General Motors retirees sue Metropolitan Life to redeem mislaid word

Article by Christian A., on June 22, 2011

Metropolitan Life Insurance Co. was sued by a group of 45 General Motors salaried retirees for cutting their life insurance benefits. In this lawsuit filed in Wayne County Circuit Court, retirees assert that their life insurance benefits have been reduced to "a meager" $10,000.

One of those listed in this suit as retirees is former GM Chairman John Smale. The retirees want to recover the original value of their policies.

The retirees are represented by Detroit-area attorney Andrew Rogers who said that each retiree's policy was valued from tens of thousands of dollars to over $1 million. Met Life wrote to each retiree, stating that the policyholder would have "continuing life insurance in effect, without cost to you, for the rest of your life."

Rogers said that getting their life insurance benefits reduced would result to financial harm since they won’t be able to get a new policy due to their advanced age.

Rogers divulged that the cuts in these benefits affect at least 300 more GM retirees and that this could be part of a class-action lawsuit. Rogers said it hasn’t been determined yet when the reduction of these benefits took effect.

Rogers said Met Life gained largely from these cuts since the insurer got full payment for the policies but would only have to pay out $10,000 for each policy. GM and Met Life have yet to comment on this matter.

Topics: gm

If you liked the article, share on:

Comments

Recommended

Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 2017
It seems that AM-RB 001 hypercar is not the only vehicle project that Aston Martin and Red Bull Racing has gone into. This time, don’t expect something as outlandish as...
by - February 24, 2017
The year 2018 marks the golden anniversary of Subaru of America. Of course, the company will celebrate 50 years of being at the helm of the brand’s crusade in North...
by - February 24, 2017
During car crashes and accidents, there are times that its occupants can’t get out easily. There are times when the only way to get out of that situation is to...
by - February 23, 2017
Could this be a special version of Ferrari’s much acclaimed LaFerrari? No matter how we look at it, the patent images for this sports car from Ferrari indicate its striking...
by - February 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries