IMPORTANT UPDATE: In July 2023, a notice about the lawsuit was sent to the Class. On January 17, 2024, a supplemental notice was distributed because Plaintiffs and Defendants determined that the Notice sent in July 2023 was inadvertently not distributed to certain policies at issue in the Settlement. If you were sent a supplemental notice, please read it carefully, as it discusses your rights as a Class Member in the Settlement. For more information, please read the Notice here.

What is this lawsuit about?

A proposed settlement (the “Settlement”) has been reached in two consolidated class action lawsuits called In re: Lincoln National COI Litigation Case No.: 2:16-cv-6605-GJP (E.D.Pa..) and In re: Lincoln National 2017 COI Rate Litigation 2:17-cv-04150-GJP (E.D.Pa.) Plaintiffs in the Actions allege that Defendants Lincoln National Corporation and The Lincoln National Life Insurance Company (collectively, “Lincoln”), breached their contracts with certain policyowners. Specifically, in or about August and September 2016 and June and July 2017, Lincoln sent those policyowners letters announcing that their insurance policies would be subject to cost of insurance (“COI”) rate increases (collectively, the “COI Increases”). Plaintiffs contend those COI rate increases violated the terms of the policyowners’ contracts and/or violated certain state consumer protection statutes, and that Plaintiffs and similarly situated policyowners have been damaged as a result. Lincoln denies Plaintiffs’ claims that the COI Increases violated the terms of the affected policies or the state consumer protection statutes, and asserts multiple defenses, including that Lincoln’s challenged actions are lawful, justified, and have not harmed or caused any damages to any policyowner.

Plaintiffs and Lincoln have agreed to the Settlement to avoid the risks, costs, and delays of further litigation (including an appeal) so that affected policyowners will get a chance to receive prompt compensation.

How do I know if I am part of the Settlement Class?

You are in the Settlement Class if you are an Owner of any of the following policies sold by Jefferson Pilot (which was acquired by Lincoln) or by Lincoln (after its acquisition of Jefferson Pilot), and later subjected to an increase in the COI Increases announced by Lincoln in 2016 or 2017:  JP Legend 300, JP Lifewriter Legend 100, 200, and 400 series, JP Legend 3000, LifeSight 30, LifeSight 31, LifeSight 32, JP UL 101, JP UL 102, JP UL 103, JP UL 130, JP UL 131, and Vision 20 life insurance policies, unless your policy is an Excluded Policy as defined by the Settlement Agreement.

What does the Settlement provide?

Under the proposed Settlement, Lincoln has agreed to establish a cash fund containing up to $117,750,000 (the “Settlement Fund”) to be distributed among the Owners of the Final Settlement Class Policies. The Settlement Fund will be reduced by an amount equal to $117,750,000.00 multiplied by the sum of the Policy Claim Percentages for all Class Policies that are not Final Settlement Class Policies. After payment of the costs to administer the Settlement, attorneys’ fees and expenses, and any incentive and/or service awards to the Class Representatives, the Settlement Administrator will distribute the remaining amounts to the Owners of the Final Settlement Class Policies in proportion to their share of the overall Policy Claim Amounts collected from such policies through September 30, 2022.  For more information, please see FAQ 10.