North American Company For Life And Health Insurance Cost/Premium Increase
Squitieri & Fearon, LLP is investigating possible claims for a class action against North American Company For Life And Health Insurance for improperly using its cost-of-insurance charges as a profit mechanism and not reducing those charges as projected mortality rates have improved, especially for certain universal life policies. We are investigating whether North American is charging more than it should for the cost of insurance or deducting from the cash value of the policies more than it is entitled to deduct, causing the cash value to decrease and sometimes causing the policies to lapse or to be cancelled because the costs are excessive.
This has happened mostly with the Company’s universal life policies.
If you or someone you know has a universal life policy with North American 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.