January 29, 2015 2:38 PM ET


Company Overview of U.S. Financial Life Insurance Co.

Company Overview

U.S. Financial Life Insurance Co. engages in the clinical underwriting of life insurance products in the United States. It offers its products through insurance agents. The company is based in Syracuse, New York. U.S. Financial Life Insurance Co. operates as a subsidiary of AXA Equitable Financial Services, LLC.

Syracuse, NY 13221-4763

United States



Key Executives for U.S. Financial Life Insurance Co.

U.S. Financial Life Insurance Co. does not have any Key Executives recorded.

U.S. Financial Life Insurance Co. Key Developments

U.S. District Court Rules in Favor of U.S. Financial Life Insurance Co. in Lawsuit Brought by General Agent

The U.S. District Court for the Northern District of Texas granted summary judgment in favor of a life insurer in an action brought by a general agent alleging breach of an implied in fact contract between the insurer and the agent. A written contract between the parties was valid and operative, and the insurer was entitled under the agreement to reduce the agent's commissions. U.S. Financial Life Insurance Co. (USFLIC) sold primary term life policies. In 1992, Harvey Yoder, an insurance agent, joined USFLIC as a general agent. The agreement between USFLIC and Yoder provided that Yoder would receive a commission of between 20% and 25% of first-year premiums and between 1% and 3% on renewals, and it also included a bonus program. In March 2005, USFLIC introduced a new general agent agreement that permitted lower commission rates for the bonus program. On June 28, 2007, USFLIC, which was struggling financially, announced it would cease writing new business, and the bonus program was essentially shut down. Yoder sued USFLIC alleging breach of contract. Yoder claimed that the 2005 agreement with USFLIC was not the operative agreement between them because there was never a meeting of the minds given that Yoder made handwritten notes on the agreement indicating he had questioned parts of it, and that it was not signed by a USFLIC representative. Yoder further argued that the operative agreement was an implied in fact contract which, based on the course of conduct between them, included a requirement that USFLIC continue paying bonus-level premiums for newly-written business. USFLIC moved to dismiss.

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