Are you over 60 and bought annuity issued by Great American Life Insurance Co. before September 1, 2017? If you did then you may be eligible for a potential award from the Great American Life Insurance Class Action Lawsuit. Great American Life Insurance is accused of using misleading disclosures to conceal penalties associated with surrendering policies. Great American Life Insurance allegedly failed to comply with California’s surrender charge disclosure requirements and engaged in financial abuse of an elder under California law. While Great American Life Insurance Co. continue to deny all allegations but has agreed to settle the matter with a varying sum of money. If you were, you are eligible, file a claim by February 28, 2018 to receive your potential award!
Great American Life Insurance Class Action Lawsuit:
- Great American Life Insurance Class Action Lawsuit
- Claim Form Deadline: 02/28/2018
- Who’s Eligible:
- Subclass 1 – Purchaser aged at 60 years or older that incurred surrender charges on your annuity before September 1, 2017 are entitled to a partial refund of $5 or 35% of the total surrender charges incurred on each annuity. No claim form is required as checks are automatically mailed to class members.
- Subclass 2 – Annuity holders that has not incurred any surrender charges on or before September 1, 2017, you may be eligible for Enhanced Withdrawal Benefit, a one-time withdrawal from the annuity without the deduction of surrender charges. File your claim by expiration date.
- Estimated Amount: Varies
- Proof of Purchase: Provide owner’s name, address, and annuity policy number.
- Case Name & Number: Goertzen v. Great American Life Insurance Co., Case No. 4:16-cv-00240 (YGR), in the U.S. District Court for the Northern District of California
How To File A Claim:
- Head over to Great American Life Insurance Class Action Lawsuit.
- Look over the claim form to see if you are eligible.
- Complete the claim form with your information.
- Submit your claim by February 28, 2018 to receive your potential award!
Bottom Line:
For individuals that are 60 or older and has bought annuity from Great American Life Insurance Co. before September 1, 2017, then you may be eligible for a potential award from the Great American Life Insurance Class Action Lawsuit! According to the lawsuit, Great American Insurance Co. engaged in financial abuse of an elder under California law. Great American Life Insurance Co. has decided to settle the matter so if you are eligible, file a claim by February 28, 2018 to receive your potential award! Don’t forget to take a look at our full list of Class Action Lawsuit Settlements!
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What if we didn’t know about this lawsuit till today 3/4/2019 ?