Life Investors Insurance Company might have unilaterally and unlawfully reduced the benefits paid to policy holders diagnosed with cancer for chemotherapy from the amount charged by the healthcare provider to s reduced amount covered by Medicare or other insurance.
This is an ongoing investigation and pending class action against Life Investors Insuance Company.
The class action lawsuit seeks to represent a class of cancer insurance policyholders in Pennsylvania and challenges Life Investors’ reduction in its benefits payments for chemotherapy and radiation therapy.
In April 2006, Life Investors stopped paying benefits based on the charges set forth in healthcare providers’ bills as its policies required, and began paying reduced benefits based on the amounts the providers were paid by Medicare or other insurance.
Name (Stock Symbol)
Life Investors Insurance Company
Life Investors Insurance Company sells insurance products and annuities. Insurance Company of America has merged with the Transamerica Life Insurance Company.
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