Checkbook Accounts: Unum Gets a Reality Check

Washington, DC: In 2008 the US First Circuit Court of Appeals ruled against Unum after three beneficiaries of an employer-sponsored plan sued the insurer when they were mailed checkbooks, arguing that their policies with Unum stated they would be paid "in one lump sum." According to the 8/6/10 edition of the Wall Street Journal Unum and plaintiffs lawyers agreed upon a proposed $5 million settlement that would apply to beneficiaries with similar language in their policies.