(August 5, 2019, 10:19 PM EDT) -- GAINESVILLE, Ga. — Metropolitan Life Insurance Co. has agreed to pay $80 million to settle a class action suit alleging that the life insurer violated the Employee Retirement Income Security Act by profiting from a practice of converting life insurance benefits and by failing to pay life insurance proceeds in one lump sum to beneficiaries, according to two settlement agreements filed July 25 in Georgia federal court (Laura A. Owens et al., v. Metropolitan Life Insurance Co., No. 14-74, N.D. Ga.)....