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New Jersey Policyholders Review John Hancock Mutual Life Settlement.(Originated from The Star-Ledger, Newark, N.J.)
Knight Ridder/Tribune Business News, August, 1997 by Schwab, David
Aug. 12--Tens of thousands of New Jersey residents who bought life insurance from the John Hancock Mutual Life Insurance Co. must decide whether to participate in a settlement the company has reached over allegations it used misleading sales practices.
Policyholders who object to the settlement must notify the federal court in Boston overseeing the litigation by Oct. 3.
In New Jersey, 157,149 residents are covered by the proposed settlement, according to Winnie Comfort, a spokeswoman for the New Jersey Department of Insurance.
The Boston-based company is notifying policyholders nationwide about the settlement. The settlement was reached with attorneys appointed by the court to represent policyholders.
The settlement,...
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