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Court Grants Final Approval to FAMLI Credit Life Insurance Settlement

On August 24, 2018, United States District Court Judge Michael H. Watson entered an order granting final approval to a class action settlement negotiated by Goldenberg Schneider and its co-counsel on behalf of thousands of owners of credit life insurance policies issued by Financial American Life Insurance Company (“FAMLI”).  The lawsuit challenged FAMLI’s practice of denying claims for credit life insurance benefits because of alleged misrepresentations made by the insureds at the time of the insurance applications.  The Settlement Agreement created a $1.13 million Settlement Fund for the benefit of the Class. 

The case is O’Donnell v. Financial American Life Insurance Co., S.D. Ohio No 2:14-cv-01071.

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