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Bankers Life & Casualty Life Insurance Online Reviews

Company Name: Bankers Life & Casualty Life Insurance
Year Founded: 1879
Address: 111 E Wacker Dr Suite 2100,
City: Chicago
State/Province: IL
Postal Code: 60601
Country: United States
Phone: (800) 231-9150
Overall average rating of 1.5 out of 5, and the percentage of positive recommendations 5 %
Recently purchased a life insurance policy for my husband and I. The agent was personable and knowledgeable and consulted us through our options. It was a comfortable and seamless process and we are happy to have the coverage we need and can afford with a strong company!
I recently was talked into moving my money from one annuity I have had for over 9 years to one of Bankers Annuities. Within a 24 hr period I decided to cancel the transfer. The money which is quite a large sum was already in Bankers hands. I had 30 days to decide but I cancelled within the 24 hr. time frame. The cancellation was done and the funds were to be wire transferred back to my original annuity company. To say the least the broker for Bankers was not very happy with my decision. I requested that the funds be wired ASAP but because Bankers was mad, they wanted to get back at me so they decided to take a legal but unethical approach and tell me that they would hold on to my money for 20 days. This is so that they can make money off my money before returning it to me.They could have been nice and done the ethical thing and wired it within 24 hrs. but they choose to do otherwise. They also during the transaction downgraded my financial planner that I had for over 10 yrs. My mistake by letting these sleazebags talk me into something that I should have consulted my FP first. So a word to the wise, check out reviews first and don't be too eager to purchase without taking your time and do your homework. For me I would never give Bankers another thought, they are bottom feeders and don't deserve the money from honest, hard working people.
Do NOT purchase any plan from this company. They will give you the runaround and lie about checks being issued. And they will request the same information over and over. I've been fighting with them since June 1, 2017 for long term care insurance for my mother. Every time I call I'm told the money they owe will be expedited and a check will be issued in one to two days. As of November 8, 2017, I was told that the check would be issued the same day and mailed the following day. They've told me the same thing seven times. Do NOT use this company for any reason.
This is my experience and opinion of Colonial Penn and Bankers Life insurance company. However it may have been just the salesman but I cannot see him doing such a thing unless there was personal profit for him to do such a thing. Then again I came back for a third time because it still would not post and it made me sign my name in a way that was extremely intimidating. Again, interesting. Wow! And again. 4 times now. Total Wow! On my fifth attempt to post this I had to answer another series of questions but I will keep doing it over and over till it posts or I have to just give up and find other creative ways to inform people about what I see. I am a computer expert. This was in my humble opinion purposely done to make most people quit trying??? I do not know?My insurance man would not answer our question of how to make a payment after something started to make charges on our bank account and we just wanted to pay it with cash, money order, credit card, debit card, gold teeth, whatever. For over two days we tried to pay because the only option he told us was that there was only one way to pay, that all insurance companies have the same policy and that was that. So, for two days I tried emailing it, I tried it all. He said, over and over that the only way to pay was with an checking account draft period. His attitude was also so uncaring and arrogant so much that I disliked him intensely.I told him that and he scolded me to the point that I apologized and continued to press on for the two days, so finally my partner got her best friend to use her account, signature and basically sign an agreement to be responsible for everything as if she was committing to a giant responsibility. So, anyway after the two days my partner who is sick and elderly made it to the office with her elderly friend's life signed over. When we made it to the insurance office and my partner went inside to give you her friend's information God told me to get the hell out of that car and stop her. I did. I went inside destroyed the paperwork and stopped it.I ordered my partner to drop our policies and cut our losses because my gut told me your the level of dishonesty that was happening. Then I went back to our car and waited for my partner to get done talking to the lady who was at that Bankers Life office on Park Place Blvd in Clearwater that we were at. I had destroyed the possibility of payment so I did not care how long they talked. When my partner finally came out and to the car he told me the lady told her to just simply mail a money order. Need I say any more?I own Tampa Bay Coupon Club and we have a following of over 3,000 Tampa Bay followers so I'm creating a special ad that exposes Bankers Life as well as Colonial Penn who I will also send a copies to various people within the organizations as well as yours to at least try to not have this buried by one of you trying to hide this complaint. All of Tampa Bay will be informed by the end of tomorrow and you can see how well I made this advertisement for you by going to: **. You will have no problem finding out all about me and who I am and my company from that website if you even care enough to go see it.I posted this to our combined 11,000 followers on social media tonight on Facebook and Google but due to the nature of my advertising business I really need to design the website ad with lots of thought so that my maximum goal will be achieved without staining our website. If this makes you mad and you want to try and sue me then please do. I have everything documented where our insurance rep tried to cause us to be unable to pay and cause our policy to terminate stealing the two thousand or so we had invested over the past couple years. This is what it looks like to me and I can only imagine how many elderly and uneducated people you have robbed? I am sure we will never know.By the time you read this over 11,000 people will have been sent this letter from all four of my employees which I am causing and accept responsibility for. I logged onto their accounts as I have permission to do and posted this without informing them so come after me, not them. I believe I will have it completed by tomorrows end so add another 3,000 people who are paying attention and pass the information on. The 11,0000 on social media will more than likely pass by it but not all of them. P.S. the agent's phone number is **. I do not have his name. (Just in case it was all his actions instead of on a corporate levels.)
