(May 2025) – Schirger Feierabend LLC and co-counsel Stueve Siegel Hanson LLP have settled a class action lawsuit against Symetra Life Insurance Company (Symetra) over alleged life insurance policy overcharges. The settlement was approved by the court on May 19, 2025 and provides that Symetra will pay $32.5 million (less fees and expenses) in cash compensation to approximately 43,000 policies in the settlement class.

The case is Dennis E. Davis vs. Symetra Life Insurance Company (more info) and was filed in April 2021 in the Western District of Washington (Seattle) on behalf of Dennis Davis and other individuals who own or owned the MasterPlan, Executive MasterPlan, MasterPlan Plus, Joint MasterPlan and Juvenile MasterPlan Plus universal life insurance policies issued in Arizona, California, Florida, Illinois, Indiana, Kentucky, Minnesota, Missouri, South Carolina, Texas and Washington that were in force on or after January 1, 2000, that were issued by American States Life Insurance Company and administered by Symetra or its predecessors in interest. The suit alleged that Symetra breached the policies by overcharging policyholders through cost of insurance and expense charges within the policies and failed to reduce certain charges despite improving expectations of future mortality, causing the policies to lose value and in many cases lapse, leaving many without life insurance. Symetra denied all liability or wrongdoing.

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.