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Nationwide To Pay $6 Million to Insurance Customers

Nationwide agreed to pay a $6 million settlement in connection with a suit filed in Franklin County Common Pleas Court in 2005, which alleged that the company collected more than the maximum annual premiums outlined in their policies, according to court documents. Checks are headed to 230,000 current and former Nationwide term-life insurance customers across the country. Nationwide had been accused in the lawsuit of fraud and violating Ohio consumer-protection laws. The average check will be for $47, said Marc Stanley, an attorney with the settlement administrator.

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