Sears Retirees Fight Life Insurance Termination as Heirs get Zip

A group of retired Sears Holdings Corp. workers have asked for the creation of a committee to protect their interests as a retiree died shortly after his life insurance was canceled.

Lawyers for the retired workers, who say the bankrupt retailer has wrongly terminated the life insurance policies for tens of thousands of former employees, say in a court filing that they believe the spouses of some Sears retirees who recently died have been deprived of the life insurance payment earned from years of work at the iconic department store. In one instance, the life insurance policy of a Sears ...