$65 Million Life Insurance Settlement for State Farm Policyholders

(August 2023) – Schirger Feierabend LLC (f/k/a Miller Schirger LLC) and co-counsel Stueve Siegel Hanson LLP secured nationwide $65 million settlement on behalf of State Farm policyholders who own or owned particular forms of universal life insurance policies. The class action was brought on behalf of approximately 450,000 policy holders. Universal life insurance is a type of life insurance that includes an interest-bearing savings account from which the insurer deducts money each month to cover certain policy charges. Plaintiffs in Niewinski v. State Farm Life Insurance Co., alleged that State Farm took improper deductions from the cash values of its policies, systematically overcharging members of the class for decades.

The case is one of several cases across the country being prosecuted by Schirger Feierabend LLC and Stueve Siegel Hanson LLP against life insurance companies for overcharging universal life insurance policyholders. If you have a universal life insurance policy that you would like to have evaluated, or want more information, please contact us.