UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report January 29, 1998
(Date of earliest event reported)
ALLIED Life Financial Corporation
(Exact name of registrant as specified in its charter)
Iowa 0-22404 42-1406716
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
701 Fifth Avenue, Des Moines, Iowa 50391-2003
(Address of principal executive offices) (Zip Code)
515-280-4211
(Registrant's telephone number including area code)
The total number of pages contained herein is 2.
1
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Item 5. Other Events.
ALLIED LIFE FINANCIAL CORPORATION ANNOUNCEMENT
ALLIED Life Financial Corporation (NASDAQ symbol ALFC) (the "Company") announced
today that a complaint has been filed by Sharlotte G. Harbott, a policyholder of
the Company's principal subsidiary, ALLIED Life Insurance Company ("ALLIED
Life"), in Superior Court of the State of California for the County of Los
Angeles, against the Company, ALLIED Life, ALLIED Mutual Insurance Company
("ALLIED Mutual"), and unnamed persons. The complaint, an alleged class action
suit, asserts that ALLIED Life fraudently increased the cost of insurance rates
charged to policyholders in breach of the terms of its universal life policies,
its fiduciary obligations, and its obligations of good faith and fair dealing
toward its policyholders and without adequate notice. The plaintiff, an insured
under a universal life policy issued by ALLIED Life, seeks actual,
consequential, and punitive damages in unspecified amounts as well as interest,
attorney's fees, an accounting for moneys allegedly improperly charged to
policyholders, and injunctive relief, on behalf of herself and all policyholders
of ALLIED Life with similar universal life policies. The Company, ALLIED Life,
and ALLIED Mutual disagree with the allegations and intend to vigorously defend
this action.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ALLIED Life Financial Corporation.
(Registrant)
/s/ Wendell P. Crosser
Wendell P. Crosser, Vice President and Treasurer
(Principal Financial Officer and Principal Accounting Officer)
Date: January 29, 1998
