Advance Trust & Life Escrow Services, LTA and James Kenney v. PHL Variable Insurance Company
PHL Variable Life COI Settlement
Case No. 18-cv-03444-MKV (S.D.N.Y.)

Welcome to the PHL Variable Life COI Settlement Website

If you own or owned a Phoenix Accumulator Universal Life or Phoenix Estate Legacy policy issued by PHL Variable that was subject to a COI increase starting in 2017 and ending in 2021, you may be affected by a class action settlement.

IMPORTANT UPDATE: The Fairness Hearing (scheduled on December 19, 2023) will be held telephonically. For more information, please review the Notice here.

What is this lawsuit about?

The class action lawsuit alleges that PHL breached its contracts with certain policy owners. Starting in August 2017, certain policy owners were issued letters announcing that certain PAUL ("Phoenix Accumulator Universal Life") and PEL ("Phoenix Estate Legacy") policies would be subject to a new COI ("cost of insurance") rate increase. Plaintiff asserts those COI rate increases violated the terms of the policy holders’ contracts, and that Plaintiff and members of the Class have been damaged as a result. PHL denies Plaintiff’s claims; however, both sides have agreed to the Settlement to avoid the risks, costs, and delays of further litigation, including an appeal, so that people affected will get a chance to receive compensation.

How do I know if I am part of the Settlement Class?

The Settlement Class consists of 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. For more information, please see FAQ 7.

What does the Settlement provide?

Settlement Class Members will receive the following benefits:

A Settlement Fund of $18.5 million will be established for Settlement Class Members. The Settlement Fund will be reduced proportionally if there are any Opt-Outs from the Settlement Class. After payment of the cost to administer the Settlement Fund as well as attorneys’ fees and expenses and the payments to the Class Representative, the Settlement Administrator will distribute the remaining amounts to Settlement Class Members on a pro-rata basis calculated by dividing that Class member’s COI overcharges by the total overcharges damages incurred by the Final Settlement Class Members. No portion of the Settlement Fund will be returned to PHL.


Option/Deadline Event
Do Nothing Get certain benefits from the Settlement — Automatically receive a payment in the mail if you are entitled to one, be bound by the Settlement, and give up your right to sue or continue to sue PHL for the claims in this case.
Exclude Yourself
Deadline: October 23, 2023
Remove yourself from the Settlement Class, get no benefits from the Settlement, and get no benefits from the Settlement. Keep your right to sue or continue to sue PHL, at your own expense, for the claims in this case. For more information, please see FAQ 14
File an Objection
Deadline: October 23, 2023
Tell the Court what you do not like about the Settlement. The purpose of an objection to the Settlement is to persuade the Court not to approve the proposed Settlement. A successful objection to the Settlement may mean that the objector and other members of the Settlement Class are not bound by the Settlement. For more information, please see FAQ 20.

For More Information

Visit this website often to get the most up-to-date information.

PHL Variable Life COI Settlement Administrator
c/o JND Legal Administration
P.O. Box 91420
Seattle, WA 98111