I have an Annuity Policy I started paying for 38 years ago. Now the agent that sold me my policy has retired and it's time for me to start collecting the money I put into my ANNUITY. I'm having a hard time getting my balance for the quarter. I've been asking and writing to Bankers for over 4 months. I'm just getting the runaround... I'm going to have to file a complaint with the insurance commission.
This company keeps calling me. It's been going on for 5 weeks and they won't stop calling me. I have never heard of them. Have no idea how they got my phone number. I have asked them repeatedly to stop calling me, even filed an incident report with my police dept., yet they won't stop calling me.
I am having my own issues with this Company. I was told that i would have the payout as soon as i turned in all documents. Still nothing. I hope i don't have to wait as long as ** did. My husband passed and left me in Debt.
Those people are not trustworthy. When they get what they want, they totally ignore you. Their agents cannot be trusted either. They do not tell you that when you sign, they will automatically take the next payment out of your account. Those people are a scam. Do not even let them near your home. You have no idea how much time it will take for them to cancel any policies or claims.
In May of 1999, I purchased a whole life policy from Bankers Life because I was a single parent of 3 children and thanks to HUD’s Family Self Sufficiency program, I was one of the first graduates in Las Vegas, Nevada to earn a certificate and was gifted with almost $8000 to assist in purchasing a home that would pave my way to a brighter future for me and my children. I wanted to ensure that if anything happened to me that my children would be provided for, so I purchased the policy.I vividly recall 2 women coming into my home to sell me this policy. I knew what the difference between whole life and term life meant so I opted for the whole life policy. I was told at that time by the selling agent that my premiums would never increase for the term of my life and that if I ever needed to borrow against the face value of the policy that that would be available to me. This brought me comfort, so I bought the policy and diligently paid my premiums for the next 19 years.I experienced a major life change in April of 2018 that forced me to sell my home and basically walk away jobless and homeless. Then, after chatting with some friends in December of 2018 about borrowing from your assets, I recalled that I could pull myself out of the life dilemma I had found myself in by simply drawing against my life insurance policy!! However, upon contacting Bankers Life (once I was FINALLY able to speak to an agent weeks later), I was devastated to learn that not only was the policy not going to cover me, but the cost of insurance had eaten away at any cash value I could have hoped to draw. AND, I owed them over $300 for the cost of insurance that had overdrafted my premiums!!! Not only that, but I was also instructed that what I had purchased nearly 20 years ago, was NOT a whole life policy, it was a universal life policy. Furthermore, to add insult to injury, I was instructed that I needed to make a decision because if I didn’t increase my premiums from $41.08 per month to over $400 per month that the policy would lapse. The premiums I had paid to date totaled nearly $10,000. If I had been told the truth from the beginning by Bankers Life, I would have taken those premiums over the past 20 years and have invested in something that would’ve paid me and my family back.Now, not only am I homeless, and jobless - it’s the time of my life I should be entertaining retirement, but I’m also out $10,000 of my hard earned money to a company that I felt I could trust. They have left me shattered, shocked, stunned and dazed. After consulting a couple of reputable financial advisors, I’ve decided to cancel the policy and walk away.Furthermore, I feel compelled to mention, that Bankers Life has been remiss in contacting me regarding the state of this policy, and it is extremely frustrating to contact them. Local offices have a robot that answers their phones. I’ve left numerous phone messages, I’ve emailed 4 different agents, I called their customer “disservice”, they make it virtually impossible to reach them. It’s deplorable to lie and put your valued customers on ignore. Food for thought... After my horrible experience with Bankers Life, I often wonder that if I had died and my beneficiaries tried to contact Bankers Life, would they even have any luck trying to cash in on the policy? Shame on you Bankers Life.
