Are you insured under a Prudential policy for long-term care coverage or any other long-term care policy? Did your rates increase beyond what was represented? You may be entitled to compensation. Fill out the form »
WHAT’S THE ISSUE?
Our firm’s investigation indicates that Prudential (and other carriers such as CNA) enticed would-be customers with empty promises of low, stable insurance premiums that would not increase unless premiums increased for everyone of the same age and coverage plan. Those insured under Prudential’s long-term care policies soon realized they had been lured into allegedly bad deals when their rates increased beyond what was represented to them.
ABOUT THE ALLEGED PRUDENTIAL POLICY FRAUD
Prudential claims that its policies do not subject consumers to disparate or discriminatory rate increases, but attorneys investigating this case believe that Prudential has increased its customers’ premiums improperly and has not done so uniformly for everyone in the same age category or premium class. It also has failed to return premiums when certain policyholders have that right. We can help you understand your rights, so call or email now. Hagens Berman believes that those insured under long-term care policies deserve peace of mind and stability, and should not suffer the uncertainty of future excessive, illegal premium increases or, worse, having to walk away from the value of your contract after you paid in large sums so you would have protection as you advance in age.
THE COST OF LONG-TERM CARE INSURANCE
The cost of long-term care insurance varies according to a variety of factors, most prominently age, health status and gender. According to the American Association for Long-Term Care Insurance, the average cost of $165,000 in long-term care insurance is $1,200 a year for a 60-year-old man. But costs can increase significantly as you age, and in recent years, insurance companies have been sharply hiking premiums. Some have allegedly done so using an improper method.
WHY HAVE MY LONG-TERM CARE INSURANCE PREMIUMS INCREASED?
Increases in long-term care premiums, including Prudential’s long-term care insurance, are a trend nationwide. According to reports, the Federal Long-Term Care Insurance Program will increase premiums in 2024 by as much as 86% for those who elect to keep their current coverage. Hagens Berman attorneys believe Prudential has taken advantage of its customers via improper rates that are out of step with its own stated policies, and, for some policyholders, it has improperly refused to refund prior premiums.
When insurance companies put forth marketing materials and policies that state that premiums will not be increased unless they are changed uniformly for everyone in the same age group or premium class, the company must not increase premiums at different times, and in different amounts, for insureds within the same age group.
Hagens Berman has pursued litigation against another provider of long-term care insurance for subjecting insureds to disparate increases in the cost of their long-term care premiums. Prudential may have committed similar wrongdoing, and Prudential long-term care policyholders may have rights under the law.
WHAT DO I DO IF MY PRUDENTIAL LONG-TERM CARE INSURANCE RATES INCREASE?
Hagens Berman understands that premium stability is of the utmost importance to long-term care insurance policyholders, many of whom are on fixed incomes and cannot afford to keep pace with dramatic and unexpected premium increases. Contact the firm to learn more about your rights against Prudential for allegedly fraudulent premium increases.
In pending litigation with another long-term care insurance provider, Hagens Berman has brought (and had the courts have sustained) claims of breach of contract, fraud and violation of state consumer protection laws on behalf of a proposed class of policyholders. Prudential customers may have the right to similar claims. Such lawsuits can bring relief to consumers not only in the form of monetary compensation, but also through forcing companies to change their illegal and exploitive practices, allowing insureds to keep valuable coverage in place at an affordable price.
HOW CAN A CLASS ACTION HELP WITH INSURANCE RATE INCREASES?
Through a class-action lawsuit, individual consumers can collectively bring claims against powerful corporations that would otherwise have the upper hand, like Prudential. A class-action lawsuit seeks to level the playing field, bringing strength to collective action to change corrupt practices and negligent responses to customers. Though these measures do not bring immediate relief, they are a time-tested method of holding companies accountable for wrongdoing, including fraudulent long-term care insurance rate increases.
TOP CONSUMER RIGHTS LAW FIRM
Hagens Berman is one of the most successful consumer rights law firms in the U.S. and has bested some of the nation's largest corporations on behalf of those most vulnerable to corporate greed and negligence. The firm has secured more than $320 billion in settlements against insurance companies, Big Tobacco, the nation's largest pharmaceutical conglomerates and others, and we are currently pursuing similar litigation against other long-term care insurance providers. Your claims will be handled by attorneys experienced in consumer rights law and insurance plan litigation.
NO COST TO YOU
There is no cost or fee whatsoever involved in joining this action. In the event Hagens Berman or any other firm obtains a settlement that provides benefits to class members, the court will decide a reasonable fee to be awarded to the legal team for the class. In no case will any class member ever be asked to pay any out-of-pocket sum.