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news/2009/11/ap_life_insurance_111109
news/2009/11/ap_life_insurance_111109
Life insurance refunds on tap for some soldiers
The Associated Press
Posted : Wednesday Nov 11, 2009 14:32:58 EST
Posted : Wednesday Nov 11, 2009 14:32:58 EST
ATLANTA — Georgia's insurance commissioner said American Fidelity Life Insurance has agreed to refund its life insurance policy holders $275 each.
Soldiers who purchased policies written from Sept. 1, 2004, to October 2009 are eligible for the cash. Commissioner John Oxendine said he estimates that 962 soldiers will receive the payout.
The refund comes after Oxendine's office found that insurance products offered by American Fidelity contained provisions that violated Georgia law and that the company's annual statements weren't filed properly.
Based in Pensacola, Fla., American Fidelity Life Insurance Company is an underwriter of the U.S. military's Service members Group Life Insurance program.
Oxendine may be the Republican nominee for governor in 2010.
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