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MetLife Settles With N.C. Over Racially Discriminatory Life Insurance Rates
Posted — UpdatedRALEIGH, N.C. — North Carolina Insurance Commissioner Jim Long announced Monday that MetLife has agreed to a settlement addressing past racially discriminatory practices in the sale of life insurance.
The practices involved limiting the amount of coverage and charging minority and poor policyholders significantly higher premiums than comparable policies held by other segments of the population.
The settlement provides monetary benefits to the affected policyholders and certain beneficiaries. Those affected in N.C. will get a combined total of nearly $4 million.
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