How a $2 million lawsuit could help save the life of a dying grandma
The Magnum insurance company is taking aim at a man who says he’s been left without insurance after losing his home in the Great Recession.
The man filed a class action lawsuit against the company in a California court on Tuesday, saying that a catastrophic event forced him to pay thousands of dollars in premiums, but that Magnum hasn’t responded to his claims.
The lawsuit seeks an order that Magnam insurance company be forced to provide coverage for the man’s life insurance policies.
Magnam’s spokesperson, Lauren Wiegert, told BuzzFeed News that the company’s policy has “not been amended since March 2016.”
She added that “any change in policy would be the result of a court order.”
The man, who identified himself as Brian B., told BuzzFeed that he lost his home during the Great Depression in 2008.
He said he suffered from chronic pain, depression and anxiety.
“I lost my home because of the economic collapse,” he said.
“It was a terrible time.”
B. told BuzzFeed he was in his 40s when the Great Crash occurred and has lived in California ever since.
He has two sons and his oldest daughter lives in Los Angeles.
B. filed the lawsuit after he received an insurance claim from Magnam on March 30, 2020, claiming he owed $2,934 in premiums.
The policy was cancelled the next day, and B. says Magnam did not notify him until August that year that he would lose coverage for life insurance.
He then went to Magnam to file a claim, but was told that he was too old to qualify for the policy, which would have paid out $2.4 million to him.
He says that, after two years of not receiving any updates, Magnam put him on an indefinite suspension.
“Magnam never responded,” he told BuzzFeed.
“In July of 2018, they started sending out notices and letters and they would not send me a phone call or send me an email.
I would just have to call them.”
B.’s lawyer, Daniel B. Bowers, told the San Francisco Chronicle that he has “never been contacted by Magnam or any of the other insurance companies” regarding B.’ s claim.
“The only reason I’m filing this lawsuit is because I’ve had enough,” Bowers said.
B.’, who is blind, has lived alone for decades and relies on a cane.
“He’s been a single person since the Great Collapse,” B. said.
He added that his son is also disabled.
“If Magnam doesn’t have insurance for his son, he’s going to be homeless, and he’s not going to have a job.”
He said B. is seeking a total of $25 million for loss of life insurance and $5 million for economic loss.
Bower said that Magnom hasn’t issued any statements about the lawsuit or the situation.
The court filing comes after a number of lawsuits filed against the insurance company in recent years.
In February, a federal judge ruled in a class-action lawsuit that Magnamp is liable for the death of an elderly woman who was left uninsured for more than 30 years.
The woman’s family also filed a wrongful death lawsuit against Magnam, claiming the company failed to provide benefits to her.
The insurance company did not respond to BuzzFeed News’ request for comment.