Life Insurance Refunds on Tap for Soldiers

The Associated Press

ATLANTA (AP) -- Georgia's insurance commissioner said American Fidelity Life Insurance has agreed to refund its life insurance policy holders $275 each.

Soldiers who purchased policies written from Sept. 1, 2004 to Oct. 2009 are eligible for the cash. Commissioner John Oxendine said he estimates that 962 soldiers will be receiving the payout. The refund comes after Oxendine's office found that insurance products offered by American Fidelity contained provisions that violated Georgia law and that the company's annual statements weren't filed properly.

Based in Pensacola, Fla., American Fidelity Life Insurance Company is an underwriter of the U.S. military's Service members Group Life Insurance program.

Oxendine is seeking the Republican nomination for governor in 2010.

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