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PHL Variable Life COI Settlement

Pro-rata distribution calculated by dividing each class member's COI overcharges by total overcharges damages incurred by all final settlement class members

Last verified September 18, 2026Source: jndHow ClaimWatch verifies cases

Closed to new claims. Browse open settlements →

Where this case stands

Payments distributed December 18, 2025

The court approved the settlement and the administrator has reported sending payments to class members who filed valid claims.

Pending in the S.D.N.Y. (No. 18-cv-03444-MKV).

  1. April 19, 2018
    Case filed
  2. October 23, 2023
    Opt-out and objection deadline

    Last day to exclude yourself from the settlement or object to its terms.

  3. December 19, 2023
    Final approval hearing

    The court hears any objections and decides whether to approve the settlement.

  4. December 20, 2023
    Preliminary approval

    The court allowed notice of the proposed settlement to go out to the class.

  5. January 18, 2024
    Final approval granted
  6. December 18, 2025
    Payments distributed

What happened

PHL Variable Insurance Company increased cost of insurance (COI) rates on certain Phoenix Accumulator Universal Life (PAUL) and Phoenix Estate Legacy (PEL) policies starting in August 2017. The lawsuit alleges these COI rate increases violated the terms of policyholders' contracts. PHL denies the claims but agreed to the settlement to avoid litigation risks and costs.

Do you qualify?

Anyone who owned a PAUL or PEL policy issued by PHL Variable that experienced a COI rate increase between November 5, 2017 and the monthly deduction immediately preceding the policy's first policy anniversary date on or after January 1, 2021.

What the settlement pays

Pro-rata distribution calculated by dividing each class member's COI overcharges by total overcharges damages incurred by all final settlement class members

Paid from a $18.5M settlement fund. Individual amounts depend on how many valid claims are filed.

Who is in the class

All owners of PAUL or PEL policies issued by PHL that experienced an increase to the COI rate scales between (i) November 5, 2017 and (ii) the monthly deduction immediately preceding the policy's first policy anniversary date falling on or after January 1, 2021.

Quoted from the settlement notice.

How to file

If you owned a qualifying policy, you will automatically receive a payment by mail if you are entitled to one. No claim form appears to be required. The payment will be calculated pro-rata based on your individual COI overcharges compared to total overcharges across all class members.

Common questions

How much does the PHL Variable Life COI Settlement pay?
Estimated payout: Pro-rata distribution calculated by dividing each class member's COI overcharges by total overcharges damages incurred by all final settlement class members. The settlement fund is $18.5M.Why settlement checks are smaller than the headline number →
What is the status of the PHL Variable Life COI Settlement?
Payments distributed December 18, 2025. The court approved the settlement and the administrator has reported sending payments to class members who filed valid claims.
Is the PHL Variable Life COI Settlement notice real, or a scam?
JND Legal Administration is the court-appointed administrator. Claims are filed only at phlcoisettlement.com. Filing is always free, and no administrator asks for payment or a full Social Security number by email or text.How to tell a real settlement notice from a scam →
Who are the attorneys in the PHL Variable Life COI Settlement?
For the plaintiffs: Nicholas N. Spear (Susman Godfrey LLP (CA)); Krysta Kauble Pachman (Susman Godfrey LLP (CA)); Davida Brook (Susman Godfrey LLP); Seth D. Ard (Susman Godfrey LLP (NYC)). For PHL Variable Insurance Company: Erin Bennett Taylor (McDowell Hetherington LLP); Randy J. Duncan (McDowell Hetherington LLP); Kendall Johan Burr (McDowell Hetherington LLP); Thomas F.A. Hetherington (McDowell Hetherington LLP). From the public court docket.

Who's involved

Plaintiffs

  • Advance Trust & Life Escrow Services, LTA

Defendants

  • PHL Variable Insurance Company
  • PHL Variable Life Insurance Company

Counsel for plaintiffs

Counsel for defendants

Other cases these firms appear in

From the public court docket, contact details as filed; not an endorsement.

In the news

Headlines via NewsAPI.

Guides:Why is my settlement check so small?How long a settlement takes to pay outIs this settlement notice real, or a scam?

Summarised from public settlement documents; confirm terms on the official settlement website. ClaimWatch is not a law firm, and filing a claim is free.

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