Azar v. Prudential Insurance Co. of America

OPINION

FRY, Judge.

{1} This case is one of approximately twenty putative class actions in New Mexico in which life insurance policyholders allege that insurers have failed to adequately disclose to policyholders the additional cost of paying their premiums in installments — also called “modal” or “fractional” premiums— instead of once annually. In particular, policyholders claim that insurers have a duty to disclose, both before the policy is issued and in the policy itself, the following information: (1) the dollar amount difference between paying premiums annually and in monthly, quarterly,…