Wis. Northwestern Mutual Agrees to Settle Lawsuit up to $92 Million

November 17, 2008

  • November 17, 2008 at 1:51 am
    Couldn't resist says:
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    Company spokeswoman Jean Towell says they decided to settle to avoid “the uncertainty and expense of litigation.”

    Yep, from the Quiet Company to the “keep it quiet company.” Diogenes with his lamp looks in vain in our industry as well as in others….

  • November 17, 2008 at 1:52 am
    Couldn't Resist says:
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    Oops-can’t spell, but maybe this will keep it even less quiet.

  • November 17, 2008 at 2:45 am
    One says:
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    I for one think this is a good company they always have had a soild track record of paying claims.

  • November 18, 2008 at 7:40 am
    Two says:
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    Think of it this way: There is one plaintiffs’ law firm and 1.2 million plaintiffs. The lawyer get at least a third of 92 million, and all the plaintiffs get to split the rest 1.2 million ways. Now ask why this lawsuit was filed. Duh…..

  • November 24, 2008 at 11:38 am
    synthia krouse says:
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    I am insured with NWML. I have info via mail concerning the suit. The number to call does not give adiquate info with no human to speak with and the web site http://www.nmclass.com doesn’t do much either. My question is, I am still presently insured and have been paying via direct deposit to them for years, all together insured for over thirteen years I believe… just curious, roughly, what will this settlement pay to individuals such as my self?
    Thank you ,
    sincerely,
    Synthia Krouse

  • November 26, 2008 at 12:14 pm
    Kory Geisser says:
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    I am with Synthia Krouse. We have had our policy for quite some time…but mine is the only term policy. I called my agent – who could tell me nothing. I read that we may see some payout in the spring…how can we find out more once the final hearing takes place December 24?

  • December 11, 2008 at 8:53 am
    Dee Dee says:
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    Good one. Do the math- If there are 1.2 current and 1.6 past customers, that is 3 million customers. Take a 92 million dollar lawsuit and divide it by 3 for lawyers fees. 33 million left divided by 3 million people. Why would you say that is good only for the lawyers?

  • December 15, 2008 at 4:36 am
    Representative of NML says:
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    I think it’s important for people to know that we lead the industry in paying dividends and have for years. 5 billion in 2008, 4.6 Billion in 2009. The next highest company is paying 1.6 billion. I’d love to have a talk with “Couldn’t Resist.” The lawsuit is frivolous. Any intelligent person knows dividends are not guaranteed but that we have paid them for 130+ years. The guy who filed probably twisted a representative’s words. No other company in the industry pays dividends on term insurance to my knowledge. It’s greed.

  • December 16, 2008 at 1:01 am
    synthia Krouse says:
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    I still haven’t recieved an answer that answers. Are we, as persons who have payed in, via direct deposit to NWML getting anything from this lawsuit? And if so what? I understood that there is a $92,000,000 suit being settled but what does that really say for me? I have willingly allowed them to withdraw from my account for years without complaint or question. They have even tracked me down to make sure that they’ve gotten the signatures needed for updates to continue to withdraw. Again, I comply without question believing that this company had my best interest, at least the interest of my beneficery in mind. If they have been deceptive not owning up to what they’re policy claims… yes, I want at the least what I have paid in for well over the past decade. As a policy holder trusting them… I deserve that much.

    Synthia Krouse

  • December 20, 2008 at 3:34 am
    Elmer Wilson says:
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    SHOW ME THE MONEY!!!!!!!!!!!



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