My mother died in October after being diagnosed with pancreatic cancer in June. I'm one of two beneficiaries and they still have not paid out $1. No one seems to know what to do in that entire company... So if you care about your loved ones DO NOT CONSIDER BANKERS LIFE.
I got this insurance policy and the lady, Ellen **, was very nice. The problem is I set up to have payments taken out of my account on a certain date and they took it out early, which caused me to receive a total of 4 late payments which cost $35 a piece. One month I notified them because I wasn't getting paid at work due to a crappy contractor. I said I was going to be late and they said thanks for telling them. Then they attempted to take it out of my account 2 times. Yes, another $70. Now they say they're gonna put me on quarterly payments. It's been 2 months and they're cancelling my policy because I'm late. 2 fricken months isn't quarter of a fricken year. Screw this B.S. of an insurance company. Please save yourself the headache and listen to me. This place sucks **. Seriously.
There are two salesmen, Daniel and Nicholas that think they have the right to latch onto our leg and shake us down til we give them anything and everything they want. Daniel has called our home at least 5 times and I have told him: We are on the National Do Not Call Registry - his response was that he doesn't have to check that because he is doing me a service. I requested he not call our home again-so he began calling our cell phones (how he got our cell phone numbers is beyond my knowledge. I demanded he not call our cell phones again because those are also on the National Do No Registry and I blocked the calls, so now they are coming directly to the door and sticking their foot in the door to prevent the door being shut.
I received 5 calls from Bankers Life, Charlotte, NC office to try to sell me a Medigap plan. Each time I've told the rep that I already have a plan and that I am on the Do Not Call List. Each time the rep says he will mark his records so that I am not called again. But I still received another call today. Finally, I filed a complaint with the FTC. These people must be stupid. And I'm really aggravated by this lack of professional ethics.
Wife and I had joint/dual Long Term Care policies with Bankers Life. Wife was diagnosed with Alzheimer's April of 2008. One year was allowed to pass for 3 ADL's [activities of daily living requirements] to be met. At which point [April 2009] Bankers agent [who is now currently in prison for theft of over 1 million from other clients] was contacted to submit required Long Term Care paperwork.Said agent did not meet with me until three months later [which was already outside the 60 day required waiting period]. After submission of required paperwork to above mentioned agent I attempted to contact her once each month for next three months [no response from either her or Bankers]. At which point [this process was now into its 6th month] I walked back into local Bankers office and asked to speak with her.Was directed to meet with her supervisor who informed me she no longer worked for Bankers. At which stage required paperwork was submitted by said supervisor to Bankers Corporate offices again. During next three months [ending in December of 2009] tried to contact said supervisor once each month also [no response].Long story short - was tasked with remaining home 24 hours a day, seven days a week, three hundred sixty five days a year for succeeding six years caring for wife who passed away Dec. 2014. Even after being notified above mentioned female agent was [2012] in prison and after new head of local Bankers agency reported to Bankers Corporate the fact my wife and I were victim's of said agent no criminal investigation was forthcoming. For additional confirmation of this type of Bankers Life activity see following Google entry subject: "Some Long-Term Healthcare Policies not paying up - CBS News".
Bankers Life never intends to pay out any money to a client or help them when they need it most. Bankers Life looks for every loophole imaginable to not pay the insurance claim, even if the client/insured has been paying THEM for years! As a family member, it's much easier just having the money in a liquid account to use when your loved one/senior citizen needs it most. Otherwise, you will not see one cent of the money you paid into any insurance policy through Bankers Life.
My mother had got a life policy in 2010 with bankers life. She passed away in November of 2011. I started the claim process in January of 2012. All of 2012 I would just be playing phone tag with the claims department. They kept losing the medical release forms. I even had to go to the main office in Carmel IN but they still kept giving me the run around. It is now February 28, 2015, I just got the check in the mail for the claim. It took 3 years for them to pay out a claim. It is ridiculous that they get away with stuff like this. I have filled out numerous reports with the state of Indiana over the way they handle claims. Do yourself a favor and stay away from these scam artists.
