Frequently Asked Questions

  1. Why did I get this Notice?
  2. What are these lawsuits about?
  3. What is a "Cost of Insurance Rate Scale"?
  4. What is a class action?
  5. Why is there a Settlement?
  6. How do I know if I am part of the Settlement Class?
  7. What if I am not sure whether I am included in the Settlement Class?
  8. Are there exceptions to being included in the Settlement Class?
  9. What does the Settlement provide?
  10. How do I participate in the Settlement? How do I make a claim?
  11. Will I receive a payment? How much will my payment be?
  12. When will I receive my payment?
  13. What am I giving up to stay in the Settlement Class?
  14. How do I get out of the Settlement and receive no benefits?
  15. If I did not exclude myself, can I sue the Defendant for the same thing later?
  16. If I excluded myself, can I still get a payment?
  17. Do I have a lawyer in the case?
  18. How will the lawyers be paid?
  19. How did I tell the Court if I do not like the Settlement?
  20. What is the difference between objecting and asking to be excluded?
  21. When and where did the Court decide whether to approve the Settlement?
  22. Did I have to attend the hearing?
  23. CouId I have spoken at the hearing?
  24. What happens if I did nothing at all?
  25. Are there more details about the Settlement?
  26. How do I get more information?
  27. How do I change my address if the Notice was not sent to my current address?
  28. Where do I find my Claim ID and PIN Code?
  29. What is a current update on the settlement?
  1. Why did I get this Notice?

    You received the Notice because you were identified by Banner and William Penn as a current or former owner of an insurance policy that is included in the Settlement of the Consolidated Lawsuits against Banner and William Penn. The Court directed the parties to send you the Notice so that you would know about the proposed Settlement and the rights and options you have under the proposed Settlement before the Court decided whether to approve it. Because the Court approved the Settlement and the Settlement became final on June 14, 2022, the Settlement benefits described in the Notice will be provided to the members of the Settlement Class who did not exclude themselves from the Settlement.

    The Consolidated Lawsuits were pending before the United States District Court for the District of Maryland, in Baltimore, Maryland, and are now final. The Consolidated Lawsuits are: Richard Dickman and Kent Alderson v. Banner Life Insurance Company, No. 1:16-cv-00192-RDB and Lesley S. Rich, trustee for the Richard S. Wallberg Insurance Trust v. William Penn Life Insurance Company of New York, No. 1:17-cv-02026 (consolidated as Dickman v. Banner Life Insurance Co., No. 1:16-cv-00192-RDB). The people who brought the Consolidated Lawsuits are referred to in the Notice as the "Named Plaintiffs."

    The Notice describes the claims asserted in the Consolidated Lawsuits, the Settlement, your legal rights, the benefits that are available, who is eligible for them, and when they will be made available. The Notice is only a summary. If you wish to review the full terms and conditions of the Settlement, you can obtain a copy of the Settlement Agreement by contacting the Settlement Administrator or going to the Case Documents tab on this website. Also see Question 9.

    

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  2. What are these lawsuits about?

    The Named Plaintiffs contend that Banner unjustifiably increased the cost of insurance ("COI") rate scales on certain universal life products beginning in July 2015 and William Penn on other universal life products beginning in February 2016, and that these increases were unlawful and in violation of the terms of the Policies (the "COI Rate Increases"). The Named Plaintiffs also contend that Banner and William Penn misrepresented facts to policyholders about the Policies’ COI charges and account value, the reasons for the COI Rate Increases, and Banner and William Penn’s financial condition. Banner and William Penn deny all of these contentions and maintain that they did nothing wrong in adopting the challenged COI Rate Increases and did not make any misrepresentations.

    

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  3. What is a "Cost of Insurance Rate Scale"?

