IMPORTANT UPDATE: On November 16, 2023, 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 Final Judgment.

What is this lawsuit about?

The class action lawsuit alleges that ReliaStar Life Insurance Company ("Defendant") breached its contracts with certain policy owners. PHT Holding I LLC and Alice Curtis ("Plaintiffs") allege that Defendant breached the cost of insurance ("COI") Class Policies because Defendant imposed COI charges that were not based on Defendant’s expectations as to future mortality experience, and that Plaintiffs and members of the COI Class have been damaged as a result. Plaintiffs further allege that Defendant breached the Rider Class Policies by deducting Rider charges using rates that exceed the Rider rates expressly set forth in the Rider Class Policies. Defendant denies Plaintiffs’ claims and asserts multiple defenses; 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.

How do I know if I am in the Settlement Class?

The Court certified two Classes: the COI Class and the Rider Class.

The COI Class, which consists of, subject to the exceptions provided for in the answer to FAQ 8, all current and former owners of universal life policies issued on the following Policy Forms issued or insured by ReliaStar Life Insurance Company, or its predecessors, who were assessed COI charges during the Class Period: 82-358, 82-500, 82-501, 82-502, 82-503, 82-508, 82509, 83-187, 83-300, 83-301, 83-302, 83-303, 83-304, 83-305, 83-306, 83-307,  83-308, 83-309, 10820, 10820PA, 10830, 10830 PA, 10840, 10890, 10910, 10980, 10980MN, 11021F, 11021FMN, 11060, 11060MN, 11060-U, 11060-P, 11065, 11260, 11260MN, 11265, 73853-0, and 614680.

The Rider Class, which consists of, subject to the exception provided for in the answer to FAQ 8, all current and former owners of universal life policies issued on the following Policy Forms issued or insured by ReliaStar Life Insurance Company, or its predecessors, during the Class Period who were assessed Rider charges during the Class Period: 10830 and 10910.

The “Class Period” starts on the following dates through the date of final judgment in this action:

Excluded from the Classes are current or former owners of the COI policies or Rider Class policies issued in Alaska, Arkansas, New Mexico, New York, Virginia, Washington, and Wyoming; and Defendant, its officers and directors, members of their immediate families, and their heirs, successors, or assigns. Also excluded from the COI Class are current or former owners of the policies listed in Exhibit A of the Long Form Notice.