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Keller Rohrback L.L.P. Investigates Life Insurance Companies Regarding Retained Asset Accounts

^{Published on 2010-07-30 17:40:55 - Market Wire}
 

SEATTLE--([ BUSINESS WIRE ])--Attorney Advertising. Keller Rohrback L.L.P. ([ www.erisafraud.com ]) announces that it is investigating several national life insurance companies, including MetLife, Inc. (NYSE: MET) and Prudential Financial, Inc. (NYSE: PRU), as well as Genworth Financial Inc., Guardian Life Insurance Co. of America, New York Life Insurance Co., Northwestern Mutual Life Insurance Co., and Unum Group, regarding retained asset accounts the companies maintain on behalf of life insurance beneficiaries. The investigation centers on claims that certain life insurance companies are improperly profiting through these accounts by issuing what look like checkbooks to beneficiaries instead of promptly paying lump sums, which delays the issuance of full death benefits. These acheckbooksa draw on money held by the insurance companies in accounts that continue to earn interest for the insurance companiesa"money that belongs to the beneficiaries of the deceased.

Various reports allege that MetLife, Prudential, and other life insurance companies, may have violated the Employee Retirement Income Security Act (aERISAa), engaged in additional illegal breaches of fiduciary duty, or violated other laws by delaying direct payment of death benefits to beneficiaries and by failing to inform beneficiaries, and others, that the companies are earning five to ten times as much interest as what they are paying the beneficiaries. Additionally, account holders may not be fully informed regarding the terms of the retained asset accounts or that the funds held in the account are not insured by the FDIC.

If you are a beneficiary of a life insurance policy and your benefit is held in a retained asset account at MetLife, Prudential, or another life insurance company, please contact paralegal Jennifer Tuatoa™o or attorneys Gretchen Obrist, Laura Gerber, Gary Gotto or Lynn Sarko at 800.776.6044 or via email at [ info@kellerrohrback.com ].

Keller Rohrback, with offices in Seattle, Phoenix, and New York, is one of Americaa™s leading law firms handling ERISA litigation and related fiduciary breach claims. We are committed to helping individuals protect their savings and other benefits. Keller Rohrback has successfully provided class action representation for over a decade. Its litigators have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

Attorney Advertising.Prior Results Do Not Guarantee A Similar Outcome.