    The Banner and William Penn Policies are a type of universal life insurance. Universal life insurance policies typically combine a death benefit component (the amount paid upon the death of the insured) with a savings component, which Banner and William Penn call an "account value." Policyholders pay periodic premiums to Banner and William Penn that help build their policies’ account value, which are guaranteed to earn interest at no less than the minimum rate set in the Policies. The Policies give policyholders flexibility in the amount of premiums to be paid, so long as the account value is sufficient to cover the Cost of Insurance and other items charged monthly by Banner and William Penn, which are called the "Monthly Deduction." Banner and William Penn calculate the Monthly Deduction by adding the Cost of Insurance, the monthly cost of any additional riders or benefits, and a policy fee. The Cost of Insurance is determined by multiplying (a) the difference between a factor of the policy’s death benefit and the account value by (b) a factor Banner and William Penn call the "Cost of Insurance Rate." The Cost of Insurance Rate may increase each year as an insured ages, and the company may increase the Cost of Insurance Rate scale to which the Cost of Insurance Rate is tied.

    In the Consolidated Lawsuits, the Plaintiffs challenged the COI Rate Increases that Banner and William Penn announced in 2015 and implemented in 2015 and 2016, which increased the Cost of Insurance Rate scales that were then in effect.

    

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  4. What is a class action?

    In the Consolidated Lawsuits, the Plaintiffs challenged the COI Rate Increases that Banner and William Penn announced in 2015 and implemented in 2015 and 2016, which increased the Cost of Insurance Rate scales that were then in effect.

    In the Consolidated Lawsuits, the Named Plaintiffs, on the one hand, and Banner and William Penn, on the other hand, reached the proposed Settlement after participating in a mediation before an experienced and highly qualified mediator. As part of the proposed Settlement, the parties requested the Court to certify a Settlement Class including all Policies that were affected by the COI Rate Increases, whether in-force ("In-Force Policy") or that lapsed, matured or were surrendered ("Terminated Policy"), and all In-Force Policies that were considered for, but not affected by the COI Rate Increases. The Court has certified the Settlement Class as part of this Settlement. The Court has appointed the Named Plaintiffs to serve as the Class Representatives for the Settlement Class and appointed Class Counsel to represent the Settlement Class in connection with the settlement approval process.

    

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  5. Why is there a Settlement?

    The Court has not decided the claims in favor of either the Named Plaintiffs or Banner and William Penn. Instead, both sides have compromised and agreed to a settlement. The Settlement Agreement, has been approved and therefore resolves the claims alleged in the Consolidated Lawsuits. Class Counsel have advised the Court that the Settlement is the result of extensive, arm’s-length negotiations between Class Counsel and Banner and William Penn, with the assistance of an experienced mediator, and is based upon a thorough examination of the legal and factual issues raised in the Consolidated Lawsuits, the information obtained over the course of the litigation, the inevitable costs and delays associated with continued litigation, and the risk that Settlement Class members might receive nothing if the litigation were to proceed. By agreeing to settle, both sides avoid the cost and risk of a trial and appeal, and the Settlement Class members will receive compensation much sooner than they otherwise would were the Named Plaintiffs to prevail.

    The Class Representatives and Class Counsel believe the Settlement is in the best interests of the Settlement Class. The Settlement does not mean that Banner and William Penn have conceded that they did anything wrong. Since the Settlement was approved by the Court, members of the Settlement Class will be entitled to receive the Settlement benefits described below. In return, the Consolidated Lawsuits will be dismissed, and Settlement Class members will not be able to sue Banner and William Penn based upon the COI Rate Increases that were at issue in the Consolidated Lawsuits, which will be dismissed, and any facts, circumstances or transactions that were or could have been raised in the Consolidated Lawsuits.

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  6. How do I know if I am part of the Settlement Class?

    Subject to the exceptions listed in response to Question 8, the Settlement Class certified by the Court in the Consolidated Lawsuits consists of all persons or entities who own a Banner or William Penn In-Force Policy subject to the COI Rate Increases or owned a Banner or William Penn Terminated Policy subject to the COI Rate Increases implemented by Banner and William Penn during 2015 and 2016, and all persons or entities who own a Banner or William Penn policy that was considered for a COI Rate Increase in 2015. As used hereinafter, the term "Settlement Class Policies" means all Policies among the Settlement Class who did not exclude themselves from the Settlement.

