JH Hancock Settles Cost of Insurance Case For Over $91 Million

John Hancock, in a court filing posted last Friday in the Southern District of New York, agreed to pay just over $91 million to plaintiffs who participated in a lawsuit alleging the carrier had forced them to pay “unlawful and excessive” cost of insurance expenses in universal life policies.  This particular suit was different than others [...]

2018-09-11T18:20:42-05:00July 23rd, 2018|BLOG, Uncategorized|1 Comment

First John Hancock Cost of Insurance (COI) Increase Letters Arrive

In February of 2017 we reported John Hancock had placed limitations on inforce ledgers for certain Performance UL policies.  A year later, in February of this year, we wrote that The Life Settlements Report, a trade publication, reported that John Hancock had voluntarily notified the state of New York that it would be raising the cost [...]

New Report on Interest Rates and Life Insurance Carriers Notes Concern

In the past few years, we have had no shortage of entries about the historic low-interest-rate environment and the beating that life insurance policies took because of it.  Whole life dividends have dropped, current assumption universal life performance has been driven down, and in some cases, cost of insurance (COI) increases have raised carrying costs by [...]

2018-09-11T18:20:42-05:00May 7th, 2018|BLOG, Uncategorized|0 Comments