.png)
Individuals who own or owned a universal life or variable universal life insurance policy issued by Hartford Life Insurance Co., Hartford Life and Annuity Insurance Co., Talcott Resolution Life Insurance Co. or Talcott Resolution Life & Annuity Insurance Co. that was subject to a premium tax charge may qualify to receive a cash payment from a class action settlement.
Talcott Financial Group agreed to pay $11 million to resolve allegations that they, along with Prudential Insurance Co. of America as policy administrator, improperly calculated and applied premium tax charges on certain life insurance policies. The plaintiffs claimed the companies failed to update premium tax rates when policyholders changed their state of residence, did not adjust rates when state tax laws changed, applied higher Connecticut-based rates in states with lower rates and charged New York policyholders more than the applicable statutory rate.
Who are the class members?
Class members must meet the following criteria:
- They own or owned a universal life or variable universal life insurance policy issued by Talcott Resolution Life & Annuity Insurance Co., Talcott Resolution Life Insurance Co., Hartford Life Insurance Co. and Hartford Life and Annuity Insurance Co.
- Their policy included language stating the premium tax charge depends on the state or municipality of residence and that the tax rate will change if their address or the state tax rate changes.
- They made premium payments for their policy during qualifying time periods between 2015 and early 2025 listed in Exhibit B of the settlement agreement.
- They experienced at least one of the following:
- Address change issue: Their address of record changed after the company issued their policy, and the insurer did not properly adjust the premium tax rate to match their new state of residence.
- Tax rate issue: The company issued their policy in Arizona, Connecticut, the District of Columbia, Idaho, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Nebraska, New Hampshire, New York, Ohio, Oregon, South Carolina or Wyoming, and the insurer allegedly applied an incorrect premium tax rate by not updating rates when laws changed or applying a higher rate than allowed by the policy, including using Connecticut's rate for non-Connecticut policyholders under retaliatory tax laws.
How much are settlement payments?
Eligible class members will receive one or more of the following benefits
- Address change and rate update overcharges: Class members who experienced address change and/or rate update overcharges will receive 100% of any alleged overcharges, minus their proportional share of attorneys' fees, expenses.
- Retaliatory tax rate and New York overcharges: Class members who experienced retaliatory tax rate and/or New York overcharges will receive a pro rata share from the remaining net settlement fund. The final payment amount will be determined by the amount of overcharges paid.
No claim form required
Class members do not need to file a claim to a settlement payment.
Payout options
- Paper check mailed the address on file
Settlement fund breakdown
The $11,000,000 settlement fund will include:
- Settlement administration costs: To be determined
- Attorneys’ fees: Up to $3,666,666.67
- Incentive awards to class representatives: Up to $25,000 each
- Payments to eligible class members: Remaining settlement funds
Important dates
- Deadline to request exclusion: Aug. 26, 2026
- Final approval hearing: Sept. 24, 2026
When is the Talcott life insurance fee settlement payout date?
The settlement administrator will mail payments to eligible class members after the court grants final approval of the settlement.
Why is there a class action settlement?
The class action lawsuit alleged Talcott and Prudential improperly calculated and applied premium tax charges on Talcott and Hartford life insurance policies.
The defendants denied some of the allegations but agreed to settle to avoid the cost and uncertainty of continued litigation and a possible trial.
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.svg)