    Anyone who would otherwise be a member of the Settlement Class, but who decided to "opt out" of the Class (see Question 14) is not included in the Settlement Class and will not receive the benefits of the Settlement and will not be bound by Release.

    

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  7. What if I am not sure whether I am included in the Settlement Class?

    If you are not sure whether you are included in the Settlement Class, you can ask for free help. You can contact the Settlement Administrator by mail, toll-free telephone, or email. This contact information appears below. See Question 9.

    If you are not sure whether you purchased one or more of the Policies, you may be able to make this determination yourself by reviewing various documents that Banner and William Penn previously sent to you concerning your policy, such as correspondence, annual policy statements, and illustrations.

    

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  8. Are there exceptions to being included in the Settlement Class?

    Yes. There are five categories of exceptions to being included in the Settlement Class. If you fall within any of these categories (or if you are a subsequent owner, co-owner or beneficiary of a Settlement Class Policy owned by such excluded person), you are not a member of the Settlement Class:

    1. The Honorable Richard D. Bennett, United States District Court Judge of the District of Maryland (or other Circuit, District, or Magistrate Judge presiding over the Consolidated Actions through which this matter is presented for settlement) and court personnel employed in Judge Bennett’s (or other such Judge’s) chambers or courtroom;
    2. Banner, William Penn, and their parents, affiliates, subsidiaries, successors, predecessors, and any entity in which Banner or William Penn has a controlling interest and their current or former officers and directors (except to the extent Banner, William Penn, or such other entity is the owner of a Policy held for the benefit of an individual who is not otherwise excluded from membership in the Settlement Class);
    3. Any officer or director of Banner or William Penn reported in their Corporate Reports during the Class Period, or entity in which Banner or William Penn had a controlling interest at any relevant time, any member of those persons’ immediate families and legal affiliates, heirs, controlling persons, agents, successors and predecessors in interest or assigns of any such excluded person or entity;
    4. Policyholders who properly execute and timely file a Request for Exclusion from the Settlement Class; and
    5. The legal representatives, successors, or assigns of any of the foregoing excluded Banner or William Penn policyholders (but only then in their capacity as legal representative, successor, or assignee).

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  9. What does the Settlement provide?

    Banner and William Penn will pay $22.5 million dollars into a Common Settlement Fund to be allocated among members of the Settlement Class who were affected by the COI Rate Increases.

    Banner and William Penn have also agreed that they will not impose any future increases to the COI Rate Scale currently in effect on any Settlement Class Policy within five (5) years of the date of the Settlement Agreement, unless ordered to do so by a state regulatory body.

    Under the proposed Settlement, Banner and William Penn have also agreed not to:

    Void, rescind, cancel, have declared void, or otherwise deny coverage or death claims submitted under the Settlement Class Policies based on:

         o A lack of valid insurable interest under any applicable law or equitable principles; or

         o Any misrepresentations made on the original application while applying for the policies.


    Under the proposed Settlement, Banner and William Penn have also agreed to add forty-five (45) days to the length of the Policies’ Grace Period for all In-Force Policies with an Advantra Opterm20 (Banner), Advantra Opterm20UL (Banner), Advantra ADV02/05 (Banner), Life Umbrella 120 (Banner), and Life Umbrella 120 (William Penn) policy.

    Finally, subject to applicable regulations, Banner and William Penn has agreed to provide to Settlement Class Members, upon request and at no cost to the Settlement Class Member, an illustration depicting the impact of the Settlement Relief on the anticipated future performance of their respective In-Force Class Policies following the Court’s approval of the Settlement. Settlement Class Members may make such a request by contacting the Settlement Administrator.

    The non-monetary settlement relief has been valued by actuaries as conferring a $18,249,525 benefit on Class Members.  This results in a total Settlement value of $40,749,525.

    More details regarding each of the foregoing Settlement benefits are set forth in the Settlement Agreement, which is available under the Case Documents tab on this website or by writing to the Settlement Administrator:

    Dickman v. Banner Life Insurance Co. Settlement Administrator

    P.O. Box 6001
    Larkspur, CA 94977-6001

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  10. How do I participate in the Settlement? How do I make a claim?

