A lawsuit has been filed by Consumer Watchdog against Transamerica Life Insurance Company, alleging the company violated its policyholder agreement by raising premium rates 38 percent in 2015. “Universal life insurance” is a type of life insurance product that provides cash value which is affected by the cost of insurance, or COI. Pacific Life Rolls out a NEW IUL Policy. This review examines Pacific Life’s new cost/benefit paradigm within their new PDX product. This article is separated into three sections. Founded in 1868, this mutual company is headquartered in Newport Beach, California. Nationwide IUL Accumulator II $24,108 $25,660 $31,397 $4,497 North American Builder Plus IUL 2 $19,936 $31,312 $33,231 $4,085 Pacific Life Discovery Xelerator 2 (40%) $23,912 $27,589 $40,911 $4,506 Penn Mutual Accumulation Builder Flex $22,038 $31,734 $37,131 $4,828 Principal IUL Accumulation II $23,192 $29,099 $31,350 $4,548 But this type of insurance offers the flexibility of adjustable life insurance premiums at face value, with an opportunity to increase its cash value without the risk of investing in securities, such as stocks. An IUL class action lawsuit investigation is underway to probe into allegations that people who purchased Indexed Universal Life (IUL) insurance policies were misled into expecting unrealistic rates of return that comes after insurance companies presented used fabricated and false illustrations in marketing literature and sales material. is_redirect && ! If you have purchased either Minnesota Life’s Eclipse Indexed Universal Life Insurance or Pacific Life’s Pacific Discovery Xelerator (PDX) life insurance within the last five years, and still maintain the policy, you may be able to join this universal life insurance lawsuit or class action lawsuit investigation. Sign up for our free newsletter. Breach of Fiduciary Duty. I’m so frustrated with the trend of how NEW Indexed Universal Life (IUL) policies are being designed that I wanted to offer a WEBINAR explaining the problems with these NEW designs and compare them to the old designs.. WEBINAR -The Pros and Cons of New vs. Old IUL Designs On Recording (one of the best webinars you will ever attend) With an “indexed universal life” policy, the interest rate is tied to the markets. Pacific Life; Indexed Universal Life Insurance; Equity-based Universal Life Insurance; Equity-based Life Insurance; According to our research, a majority of the fraud occurs in the “sales phase” of the purchase process, wherein the salesperson presents the consumer with an illustration of the possible policy benefits. Someone in the industry forwarded me a lawsuit filed in Orange County last week against Pacific Life and, particularly, addressing the best-selling PDX product. Generally, this is approximately two percent, but can be greater depending on the underwriting company. Take a photo of a faulty item and add a brief description. Are You Affected by the TGI Friday’s Mozzarella Stick Class Action Lawsuit? Indexed Universal Life Insurance products do not directly participate in … Read More. If you purchased the Pacific Discovery Xelerator (PDX) Universal Life policy from PacLife or the Eclipse IUL from Minnesota Life in the last 5 years, you may qualify to join this universal life insurance lawsuit or class action lawsuit investigation. Indexed universal life (IUL) insurance boasts the security of fixed universal life policies and the interest-earning potential of variable policies. When the interest rates are bound by the movement of the stock or bond market, this becomes an “Indexed Universal Life,” or IUL insurance policy. Fraud and Deceit. You can change these settings at any time. © 2020 considertheconsumer.com, IUL Class Action Lawsuit Investigation Claims False Marketing, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on WhatsApp (Opens in new window). However, these may be misrepresented or exaggerated by linking returns with the performance of a selected stock index such as that of the S&P 500 or the Dow Jones Industrial Average. Class Action Rebates | Cash You Can Claim!