Investigation and pending class action lawsuits against Liberty National Life Insurance Company for racial discrimination claims arising from the sale of burial insurance policies.
Four African American policyholders alleged that Liberty National engaged in racial discrimination by targeting low income African Americans and selling them industrial life insurance policies with higher premiums and lower benefits than those sold to Caucasians.
Discovery in this action will reveal conduct that will be both shocking and shameful. The documentation already filed in this case includes an affidavit from a former Liberty National agent that states that Service Insurance Company (a subsidiary of Liberty National) was commonly referred to as "the black-bone of Liberty National." Liberty National will now have to answer for these practices that have been hidden from the policyholders for years.
Name (Stock Symbol)
Liberty National Life Insurance Company
Liberty National Life Insurance Company, a wholly owned subsidiary of Torchmark Corporation (NYSE: TMK), sells life insurance.
Service Insurance Company
Service Insurance Company provides a wide range of surety bonds.
Torchmark Corporation (TMK)
Torchmark Corporation, through its subsidiaries, provides individual life and supplemental health insurance products, and annuities.
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