We obtained a short term care policy and cancelled within the 30 day period. It is now 7 weeks after the cancellation, 3 phone calls later and the refund still has not been issued. The first call confirmed receipt of the cancellation and no further automatic payment. The second call acknowledged receipt of the cancellation and that the refund would be processed forthwith. The third call, 2 weeks later, indicated that the policy was not cancelled, the automatic payment was supposed to continue but acknowledged receipt of cancellation 7 weeks ago. Still no refund and we were advised another 2 weeks to process. They certainly like taking your money and holding onto it as long as feasibly possible. I would not recommend this company to anyone.
In 2012 Agents from Bankers Life showed up at my mother's home. 5 years prior, my mother owned an insurance policy that she wanted to keep, to leave me, her only daughter, something if she died. I convinced her that she did not need to keep a $75,000.00 policy because the premium was expensive. She had been with Life of Georgia all of her life. She took my advice and together we agreed that a $30,000.00 policy was adequate enough to cover her funeral cost and leave me approximately $10,000.00. What was special with this is that because she had a savings attached to this policy she got what she wanted, she could get a paid up policy for $30,700.00 and she would not have to make any other payments, they would just take the monthly premium from the savings. After dementia started setting in my mother could not remember what we had done or why. She racked up bills and debt and once I learned of what was happening, I took over her finances. The distance with me in California and her in Jacksonville, Florida made it hard to say the least to keep up with all that she was getting into. Then one day the Insurance Agents from Bankers Life showed up. They convinced my mother that the paid up policy she had was not paid up since Life of Georgia, Now Jackson National, was taking a payment from the savings monthly and that they could offer her a "truly paid up policy". She called me and I spoke with the agents and they explained that their policy was for a little of $20,000.00 but she would not have to have that other insurance company taking her money. I asked them to leave my mom alone and not to change her policy and that I felt she was fine with what she had. They smiled a lot and ignored me and found they had a vulnerable senior so they did what they wanted to. My mom was defiant with me at this time in her life but I soon learned that dementia does that to elderly persons, so she listened to them and agreed to surrender her better policy for it against my wishes. If those agents had just left my mother alone as I asked them to, things would have been fine. However, less than two years after these unsavory agents got my mom to give up the little that she wanted me to have, she passed away. Then Bankers Life took me through the ringer. I had to provide them with 5 years of medical history so that they could prove whether or not she took their policy fraudulently, if she knew she had a medical condition in existence when she did the claim with them. After my mother's death, I asked that Bankers Life restore to me the difference in the policy amount that I lost because of their agents' deceptive practices. The agents and their deception about their "better product" cheated me of what my mom wanted me to have when they convinced her to turn over her policy to them. Someone needs to stop them from taking advantage of older senior citizens. So after 5 months they paid but said they denied my claim to make me whole because they claim that my mom was fine when she traded her $30,700.00 policy for their $20,600.00 policy. Who, in their right mind would take a deal like that. If my mom had been in her right mind, she would not have. After I got my mom to California in 2012, I started having her seen by different doctors. In April 2013, the final diagnosis from the dementia clinic found that my mom had dementia and that it was at least 4 or 5 years in progress since the onset which proved she had dementia when they convinced mom to sign their policy. They should not take advantage of a senior citizen and it is worse when they don't own up to it or stop their agents from such deceptive practices. That was all that my mom had to leave me and they took it! How many other seniors are they out there preying upon?
My significant other purchased a small life insurance policy in the latter part of 2013.. he passed on 7-6-14. I contacted Bankers around July 18th and they said the policy was good and they were taking the payments from my friend's checking account automatically each month and that they would send an agent to my home to get a copy of death certificate for that's all I needed. Since then I have been told they haven't received his medical records from his DR. Then was told they had the wrong fax # for Dr.. now they said the carrier delivered to wrong address.. now they said the Dr. didn't send again.. etc, etc.. They just don't want to pay. I am so disgusted. I'm planning on filing a claim with Pennsylvania board of Insurance and go from there. If need to be I will get an attorney to fight and let him keep every dime before I let Bankers get over on me. They had no problem collecting their money every month from my friend.. they should honor his wishes.. shame on them. That money was to help pay for his funeral which I had to borrow and now I have people waiting to be paid. I have 3 family members who are dropping their insurance policies with them also. Run if they approach you!!!!
