Thrivent Financial for Lutherans has reached a settlement with clients who accused the company of misleading them about certain life insurance policies.
An estimated 500-thousand people may be eligible for cash awards or extra coverage.
The clients accused Thrivent -- then Lutheran Brotherhood -- of falsely promising that customers wouldn't have to make premium payments on their policies after a set number of years.
Thrivent maintains it did nothing wrong, but senior Vice President Woody Eno says the firm believes the agreement addresses the concerns of the plaintiffs.
The financial terms of the settlement weren't disclosed.
Thrivent is a fraternal benefits society that sells financial services to three (m) million Lutherans nationwide.