LOS ANGELES (AP) — MetLife Inc. will pay nearly $500 million in a settlement involving more than 30 states that claimed it didn't provide life insurance benefits to some of its policyholders, the company said Monday.
The largest life insurer in the United States said it expects to pay about $188 million of the $478 million this year, and the remainder over the next 17 years.
State regulators investigated MetLife's use of the Social Security Administration's "Death Master" file, a database of people who have died.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