    Members of the Settlement Class do not have to do anything to receive the Settlement benefits to which they are entitled. Banner and William Penn will calculate the amount that is payable to Settlement Class Members (see Question 9). Banner and William Penn will then either (a) credit the account value of Settlement Class Policies that are In-Force, or (b) cause the Settlement Administrator to send a check in the case of a Terminated Policy. No claim forms need to be filed. If you opted out of the Settlement, you will not benefit from either the monetary or the additional benefits described in the answer to Question 9.

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  11. Will I receive a payment? How much will my payment be?

    After the payment of Settlement Administrator fees and Court-approved attorneys’ fees and litigation expenses, the remaining Common Settlement Fund will be distributed to Settlement Class Members on a pro rata (or proportional) basis in a manner that generally corresponds to the COI deducted from the account value of the Policy as a result of the COI Rate Increases. Settlement Class Members will receive an amount based generally on the difference between (a) the COI withdrawn from the account value of a Settlement Class Policy after the COI Rate Increases went into effect and (b) the COI that would have been withdrawn under the prior COI Rate Scale that would have applied but for the COI Rate Increases. Payments to Settlement Class Members will be distributed as follows:

    Settlement Class Members with an In-Force Policy will be paid their share of the Common Settlement Fund by deposit made by Banner or William Penn directly into the account value of each Policy.

    Settlement Class Members with a Terminated Policy will be paid their share of the Common Settlement Fund by check.

    The Settlement Agreement provides that no Settlement Class Member whose policy was subject to the COI Rate Increases will receive a payment of less than $100.

    The actual amount available for each eligible Settlement Class Member will not be determined until after the Settlement Fairness Hearing and may not be determined until after the Settlement is final (that is, until there is no possibility of the Court’s approval of the Settlement being reversed on appeal).

    At the Final Approval Hearing held on May 20, 2020, the Settlement was approved by the Court. A copy of the Final Approval Order is available on the Case Documents page of this website.  The Court’s Order was appealed by a third party and was on appeal in the Fourth Circuit Court of Appeals.  The Settlement became final on June 14, 2022.  Settlement benefits will be available because the Final Approval Order has been affirmed by the appellate court. 

    You should consult your own tax advisors regarding the tax consequences of the proposed Settlement, including any payments you may receive and any tax reporting obligations you may have as a result. You may also want to consult with your own insurance agent, and/or another insurance consultant regarding how this Settlement affects your own Policy under your specific circumstances.

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  12. When will I receive my payment?

    Settlement Class Members who are entitled to payments will receive their payments after the Court grants final approval to the Settlement and after appeals, if any, are resolved and the Settlement is approved by the appellate courts (see Question 24).  Resolving appeals can take considerable time.  There was an appeal filed, it was resolved, and the Settlement became final on June 14, 2022.  Payments are currently being calculated.  

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  13. What am I giving up to stay in the Settlement Class?

    Unless you exclude yourself, all of the decisions by the Court will bind you and you will give up your right to sue Banner and William Penn and certain other parties for the conduct alleged in the Consolidated Lawsuits, as described in Section IX of the Settlement Agreement (“the Release”).

    The Release extends to all claims that were asserted, or that could have been asserted, in the Consolidated Lawsuits relating to the COI Rate Increases, the alleged misrepresentations made by Banner and William Penn to policyholders concerning the Policies’ COI charges and account value, the reasons for the COI Rate Increases, and Banner and William Penn’s financial condition, including, without limitation, all claims, damages, and administrative relief, known and unknown, as well as any further claim to recovery or relief that might become available as a result of actions by any state or federal government agencies.

    The Release does not cover challenges to any future COI Rate Scale increases imposed by Banner and William Penn, except with respect to the protections provided to Settlement Class Members under the Settlement Agreement (see Question 9).  And the Release does not bar claims arising from any failure by Banner and William Penn to pay future death benefits owed under a Settlement Class Policy.

