Life Insurance Rate Hike Denied by Federal Judge

Life Insurance Rate Hike Denied by Federal Judge

A life insurance rate hike was denied by a federal judge who argued the increase, which tripled policyholder’s current premiums, was a contract violation. Policyholders sued Indiana-based Conseco when the company wanted to raise premiums three-fold in 2002. Conseco Investment Failure Causes Rate Hike The rate hike was initiated by Conseco after the company lost a bundle in an ill-judged financial acquisition of mobile homes, according to Investment News. Conseco declared bankruptcy and it was…

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