$325 Million Settlement for State Farm Life Insurance Policyholders

06.30.2023

Stueve Siegel Hanson represented universal life insurance policyholders who alleged that State Farm Life Insurance Company was breaching their life insurance policies by using unauthorized factors to determine monthly cost-of-insurance rates, inflating the charges. After nearly seven years of hard-fought litigation spread across 10 different jurisdictions across the country, the case was settled on a nationwide basis in 2022 for $325 million.

The settlement is the largest known class action settlement paid by State Farm and the largest settlement reached in cost of insurance litigation.