    Members of the Settlement Class expressly waive any and all rights that they may have under any law that would limit the release to claims that are actually known or suspected to exist at the time of the Settlement. Therefore, the provisions of Section 1542 of the California Civil Code, which provides as follows, will not apply:  “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”

    The Settlement Agreement, which defines the Release, is available under the Case Documents tab on this website and describes the claims that you give up if you remain in the Settlement.  If you have any questions you can talk to the law firms listed in Question 17 for free, or you can of course talk to your own lawyer.

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  14. How do I get out of the Settlement and receive no benefits?

    To exclude yourself, you needed to have mailed a letter (your “Exclusion Request”) no later than December 22, 2019 to Class Counsel that says “I want to be excluded from the Settlement Class in Dickman v. Banner Life Ins. Co., No. 1:16-cv-00192-RDB.”  You are required to include your name (or the name of the company or entity that owns the Banner or William Penn policy), the account or policy number of each of your Banner and William Penn Policies that you want to be excluded, your address and signature.  If there are multiple policyholders with respect to a single Policy (such as spouses), all must sign unless the signatory holds a valid power of attorney to act on behalf of all owners of the Policy.  If you own multiple Policies, you must identify each policy number for each Policy to be excluded from the class.

    TO BE EFFECTIVE, YOUR EXCLUSION REQUEST MUST BE MAILED TO THE FOLLOWING ADDRESS, POSTMARKED NO LATER THAN DECEMBER 22, 2019:

    W. Daniel “Dee” Miles, Esq
    Beasley, Allen, Crow Methvin, Portis & Miles, P.C.
    P.O. Box 4899
    Montgomery, AL 36103

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  15. If I did not exclude myself, can I sue the Defendant for the same thing later?

    No.  Unless you excluded yourself from the Settlement Class, you gave up the right to sue Banner and William Penn for the claims described in the Release (see Question 13).

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  16. If I excluded myself, can I still get a payment?

    No.  You will not receive any of the Settlement benefits if you excluded yourself from the Settlement Class.

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  17. Do I have a lawyer in the case?

    Yes. The Court preliminarily appointed two lawyers and their law firms to represent the Settlement Class with respect to this lawsuit:


    W. Daniel "Dee" Miles, Esq.
    BEASLEY, ALLEN, CROW, METHVIN, PORTIS & MILES, P.C.
    272 COMMERCE STREET
    P.O. Box 4899 (36103)
    Montgomery, AL 36104
    Telephone: 334-269-2343
    Facsimile: 334-954-7555
    dee.miles@beasleyallen.com

    George W. Walker, III, Esq.
    2138 Moores Mill Road, Suite A
    Auburn, AL 36830
    Telephone: 334-209-6371
    Facsimile: 334-209-6373

    You will not be charged for the services of these lawyers. If you want to be represented by your own lawyer with regard to this case, you may hire one at your own expense.

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  18. How will the lawyers be paid?

    Class Counsel undertook this litigation knowing that they would be paid attorneys’ fees and litigation expenses only in the event of a successful recovery and only to the extent approved by the Court. The Court  therefore determined how much Class Counsel will be paid from the Common Settlement Fund for their fees and expenses. You are not individually responsible for payment of any attorneys’ fees and expenses.

    Class Counsel sought an award for Plaintiffs’ attorneys’ fees of up to $10 million of the value of the Common Settlement Fund (after any reduction for the amount of Settlement benefits that would have been paid to policyholders who excluded their Policies from the Settlement).  This fee award sought totals less than 25% of the total value of the Settlement. Plaintiffs’ counsel also sought reimbursement of the litigation expenses they have advanced on behalf of the Settlement Class over the course of the litigation not to exceed $1.5 million to be paid out of the Common Settlement Fund.

    Class Counsel also asked the Court to approve payment to the Named Plaintiffs for their services on behalf of the Settlement Class: up to $15,000 for the two plaintiffs who brought the Richard Dickman and Kent Alderson v. Banner Life Insurance Company, No. 1:16-cv-00192-RDB case and $7,500 for the one plaintiff who brought the Lesley S. Rich, trustee for the Richard S. Wallberg Insurance Trust v. William Penn Life Insurance Company of New York, No. 1:17-cv-02026 case.  The amount to be awarded was determined by the Court.

