SACRAMENTO, Calif. (AP) — California officials have reached a $25 million settlement with a company that sells end-of-life policies through funeral planners, state Controller John Chiang announced Monday.
The settlement with Forethought Group Inc., a Texas-based company that, according to its website, offers planning for retirement and end-of-life needs, comes after a 2008 audit found what Chiang termed an “industry-wide practice” of companies failing to pay death benefits even though the companies had access to federal records indicating policyholders had died.
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