National Life: plaintiff promotes ‘odd theory’ in IUL lawsuit over 0% return
January 9, 2025 by John Hilton
Claiming that a plaintiff’s lawsuit over a disappointing indexed universal life (IUL) return rests on “an odd theory,” NLV Financial Corp. is asking a Vermont court to dismiss the complaint.
Sanya Virani, of Fortville, Ind., sued NLV Financial Corp. and two life insurance subsidiaries over a 2023 indexed universal life policy that returned 0% after one year.
Sanya Virani claims that the illustrations she was shown rely on back-tested historical performance that does not match reality and is “a fraudulent sham.”
Wink’s Moore on the Market: More on that National Life lawsuit over IUL…
Again- filing a class action lawsuit over a policy’s performance, when the contract is one year and 13 days old?
Something is fishy here.
Besides- it isn’t like the purchaser couldn’t allocate their premiums to other indexing strategies or the fixed bucket.
Those purchasing indexed life know that in any given year, they may receive 0% interest crediting.
Sounds like a fishing expedition to me. -sjm