    Class Counsel filed with the Court a motion seeking approval of their application for an award of attorneys’ fees, litigation expenses and service awards to the Plaintiffs on or before January 22, 2020.

    If you did not exclude yourself from the Settlement Class, you had the right to file a written objection to Plaintiffs’ Counsel’s application for an award of attorneys’ fees, litigation expenses and service awards to the Plaintiffs postmarked on or before December 22, 2019. See Question 19, below. Class Counsel had the right to file a response addressing any issues raised by you in your written objection.

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  19. How did I tell the Court if I do not like the Settlement?

    You had an opportunity to tell the Court that you disagree with the Settlement or some part of it.  The deadline for filing an objection was December 22, 2019.  

    If you are a Settlement Class Member, and you chose not to exclude yourself from the Settlement Class, you could have objected to any term(s) of the Settlement, including Class Counsels’ request for an award of attorneys’ fees, litigation expenses and service awards to the Named Plaintiffs. Named Plaintiffs and Banner and William Penn and their counsel had a right to respond to your objections.  The Court would have then considered your views in connection with the Fairness Hearing described below.

    To object, you must timely file with the Court a written objection to the proposed Settlement. Your written objection must be signed and dated, and must include the following information:

    1. A statement that your objection applies to Dickman v. Banner Life Insurance Company, No. 1:16-cv-00192-RDB;
    2. Your name, address, and telephone number;
    3. The Banner or William Penn Policy number (or numbers) in which you claim an interest;
    4. Why you object (the factual and legal reasons for your objection);
    5. The number of times you have objected to a class action within the past five years (including the caption of each case); and
    6. If you are represented by an attorney concerning your objection, your written objection must also include your attorney’s name, address, and telephone number.

    If you want to present evidence at the Fairness Hearing, your written objection must also identify any witness or witnesses you plan to present and you must enclose copies of any records or documents you plan to present.

    You must mail your written objection to (a) the Court, (b) Class Counsel and (c) Banner and William Penn’s Counsel.  TO BE CONSIDERED, YOUR OBJECTION MUST BE MAILED TO THE FOLLOWING ADDRESSES, POSTMARKED NO LATER THAN DECEMBER 22, 2019:

    Clerk of the Court
    U.S. District Court
    District of Maryland
    101 West Lombard Street
    Baltimore, MD 21201

    W. Daniel "Dee" Miles, Esq.
    BEASLEY, ALLEN, CROW, METHVIN, PORTIS & MILES, P.C.
    272 Commerce Street 
    P.O. Box 4899 (36103)
    Montgomery, AL 36104

    George W. Walker, III. Esq. 2138
    Moores Mill Road, Suite A
    Auburn, AL 36830

    Timothy O'Driscoll
    Christopher F. Petillo 
    Drinker Biddle & Reath LLP
    One Logan Square, Ste 2000 
    Philadelphia, PA 19103-6996

    If you did not timely and properly file and mail your objection in accordance with all of the above requirements, you will not be treated as having filed a valid objection to the Settlement.

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  20. What is the difference between objecting and asking to be excluded?

    An objection simply tells the Court that you do not like something about the Settlement. You can object to the Settlement OR you can exclude yourself from the Settlement—you cannot do both.  If you object and the Settlement is approved, you will still receive any benefits of the Settlement to which you are entitled, and any judgment entered in the Consolidated Lawsuits will still be binding on you.

    A request to exclude yourself from the Settlement Class tells the Court that you do not want to be part of the Settlement Class and you do not want to participate in the Settlement.  If you exclude yourself, you have no basis to object because the Consolidated Lawsuits no longer affect you in any way.

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  21. When and where did the Court decide whether to approve the Settlement?

    The Fairness Hearing was held on May 20, 2020 at 11 a.m. Eastern time.  It was conducted with a court reporter via telephonic conference. Class members were welcome to dial in and listen to the hearing, but participation was limited to those who complied with the requirements for the “Notice to Appear” as set forth in the Class Action Notice.  Listening to the call was purely voluntary and there was no requirement to do so.

