By B. Raack, KWMU
St. Louis, MO – African-Americans and other minorities who paid higer premiums on Metropolitan Life Insurance policies than whites because of their race will be compensated.
The state of Missouri announced a settlement with MetLife today that will pay $4.8-million to more than 55,000 state residents. Missouri Department of Insurance general counsel Eric Martin says policyholders will receive between $20 and $80 each.
Those eligible were insured by an industrial life, ordinary life or so-called Metropolitan Series policy between 1901 and 1972.