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August 7, 2006
DISB Reaches Multi-State Agreement With American-Amicable Life Insurance Companies (cont'd.)
In addition to economic relief, the companies have agreed, among other things, to:
- Stop soliciting or selling any insurance product on a military installation for five years.
- Stop selling the Horizon Life product after December 1, 2006.
- Immediately terminate any agent discovered selling company products on a military installation.
- Not accept any insurance application for Army enlisted personnel with the rank of E-1 through E-3 without proof the applicant has been counseled by a superior officer as required by Army regulations.
- Not possess, complete, submit, process or assist in the submission or processing of any DD Form 2558 (Authorization to Start, Stop or Change Allotment).
- Not establish any account or fictitious account in the name of its applicant/insured service member at a depository institution for the purpose of receiving funds for the payment of premium or use Treasury Form 1199A (Direct Deposit Sign Up).
- Not offer any gift with a value greater than $5 to any individual who has direct command authority over service members who rank between E-1 and E-4.
- Not participate in or assist with any class, seminar or other training for service members occurring on a military base, installation or reservation.
The settlement agreement can be found on DISB’s website. Consumers who have questions regarding the settlement can call the companies’ consumer service center at 1 (800) 736-7311.
