ page), you are eligible to submit a Claim to receive money from the Settlement. |
Submit a Claimdeadline passed |
If you are not an Identified Damages Settlement Class Member but believe you meet the Identified Damages Settlement Class Member Criteria (as described in Question 5 of the FAQ page), you are eligible to submit a Claim to receive money from the Settlement. That is the only way you will be eligible to receive money from the Settlement. To make a Claim, you must follow the procedures described in detail in Question 8 of the FAQ page. |
ASK TO BE EXCLUDED (OPT OUT)deadline passed |
If you are a Damages Settlement Class Member, you can ask to exclude yourself (also called “opting out”) from the Settlement by August 28, 2023. Submitting a timely and valid request to be excluded is the only way you can be a part of any other lawsuit against AGLIC with respect to the Released Claims.
Injunctive Settlement Class Members cannot exclude themselves from the Settlement. |
Object to the Settlementdeadline passed |
If you are a Settlement Class Member and you object to the Settlement, you can make that objection by writing to the Court and explaining what about the Settlement you object to. If you are a Damages Settlement Class Member, you can object to the Settlement only if you do not exclude yourself from the Settlement. |
Attend the Fairness HearingOn September 29, 2023 at 10:00 A.M. |
If you file a timely objection and request an opportunity to speak to the Court (in accordance with the procedures set forth in this Notice), you may speak in Court, at the Court’s discretion, about the fairness of the Settlement. |
Dates and Deadlines
Claims Deadline
August 28, 2023
Exclusion Deadline
August 28, 2023
Objection Deadline
August 28, 2023
Fairness Hearing
September 29, 2023