NEW YORK (CNN/Money) - An insurer whose agents sold high-cost life insurance to soldiers during their basic training in Georgia will give hundreds of full cash refunds, according to a published report Thursday.

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The New York Times reported the company, American Amicable Life Insurance Co., agreed to the unusual refunds amid an investigation by the Georgia insurance commissioner. The paper said a "market conduct" probe by the commissioner has widened to include at least four other insurers who sold policies to the soldiers at Fort Benning, Ga.

The paper said the policies cost soldiers as much as $100 a month and were sold to soldiers in late 2002 and early 2003.

The other insurers being looked at by Georgia are Pioneer American Life Insurance, which the paper said is a sister company of American Amicable Life, as well as Trans World Assurance, a unit of American Fidelity Life Insurance Co. and Madison National Life.

An attorney for Trans World Assurance and American Fidelity Life told the paper the firms are cooperating with the probe while the president of Madison National told the paper his firm has yet to receive notice of a probe by the state.

American Amicable Life Insurance and other insurers who have been selling products to young soldiers came under harsh criticism from members of Congress at a hearing into their sales practices earlier this month.

Congressmen charged that some American Amicable policies were sold inappropriately at Fort Benning, Ga., taking advantage of the soldiers. Legislation has been introduced that would ban some of the products sold to the soldiers, products that are relatively rare in the civilian market.

The Times also reported that three of the agents of American Amicable Life Insurance who sold policies at Fort Benning have been dismissed by the company and a fourth has left the company.

But the refunds and the dismissals may not end the company's problems, according to the report. Georgia Insurance Commissioner John Oxendine said that the refunds will be examined by his office and they do not necessarily "get them off the hook.

"There is also the issue of appropriate punishment and making sure that this does not happen again," he told the paper.