    At the Fairness Hearing, the Court considered whether the Settlement is fair, reasonable, and adequate. The Court also considered any objections at the hearing.    The Court also considered how much to pay Class Counsel in attorneys’ fees and litigation expenses, and whether to approve the service award to the Named Plaintiffs.

    At the hearing, the Court ruled on all issues before it and approved the Settlement.  A copy of the Final Approval Order is available here as well as on the Case Documents page of this website.  There was an appeal and the Settlement did not become final until June 14, 2022.

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  22. Did I have to attend the hearing?

    No. Class Counsel and Counsel for Banner and William Penn answered any questions the Court may have had.  But you were welcome to attend the Fairness Hearing at your own expense. You could have also paid your own lawyer to attend, but it was not necessary.  If you submitted a written objection, you did not have to attend the Fairness Hearing. As long as you filed your written objection with the Court on time and in the manner described by the Notice, the Court considered it.

    The Final Fairness Hearing in this case was held Wednesday, May 20, 2020 at 11 a.m. Eastern time.  It was conducted with a court reporter via telephonic conference.  Class members were welcome to dial in and listen to the hearing, but participation was limited to those who complied with the requirements for the “Notice to Appear” as set forth in the Class Action Notice.   Listening to the call was purely voluntary and there was no requirement to do so.

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  23. CouId I have spoken at the hearing?

    You could have asked the Court for permission to speak at the Fairness Hearing by following the instructions in this section. You were not, however, required to attend or speak at the Fairness Hearing.  The Court determined who was permitted to speak at the Fairness Hearing and for how long.

    If you did not excluded yourself from the Settlement Class and you filed an objection on time and in the manner described in this Notice, you could have asked the Court for permission to speak in support of that objection.  You were not permitted to speak in support of an objection to the Settlement if you did not properly submit a written objection. You were also not permitted to raise any new or different objection at the Fairness Hearing that was not raised in your previously submitted written objection.

    If you wished to speak at the Fairness Hearing, you must have sent a letter saying that it is your “Notice of Intention to Appear.”  Your letter must have been signed and dated, and must have included the following information:

    1. A statement that your Notice of Intention to Appear applies to Dickman v. Banner Life Insurance Company, No. 1:16-cv-00192-RDB;
    2. Your name, address, and telephone number;
    3. The Policy number (or numbers) in which you claim an interest;
    4. Your attorney’s name, address, and telephone number (if applicable).

    If you wanted to present evidence at the Fairness Hearing, your letter must have also identified any witness or witnesses you planned to present, and you must have enclosed copies of any records or documents you planned to present.

    TO BE CONSIDERED, YOUR “NOTICE OF INTENTION TO APPEAR” MUST BE MAILED TO THE FOLLOWING ADDRESS, POSTMARKED NO LATER THAN JANUARY 22, 2020:

    Clerk of the Court
    U.S. District Court
    District of Maryland
    101 West Lombard Street
    Baltimore, MD 21201

    If an attorney intended to appear on your behalf, in addition to the foregoing “Notice of Intention to Appear,” your attorney must have filed and served on Class Counsel and Banner and William Penn’s Counsel an entry of appearance in the action, by the same deadline.

    Neither you nor your attorney may have spoken at the Fairness Hearing if you and/or your attorney did not follow these procedures, or if you have excluded yourself from the class.

    The Final Fairness Hearing in this case was held Wednesday, May 20, 2020 at 11 a.m. Eastern time.  It was conducted with a court reporter via telephonic conference.  Class members were welcome to dial in and listen to the hearing, but participation was limited to those who complied with the requirements for the “Notice to Appear” as set forth in the Class Action Notice.   Listening to the call was purely voluntary and there was no requirement to do so.

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  24. What happens if I did nothing at all?

    If you did nothing, you will remain included in the Settlement Class and be eligible to receive all Settlement benefits to which you are entitled once the Settlement is approved and becomes final.

