Phoenix Variable Life Class Action

As a service to our members, we are presenting a copy of the Complaint filed against State Farm for actions and inactions concerning State Farm’s relationship with PHL Variable Insurance Company or the Phoenix Companies.

In an agreement in 2001 State Farm agreed to allow Phoenix to sell life insurance and annuities through State Farm agents.

When Phoenix was no longer “investment grade” State Farm withdrew from its written agreement to sell Phoenix products through its agents.

In March, 2023, the Connecticut Insurance Department placed Phoenix in “Rehabilitation”. At that point in time, the assets of Phoenix were frozen.

In November 2025 suit was filed against State Farm by several individuals who seek Class Representation for the claims against State Farm for breach of fiduciary duty, professional negligence, violation of State consumer fraud acts, unjust enrichment, and breach of the covenant of good faith and fair dealing, with respect to life insurance policies and annuity contracts sold by State Farm agents.

What follows is a copy of the 39-page Complaint filed in the United States District Court for the Northern District of Illinois, Eastern Division.

A Class Action is a device permitted by Federal Law to allow persons with similar claims against a defendant to present their claims as a group, or class. To proceed the plaintiff’s lawyers must show that the claims are common, that presenting the claims as one would save judicial time, and that it does not present an undue burden on the defendant, State Farm. State Farm has the right to contest that request for Class action status, and of course to defend itself on the merits of the claims.

We would expect at some point in the future class action status will be approved and then the plaintiff’s lawyers will begin the notification process and solicitation of participants.

We will supplement this page with additional pleadings as they become available.