I am very pleased with the life insurance policy both my husband and I have in place. I don't believe in having a enormous amount of life insurance, that my spouse or children will receive enough to live off the rest of their lives. I believe in enough to pay our debt and a little extra. They have done this for me and we are pleased with the services they provide for us.
Banker's business tactics are horrible. As a recruiter they want you to call every last resume ANYONE post online. There is no set of certain people you call to the point where they have DOCTOR resumes. You get paid $25 for each person that comes to their briefing, sounds promising, right?? Don't get too antsy be prepared to set up around 60 people for the briefing to only get about 7 people who will actually come in. That's what about $150 a week (if that cause of course no one is guaranteed to show up). You're better off working a minimum wage job (7 25hr) and making more money than you would at Bankers. They expect you to be on the phone for a certain period of time which defeats the purpose of them saying "You choose your own hours". By the way you only get paid commission on every so-called "career opportunities" they have. In fact the only "real" job they actually have available is insurance agents but they say they are looking for recruiters, insurance agents, financial advisors, and managers. Personally me actually working there I wouldn't recommend this job to my own dog!!!!! I only worked there due to my background and was at the point to take any job that came my way. Um, I beg a differ now. PS. The branch manager in Lexington is full of BS!! O yeah one more thing your salary a month is around $500 -$600 if you're lucky So enter at your own risk.
Unfortunately I realized that I had been taken for a ride too late. I purchased a $50,000 universal life insurance policy from an agent to whom I was referred to by a coworker. At that time the company where I was employed was fairly new and did not offer life insurance at that time. The agent came to my place of employment and met with the employees... Should they need a policy. The employee who referred me I felt was a bit shady and I made it clear to the agent {and I still have his card} that I want to be reassured that this person has no connections to his company. I felt that this company had a good reputation. I completed all of the necessary paperwork and the agent informed me that he take it with him and return it the next week. I thought that was protocol that he take it and review it. The next week came and he did not return it. I remember the next week I called him and he said he will get it to me. A few days passed and I had to call again. Finally he returned my packet and I thought everything is as it should be. At some point I was looking at the policy and all the answers had been redone... The pages were changed and restapled. When I looked at the amount of the policy it had been changed to $25,000 instead of $50,000. I was definitely shocked. Called the office where he worked in Tarpon Springs Florida and he was no longer employed. I explained to the lady and she said she was so sorry and that was it and that he and the other lady agent were no longer there. Not surprised. I then called the main office and no one seemed concerned. I am still paying $95 per month for this policy. I have paid so much that my payments on $25,000 are over the limit and on hold for a few months. The last lady that I spoke with said this is because it was initially a $50,000 policy. I was reluctant to report this because it has been so long... But I didn't know that I had been scammed for a couple of years. The company should be held accountable.
Short. Mom had 2 small policies. One with Bankers Life. One with Phys Mut. 2 weeks after filing claim I received a check from Phys Mut and a letter from Bankers Life. I am still jumping through hoops. I went to insurance board. Then someone else sent me another letter with different hoops. Always just vague enough that when you call I must do just one more task. Bottom line they are crooks and have no intention of paying. If you see them coming, run.
