Jury Awards $28.4 Million to Kansas City Life Policyholders
After two hours of deliberations, a unanimous Jackson County, Missouri jury awarded $28.4 million to a class of Missouri owners of universal life insurance products issued by Kansas City Life. The class action was brought on behalf of more than 8,000 current and former policy owners for overcharges to the cash values of their universal life insurance policies.
The jury awarded full damages on all three counts of breach of contract, which alleged Kansas City Life systematically overcharged the class of policyholders over the past 30 years. (Karr v. Kansas City Life Insurance Co., 1916-CV26645).
Patrick Stueve, lead trial counsel for Mr. Karr and the Missouri class, stated, “This verdict will provide substantial relief to Mr. Karr and the class; and is particularly gratifying in light of our efforts to try to resolve this case many times prior to trial.”
The Karr case is one of five state-wide class actions being prosecuted by Stueve Siegel Hanson LLP and Miller Schirger LLC claiming Kansas City Life has systematically overcharged its universal life insurance policyholders for decades.
Stueve Siegel Hanson and Miller Schirger are prosecuting several other cases on behalf of life insurance policyholders, alleged to have been overcharged. To learn more about the Karr case or to see if your Kansas City Life policy may be included in the class, please click here.