John Hancock Class Action Lawsuit


Class Action Lawsuit: Class Action Settlement Checks For Creditors

The John Hancock Class Action Lawsuit is a class action lawsuit challenging the policies and plans of John Hancock Life Insurance Company. The class action lawsuit is currently under consideration in the Superior Court of the State of California; specifically, for the County of Alameda.

The complaint describes a pattern or policy violation that would result in billions of dollars in damages. The complaint further describes that the policies and plans of John Hancock were and are illegal violations of insurance laws passed by Congress, namely the Affordable Care Act (ACA) and/or the Health Insurance Portability and Accountability Act (HIPAA).

John Hancock Class Action Lawsuit

The complaint states that the policies and plans of John Hancock violate both federal and state statutes. Specifically, the complaint claims that John Hancock failed to apply a uniform rate to its policy holders on the basis of their present age, their expected future age, their gender, their health status, the severity of their pain and suffering, the number of their dependent persons, the nature of their work, the amount of their home mortgage loan, the total value of their life insurance policy, the amount of their taxes (federal and state), and the length of time they have lived with their current employer.

As a direct result of this illegal act, many class members’ premiums have increased substantially, and many have sustained financial hardships as a result of this action. Further, the policies and plans of John Hancock also fail to make reasonable accommodations for many class members who suffer from pre-existing medical conditions, leading to their inability to obtain necessary health care and coverage. Finally, and perhaps most importantly, the policies and plans of John Hancock fail to provide any monetary or non-monetary benefits to the named plaintiffs that justify the cost of their lawsuit.

Class members who elect to join the Hancock Class Action lawsuit are sent written notice that there is a Class Action lawsuit against them, and that they must either attend or consent in writing to attend or refuse such a lawsuit.

On the written form of consent to attend the lawsuit, class members are also instructed that if they wish to opt out of the lawsuit they must do so no less than sixty days prior to the start of the lawsuit. This written notice of the class action lawsuit is called a “duly-instructed” notice of class action lawsuit. (DU-L.)

Once a class action lawsuit has been filed in Federal court, (the U.S. District Court for the Northern District of Illinois) then the plaintiff must either pay the defendant’s attorney fees, or send by certified mail to the defendant an estimate of their claim amount, along with copies of the complaint, answer, and proof of service.

This estimate of Claim amount is called a “settlement amount.” The settlement amount is typically paid directly to the named defendant’s insurance carrier and is distributed by the Insurance carrier to the named defendant’s named creditors. If a class action lawsuit has been filed against more than one defendant, then all of the named defendant’s creditors will be sent separate settlement amounts.

A class action lawsuit is a legal process in which there is a coordinated effort on the part of many named defendants to settle a matter through arbitration or through court.

When this happens, rather than one payment being made out to each defendant, several settlement payments are made to the named plaintiff. John Hancock sued his former employer and was awarded a $1.75 million dollar settlement by the court. His company was ordered to pay him the full amount.

How do the class action lawsuit settlement per person work?

There are two primary ways to calculate the Settlement Amount. One is by one-time settlement payments, and the second is a percentage of one-time settlement amount multiplied by the number of plaintiffs. For instance, if there are twenty plaintiffs and one-time settlement payment is $100, then the class would pay that amount to each of those plaintiffs. The percentage to be used is usually about 10% of the total settlement amount.

3 thoughts on “John Hancock Class Action Lawsuit

  1. Can i sue john Hancock for not giving me an option to withdraw money from dividend vs a loan. This is a 31 year old policy. I have a huge loan because it was never disclosed to me until a coupe months ago.

  2. John Hancock has been delaying my 401k rollover to another entity, and in the mean time I have lost 12K.
    what should i do?

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