A whistleblower lawsuit filed in Minnesota under that state's False Claims Act alleges that MetLife and Prudential Financial have failed to pay millions in life insurance benefits. The suit centers on how the companies handle unclaimed life insurance benefits; under Minnesota law life insurance companies are required to notify the state when life insurance benefits are unclaimed for three or more years and to turn the monies over to the state, which is then required to try and locate the appropriate beneficiaries. The suit was filed in federal district court in Minneapolis; similar suits in California and Florida were settled by Prudential.
Source: Minneapolis Star-Tribune
Lexington, Kentucky insurance claims lawyer Robert Abell represents claimants and policyholders seeking insurance policy benefits owed them; contact him at 859-254-7076.