Insurance
May 20, 2016
Customers accuse Transamerica of trying to wiggle out of life insurance payments
The Los Angeles suit is one of three nationwide alleging Transamerica gave its universal life insurance policyholders ultimatums.
Daily Journal Staff Writer
A class action accusing Transamerica Life Insurance Co. of promising thousands of customers a 5.5 percent annual investment return in the 1980s on a combination retirement savings and death benefit plan, then attempting to recoup its losses through higher monthly payments once the model was no longer financially tenable, was the subject of intense legal wrangling this week...
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