Sun Life, Union Security Settle Over Child Life Insurance Plans

Sun Life Assurance Co. of Canada and Union Security Insurance Co. negotiated a class settlement in a lawsuit saying they improperly refused to pay benefits under dependent child life insurance policies.

The deal, which is expected to benefit at least 77 people, allows insurance plan participants who lost a child while paying premiums for child life insurance coverage to receive full or partial payment of the benefits provided under their plan. It also provides ongoing life insurance coverage for certain participants and an opportunity to convert coverage to an individual policy, according to a settlement motion filed Wednesday in the ...