A $6 million settlement proposal has been reached in a class action lawsuit against Nationwide. A hearing will be held on June 5th to determine if the settlement will be given final approval. The lawsuit, filed by Michael Carr, claims Nationwide charged customers more than the guaranteed maximum premium on certain term life-insurance policies issued between February 10, 1990, and February 2, 2006. The settlement could affect as many as 200,000 people, most of whom have received a notice of the proposed class action settlement. For more information, visit www.excesspremiumlitigation.com.
Source: The Columbus Dispatch
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