Ultimate Irony- Major Life Insurance Firms Settle with State AG’s
Courtesy of Dr. Paul Price (at Real Money)
MetLife, Prudential and John Hancock agreed to pay $40 MM, $17 MM and $12 MM respectively to make a multi-state probe go away.
These companies were routinely cross-checking Social Security death records to prevent recurring annuity benefit payments going out to deceased policy holders. That seems fair and logical. In fact, SS itself has been criticized for wasting huge sums
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