John Hancock Life Insurance Company has agreed to pay more than $40,000 to settle allegations that it provided erroneous information to consumers who inquired about their coverage under certain long term care policies.
The Massachusetts attorney general had alleged that a technical error with John Hancock's policy production system caused it to send incorrect forms to policyholders, misinforming them of coverage levels for assisted living residences.
"Consumers must receive accurate information so that they can avoid being trapped in a policy that doesn't best provide for their needs," Attorney General Martha Coakley said. "We are pleased that John Hancock has agreed to provide full coverage and restitution to the consumers who were misinformed."
