Burg Simpson Files Nationwide Class Action Lawsuit Against Western-Southern Life Insurance Co.
Burg Simpson Eldredge Hersh & Jardine, P.C. has filed a nationwide class action lawsuit against Western-Southern Life Assurance Company and The Western and Southern Life Insurance Company relating to the sale of Western and Southern’s Single Premium Immediate Annuity (SPIA).
The nationwide class action complaint, case no. 1:11-cv-00836, filed in federal court in the Southern District of Ohio, alleges that Western and Southern breached its SPIA contracts by failing to pay annuity benefits to the annuitant for his/her lifetime. The SPIA contract requires Western and Southern to pay the annuitant’s designated beneficiaries the annuity payments to the minimum guarantee date, but if the annuitant lives beyond the minimum guarantee date, the contract requires payment for the lifetime of the annuitant. The class action complaint also alleges that Western and Southern negligently or fraudulently misrepresented to plaintiff and potential class members that, even if they lived beyond the minimum guarantee date, they were only entitled to benefits up to the guarantee date and not for the remainder of their life. Plaintiff’s complaint seeks declaratory relief and compensatory damages on behalf of Plaintiff and all Class members.