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To: Ilaine who wrote (933)3/17/2001 7:24:59 PM
From: Ish  Read Replies (1) of 6901
 
You are in the right bidness but the wrong branch. -

In December, a judge in Albuquerque approved the settlement of a class-action lawsuit against Primerica Life Insurance in which the class's lawyers get about $7.5 million in costs and fees while only two people out of the 6 million-customer "class" get any money at all ($30,000 each). Also imminent until mid-February was the settlement of a similar lawsuit against Massachusetts Mutual Life Insurance in which the class's lawyers would receive $5 million plus other benefits while only two members of that 3 million-customer "class" would get any money at all (a total of $350,000). (Because of heavy criticism in the latter case, the settlement collapsed in mid-February.) Both lawsuits came about when lawyers felt the insurance companies had not disclosed the precise charges for customers who pay premiums monthly instead of annually. [Albuquerque Journal, 2-18-01, 2-23-01]
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