IMPORTANT UPDATE: On October 27, 2022, the Court granted final approval of the Settlement. It was not required for Class Members to attend the Fairness Hearing. For more information, please review the Order Entering Final Judgment.

What is this lawsuit about?

The class action lawsuit alleges that Genworth Life & Annuity Insurance Company ("GLAIC") breached its contracts with certain policy owners. Starting September 2019, policy owners were issued letters announcing that their insurance policies would be subject to cost of insurance ("COI") rate increases. Plaintiffs assert those COI rate increases violated the terms of the policy holders’ contracts, and that Plaintiffs and members of the Class have been damaged as a result. GLAIC denies Plaintiffs’ claims; however, both sides have agreed to the Settlement to avoid the risks, costs, and delays of further litigation, including an appeal, so that people affected will get a chance to receive compensation.

Who is included?

The Settlement Class consists of all owners of Gold and Gold II universal life insurance policies issued, insured, or assumed by GLAIC, or its predecessors or successors, whose COI Rate Scales were changed as a result of the 2019 COI Rate Adjustment. See FAQ 3 and FAQ 8 for more information.

How can I be eligible to receive a settlement payment?

You will automatically receive a payment in the mail if you are entitled to one. No claims need to be filed. The payments will be mailed to the last known address based on GLAIC’s administrative system, after they are run through the National Change of Address database. If you would like your payment to be mailed to a different address, please contact the Settlement Administrator and submit an address update. For more information regarding settlement payments, please review FAQs 12-13.