Metropolitan Life Insurance Co. violated federal benefits law when it paid life insurance proceeds through a checkbook-style account, a federal judge concluded (Owens v. Metro. Life Ins. Co., N.D. Ga., No. 2:14-cv-00074-RWS, 9/27/16).
The proposed class action accuses the insurer of violating the Employee Retirement Income Security Act by paying benefits through retained asset accounts—which operate like checkbooks that earn limited interest and can be used ...
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