Insurance Company to Pay $70 Million to 70,000 Military Members

According to the Marine Administration Message 514/06, American Amicable Life Insurance Company of Texas and its affiliates, Pioneer American Insurance Company and Pioneer Security Life Insurance Company, allegedly committed violations of insurance protection laws, while selling their Horizon Life and Wealth Builder insurance policies.

After legal claims were settled by federal and state agencies, approximately 70,000 service members who purchased these policies from Jan. 1, 2000 - July 28, 2006, are eligible for cash refunds totaling $70 million and increased policy benefits. This includes former and current customers. Military members and dependents who purchased life insurance products from an American Amicable Company should call the companies’ customer service center at (800) 736 – 7311 and give their current mailing address.