Indianapolis, Ind. — A significant jury verdict has led to potential damages exceeding $211 million in a class action lawsuit involving CNO Financial Group, Inc. and CNO Services, LLC, centered on alleged overcharges to life insurance policyholders. The case, regarding “LifeTrend” policies issued by Conseco Life Insurance Company, a former subsidiary of CNO, was brought forth by around 2,000 policyholders.
On June 18, 2025, jurors found in favor of lead plaintiffs William “Jeff” Burnett and Dr. Joe Camp, awarding them substantial damages for breach of contract. The jury employed a damages model that favored the policyholders, with Dr. Camp receiving $205,141 and Mr. Burnett $13,911, exclusive of interest. After adjusting for prior settlement payments, total estimated damages for the class stand at approximately $83.2 million, with interest boosting that figure to an estimated $211.3 million.
The lawsuit, filed in 2012 and currently pending in the U.S. District Court for the Southern District of Indiana, was certified as a nationwide class action despite opposition from CNO. Plaintiffs claim that CNO improperly increased premiums and “cost of insurance” charges, which were not permitted under the terms of their policies. According to the claims, many policyholders, anticipating financial strain from the increased costs, chose to surrender their policies, a scenario predicted by CNO actuaries.
CNO maintains that it should not be held accountable for the alleged policy breaches, particularly those tied to Conseco Life, which previously settled for $27 million. This point is set to be further addressed in a subsequent trial scheduled for August 25, 2025.
The outcome of the initial trial has been viewed as a landmark victory for policyholders. “The jury decisively rejected CNO’s defenses, affirming that damages should be calculated using the company’s own internal valuations,” said Stephen Weisbrod, co-lead counsel in the case. Kathleen DeLaney, also co-lead counsel, expressed satisfaction, highlighting the importance of holding companies accountable for harmful actions that unjustly alter policy terms.
Weisbrod Matteis & Copley PLLC and DeLaney & DeLaney LLC represent the plaintiffs in this matter. Weisbrod Matteis & Copley is known for its work across various sectors, including insurance recovery, with offices in major cities such as Washington, D.C., Miami, and Seattle. DeLaney & DeLaney, a recognized litigation firm in Indianapolis, specializes in civil litigation, including class action suits within state and federal courts.
This case highlights ongoing issues within the life insurance domain and raises essential questions about corporate responsibility and consumer protection. As the litigation unfolds, the implications for both policyholders and insurance providers could resonate throughout the industry.
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