Jefferson-Pilot Close To Settling Class-Action Suit

The lawyers representing the plaintiffs have accused Jefferson-Pilot of misrepresenting the policies, but, in the proposed settlement, Jefferson-Pilot vigorously denies any allegations of wrongdoing.

“Jefferson-Pilot Life believes that its sales, servicing and administrative practices are — and always have been — designed to match customers’ needs with appropriate products and to fully inform customers about the operation and features of those products,” the company says in a statement about the proposed settlement.

The proposed settlement is subject to final court approval later this year.