Renewed Motion Seeks Preliminary OK Of $92.6M Life Insurance Class Settlement

Mealey's (February 2, 2022, 3:37 PM EST) -- NEW YORK — Asserting that issues a New York federal judge cited in denying a previous motion without prejudice had been addressed, a life insurance policyholder who challenged a 2016 cost of insurance (COI) increase on Jan. 19 renewed her request for preliminary approval of a class action settlement; the proposal includes a $92.5 million payment by administrator and reinsurer Lincoln National Corp., a five-year COI freeze and a waiver of policy validity defenses....