The allegations contained in the lawsuits involve nearly every aspect of Aflac’s business and have already led to a series of investigations by state and federal regulators.
Aflac President Paul Amos II, the grandson of the founder, abruptly resigned in June to join a boutique private equity firm, receiving a $3.4 million golden parachute.
In November, the ex-employees showed Aflac a 93-page draft of a class-action suit against the company, in an attempt to settle the dispute out of court.
When an Aflac associate leaves, the accounts they managed to sell transfer over to the sales coordinators.
After the former employees described the allegations to Aflac management in a December 10, 2016 Dispute Notice, the company nixed the 10-year income example, replacing it with new recruiting materials promising a more modest first-year commission of $64,000.