Unum Life Insurance Company of America

Nature of the Proceedings:

Stipulation and Consent Order

Violation:

Failure to pay the amount of statutory interest on payments made under policies of life insurance pursuant to 8 V.S.A. § 3665(c)(2) and (d).

Action taken:

1. Cease and desist order.
2. Additional interest payments ordered to be made to beneficiaries in all instances in which the proper rate of interest was not paid.
3. Payment of the Department’s costs of $1,788.00.