PHT Holding I, LLC v. Security Life of Denver Insurance Company
Security Life of Denver COI Life Insurance Settlement
Case No. 1:18-cv-01897-DDD-SKC (D. Colo.)

Welcome to the Security Life of Denver COI Life Insurance Settlement Website

If you own or owned a Strategic Accumulator Universal Life Policy issued by Security Life of Denver that was subject to a COI rate increase announced in September 2015, you may be affected by a class action settlement.

IMPORTANT UPDATE: On September 15, 2023, the Court granted final approval of the Settlement. It was not required for Class Members to attend the Fairness Hearing. For more information, please review the Final Judgment.

What is this lawsuit about?

Plaintiff alleges that Defendant Security Life of Denver Insurance Company (“Security Life”) breached its contracts with Strategic Accumulator Universal Life (“SAUL”) policy owners. in September 2015, Security Life announced that SAUL insurance policies would be subject to a cost of insurance (“COI”) rate scale increase. Plaintiff asserts the COI rate increase violated the terms of the policy holders’ contracts, and that Plaintiff and members of the Class have been damaged as a result. Security Life denies Plaintiff’s claims and asserts multiple defenses. The Court has not decided who is right or wrong. Instead, both sides have agreed to the Settlement to avoid risks, costs, and delays of further litigation.

How do I know if I am part of the Settlement Class?

You are a Class Member if you own or owned a SAUL policy subjected to Security Life’s COI rate increase announced in September 2015. Excluded from the Class are those who have previously opted out of the certified class; owners whose policies were issued in Alaska, Arkansas, New Mexico, Virginia, and Washington; and Security Life, its officers and directors, members of their immediate families, and their heirs, successors, or assigns. Your legal rights are affected whether or not you act.

What does the Settlement provide?

A Settlement Fund of $30 million will be established for Class Members. After payment of the cost to administer the Settlement Fund as well as attorneys’ fees and expenses and the payments to the Class Representative (see FAQ 14), the Settlement Administrator will distribute the remaining amounts to Class Members in proportion to their share of the overall COI overcharges collected from the Class through December 30, 2022, with a minimum cash payment to each Class Member of $100.00. No portion of the Settlement Fund will be returned to Security Life. For more information please see FAQ 10.


Option/Deadline Event
Do Nothing Those who are eligible to receive a payment from the Settlement do not need to do anything to receive payment; you will automatically receive a payment from the Settlement. You will be bound by the Settlement, and you will give up your right to sue or continue to sue Security Life for the claims in this case.
Deadline: July 3, 2023
Tell the Court what you do not like about the Settlement. The purpose of an objection to the Settlement is to persuade the Court not to approve the proposed Settlement. A successful objection to the Settlement may mean that the objector and other members of the Class are not bound by the Settlement. For more information please see FAQ 16.

For More Information

Visit this website often to get the most up-to-date information.


Security Life COI Life Insurance Settlement
c/o JND Legal Administration
PO Box 91225
Seattle, WA 98111