Migliaccio & Rathod LLP is investigating whether beneficiaries of Vermont group life insurance policies received all interest required when their death benefits were paid.
Group life insurance is commonly provided through employers, associations, and other organizations. Vermont’s insurance regulators have explained that the state’s death-benefit interest requirements may apply to qualifying group life policies and certificates, not only individually purchased policies.
Migliaccio & Rathod is investigating whether insurers paid group life death benefits without required interest or calculated interest using incorrect rates or dates, potentially reducing the amounts beneficiaries received.
Beneficiaries May Have Experienced:
- Receiving group life insurance proceeds without an interest payment;
- Being told interest was not available because the policy was provided through a group;
- Receiving interest calculated from a date later than the insured person’s death;
- Receiving less interest than the applicable Vermont requirements provide; or
- Difficulty obtaining an explanation of the insurer’s interest calculation.
Potential Claims May Include:
- Failure to pay required death-benefit interest;
- Incorrect calculation of group life insurance benefits;
- Breach of applicable insurance or plan terms; or
- Other remedies available under governing state or federal law.
Signs You May Be Affected:
- You received group life insurance benefits connected to Vermont;
- The policy was provided through an employer, association, or other group;
- Your death-benefit payment did not include identifiable interest;
- The insurer calculated interest using an unexpected starting date;
- You have a benefit statement or payment records; or
- You believe the insurer paid less than the amount legally required.
If you believe you experienced this issue, we would like to hear from you. Please complete the contact form on this page, send us an email at [email protected], or give us a call.