Vermont judge dismisses two National Life companies from IUL lawsuit
September 23, 2025 by John Hilton
A Vermont judge dismissed a pair of National Life companies from a lawsuit over an indexed universal life policy that returned 0%.
Sanya Virani, of Indiana, claims the IUL relies on back-tested historical performance that does not match reality and is “a fraudulent sham.” She initially filed suit nearly a year ago in the U.S. District Court for the District of Vermont, where NLV Financial Corp. is headquartered.
Wink’s Moore on the Market: Remember that class action lawsuit against National Life Group and Life Insurance Company of the Southwest, regarding their hybrid index on their indexed life contracts?
You know the one, where the case was filed about a month after the first policy anniversary?
The one that centered around the client earning zero interest?
The one that appeared as if the attorneys were anticipating the indexed gains, before the first anniversary had even passed?
Yeah, well, the judge dismissed the case against National Life, but the case against LSW remains active.