    As described in response to Question 15, when the Settlement becomes final, you will also give up the right to start, continue with, maintain or participate in a lawsuit, arbitration, regulatory proceeding, remediation proceeding or other legal proceeding against Banner and William Penn and related parties relating to the facts, transactions, circumstances, and claims that were or could have been asserted in the Consolidated Lawsuits.  See Question 13.

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  25. Are there more details about the Settlement?

    Yes. The Notice summarizes the proposed Settlement. More details are contained in a formal agreement between the Named Plaintiffs and Banner and William Penn called the Settlement Agreement.  The full Settlement Agreement is on file with the Clerk of the Court.  You can also view and download a copy under the Case Documents tab, or you can request a copy from the Settlement Administrator, at no cost to you.  You may request a copy by mail, toll-free telephone, or e-mail.

    Here is the Settlement Administrator's contact information for any inquiry concerning the Settlement, or for requesting a copy of or viewing and downloading the Settlement Agreement.

    SETTLEMENT ADMINISTRATOR CONTACT INFORMATION

    By Mail

    Dickman v. Banner Life Insurance Co

    Settlement Administrator

    P.O. Box 6001

    Larkspur, CA 94977-6001

    By Toll-Free Telephone 1-866-537-7241 (Please have your Claim ID available for verification when you call. It is on the front page of the Notice you received.)
    By E-mail admin@BannerPennSettlement.com


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  26. How do I get more information?

    You can write, call toll-free, or e-mail the Settlement Administrator about any questions you may have, using the contact information above.  The Settlement Administrator can answer many questions and can provide certain key documents from the Court’s file in this lawsuit, upon request and, at no cost to you, including the Settlement Agreement and the Court’s order preliminarily approving the Settlement.  The Settlement Administrator’s hours of operation are 8:00 a.m. to 8:00 p.m. Eastern Time, Monday through Friday, excluding holidays. After hours, you can leave a message and you will receive a prompt response. Please have your Claim ID available for verification when you call. It is on the front page of the notice you received.

    If the Settlement Administrator cannot answer your inquiry to your satisfaction, your inquiry will be forwarded to Class Counsel, who will personally respond to these inquiries in the order they are received, at no cost to you.

    You can also view the contents of the entire public file for the Consolidated Lawsuits and obtain copies (at your own expense) of any documents in the entire public file for those cases, through the Clerk of Court's office at: U.S. DistrictCourt, District of Maryland, 101 West Lombard Street, Baltimore, MD  21201.  The hours of operation are 9:00 a.m. to 4:00 p.m., Monday through Friday.

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  27. How do I change my address if the Notice was not sent to my current address?

    If the Notice was not sent to your current address, you may update your address by going to the Change of Address menu page of this website and inputting your current information.  Please have your Claim ID and PIN Code available as you will be asked for them in order to file your address update securely.  They may be found on the top of the first page of your Notice.  

    You may also mail in the Change of Address form that was included in  your Notice packet.  The form is also available to print out on the Case Documents menu page of this website.  

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  28. Where do I find my Claim ID and PIN Code?

    Your Claim ID and PIN Code can be found on the top of the first page of your Notice.  You will need them if you want to file an address update online (go to the Change of Address menu page) or if you want to speak to the Settlement Administrator toll-free at 1-866-537-7241.  Your Claim ID and PIN Code will be used to validate your status as a Class Member.

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  29. What is a current update on the settlement?

    At the Final Approval Hearing held on May 20, 2020, the Settlement was approved by the Court.  The Court’s Order was appealed by a third party and was on appeal in the Fourth Circuit Court of Appeals until recently.  Oral argument was scheduled for December 7, 2021. The Settlement became final on June 14, 2022.   Banner and WIlliam Penn are currently calculating the amount that is payable to Settlement Class Members.  (See FAQ 9, 10 and 11 for more information.) Settlement Class Members with an In-Force Policy will be paid their share of the Common Settlement Fund by deposit made by Banner or William Penn directly into the account value of each Policy.  Settlement Class Members with a Terminated Policy will be paid their share of the Common Settlement Fund by check.     

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