Aetna/Voya/Lincoln Insurance Cost/Premiums Increase
Squitieri & Fearon, LLP is investigating claims against Aetna Life Insurance and Annuity Company (now called Voya Retirement Insurance and Annuity Company) and The Lincoln Life & Annuity Company of New York for increasing the cost-of-insurance on certain Universal Life policies. We are investigating whether Aetna/Voya/Lincoln improperly increased the cost of insurance starting in June 2016 in a way that violates the insurance policies. Lincoln sent letters in 2016 announcing the cost-of-insurance increases that would become effective starting on June 1, 2016. Since then policyholders have experienced large increases in their costs, often making the policies so expensive that the policyholders cannot afford to continue making the payments and must forfeit or cancel the policies. Sometimes policyholders would receive a Grace Period letter from Lincoln demanding a large payment in order to keep the policy in force.
We are investigating claims that these large increases were improper and violated the policies.
If you or someone you know has a policy with Aetna (now Voya) or Lincoln and would like to learn more about our investigation, please fill out our online form, or contact Stephen J. Fearon, Jr. at stephen@sfclasslaw.com or by phone at (212) 421-6492.