Based on the jury verdict, total damages for the class comprised of approximately 2,000 policyholders are now estimated at $83.2 million after deducting prior settlement payments. With interest added, total damages are estimated at $211.3 million.
Indianapolis, IN. – Weisbrod Matteis & Copley PLLC and DeLaney & DeLaney LLC won a precedent-setting victory in a jury trial in a nationwide class action lawsuit against CNO Financial Group, Inc. and CNO Services, LLC concerning life insurance policy overcharges. The federal court jury verdict concerns “LifeTrend” policies issued by a former CNO subsidiary, Conseco Life Insurance Company.
On June 18, 2025, an Indianapolis jury awarded damages to lead plaintiffs William “Jeff” Burnett and Dr. Joe Camp on their claims for breach of contract. The jury adopted the damages model providing the most compensation to policyholders. After finding that the breaches of the policies caused the plaintiffs to surrender their policies, the jury awarded Dr. Camp $205,141 and Mr. Burnett $13,911 (not including interest). Based on the jury verdict, total damages for the class comprised of approximately 2,000 policyholders are now estimated at $83.2 million after deducting prior settlement payments. With interest added, total damages are estimated at $211.3 million.
The case is Burnett, et al. v. Conseco Life Insurance Co., et al., and was filed in 2012. The case is pending in the United States District Court for the Southern District of Indiana. The suit was certified as a nationwide class action over CNO’s objection. Plaintiffs allege that CNO overcharged policyholders with massively increased premiums and “cost of insurance” charges that were not allowed under the policy terms. CNO’s actuaries projected that thousands of policyholders would surrender their policies rather than pay the overcharges and, just as CNO predicted, thousands of policyholders surrendered their policies.
CNO denies that it can be held liable for breaches of policies issued by former CNO subsidiary Conseco Life Insurance Company, which already has settled out of the case for $27 million. That issue will be addressed in a second trial scheduled to begin on August 25, 2025.
“The jury resoundingly rejected CNO’s defenses, accepted the policyholders’ position that damages should be calculated using CNO’s own internal coverage valuations, and chose the damages model that produces the highest damages for the policyholders,” said co-lead counsel Stephen Weisbrod.
“We and our clients are thrilled with this precedent-setting victory on behalf of policyholders who suffered serious harm after CNO improperly changed the rules,” said co-lead counsel Kathleen DeLaney.
About Weisbrod Matteis & Copley PLLC
Weisbrod Matteis & Copley PLLC represents a wide array of plaintiffs in insurance recovery and other matters. The firm’s clients include private equity firms, product manufacturers, property owners, technology companies, government agencies, trusts, and many others. WMC has offices in the District of Columbia, Miami, Seattle, Jackson, and San Juan. For more information, please visit us online at www.wmclaw.com.
About DeLaney & DeLaney LLC
DeLaney & DeLaney LLC is an Indianapolis boutique litigation firm handling a variety of civil litigation matters including class actions, in Indiana’s federal and state trial and appellate courts. The firm is proud to have been recognized as an AV rated law firm by LexisNexis Martindale-Hubbell, and has been honored many times by Best Lawyers and SuperLawyers. For more information, please visit us online at www.delaneylaw.net.
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