In September, my husband was pursued by a brand new (and very young at age 21) agent named LS. After a casual meeting at mutual friend's house, my husband decided to begin the application process to start a policy. All the while the agent was assuring us that the policy had a "trial period" and we could cancel for a full refund at anytime. At the time LS asked if we wanted to enroll in auto payments for our premium and we specifically said no. He asked my husband to sign the form and that way if we ever changed our minds we would have the proper form on file. LS was very aggressive in getting my husband to sign up. He called, texted, and even met with my husband in person.About 1 week after my husband signed the application we decided that this was not the best policy to fit our needs. LS tried to sell us on another policy, and then another and then another. We politely declined. About a week later my husband called and texted LS with no response. LS responded via text a few days later stating that he would need to meet with my husband to cancel. Over the course of the next 2 months LS scheduled and cancelled (sometimes only minutes before the meeting was scheduled) more than 5 times-always with a different excuse.Finally in November, the very last communication from LS said that we would be refunded our initial payment of $200 directly from Bankers Life. We were satisfied with that as we were clearly not happy and found our agent to be incompetent and unprofessional in his lack of communication. Fast forward to December and we start getting invoices for premiums due followed by policy cancellation form. We were under the impression from LS that our check was already on its way. Fast forward to January and I notice that Bankers Life has withdrawn $200 from our business account in November and December (they got the routing numbers and account numbers from our initial down payment check).Of course, now LS is nowhere to be found-although since this company works 100% on commission, I am sure he knew what was happening. Since LS was completely non-responsive, I had to go through his branch administrator. I had to supply all of my text messages and full written documentation of what happened in order to get back our $600.00. She then had to go through corporate to resolve this issue. It is February 26th and I was finally told that the policy is voided and a refund check for $600 would be mailed promptly. The utter lack of professionalism displayed by LS was almost shocking. It really felt like a bait and switch. Thankfully, his supervisor was able to handle this for us and refund our money. It's unfortunate that it took almost 5 months and that our "agent" was so deceptive while securing the policy yet MIA when we needed him.
I asked for an illustration of my fathers Universal Life insurance policy. I hand delivered POA paperwork. The home office 4 months later, stated they didn't have it and needed to speak with my father. He gave them a go ahead over the phone and we asked for an illustration of the policy to see how it is going to perform. WEEKS later we received an encrypted response that can only be downloaded by Adobe at $29.99. Whatever happened to customer service? You know. "Sure sir, we will email that right over to you." WEEKS later is no exaggeration. I am going to wait to see when the hard copy arrives in the mail. POOR CUSTOMER SERVICE.
I discovered that after changing my supplemental Medicare health insurance through Bankers, the company didn't cancel the first policy I had with them and "double-dipped" my automatic bank withdrawals. The agent, Donald **, had the gall to ask me to supply records of the original policy. Trying to reach them has been a hassle, including an unreachable e-mail address on both the agent's card and the company card. In effect, they have been illegally using my money for 6 months and causing me fiscal problems with my fixed income status. I can't help wondering how many other seniors they have done this to and how much profit they have made with this scam! I have an attorney who will investigate this.
My mom (87) recently had a fall and has been in a rehab facility for a few weeks. I was going through her strong box and came upon a letter from BANKERS LIFE AND CASUALTY COMPANY OF NEW YORK. The Policy No. was also on the letter. It was dated March 2,1992. It read "We are happy to advise you that your life insurance will become fully paid up effective April 27, 1992. The amount of this policy will remain in force for life or age 100 without any further payments. Enclosed is our check for $25.20 for over payment of premiums from April 27, 1992 to June 27, 1992. If you have any further questions concerning this matter, please do not hesitate to contact us." Signed by a female _______________ Mgr. - Policyholder Service Dept. Looking them up online, I ended up calling Woodbury, NY; Staten Island, NY; Rochester, NY; and finally Chicago, IL, to be told this company totally went out of business.
They are by terms of their Life Insurance Policy (which is a binding contract) suppose to supply the policyholder with an Annual Report. I have a 2 policies (one on husband and one on self). Both of these policies are missing several years reports. I have contacted them 6 times beginning in the fall of 2014 and it is Spring of 2015. When I get what they are sending out as annual reports for the missing years, it is just pages full of 0's in every column. I can see where from Annual Reports that I have received that they are taking money from the Accumulation Account to pay premiums that are not due. The payment plan is set up on bank draft, no payments have been missed, but they continue to act like the payment is not made. They are double-dipping as well as depleting the cash value of the policy. Also, it seems that they are over-charging for the "cost of insurance", but this I cannot prove until I get all the missing Annual Reports.
The agent has taken the time to really get to know me and why I need life insurance. He calls every 6 months to check in. We meet once a year to see how the policy is doing. I am very happy with the company and how the policy is doing.
My parents purchased a long-term care policy from this company 30 years ago and faithfully paid premiums for that entire time. My father is now 90, suffers from dementia and several other health issues and was recently placed in a long-term care facility. We filed a claim with Bankers Life and immediately encountered stall tactics, with the company saying they needed "more documentation" from the facility, then when given that, they would claim they needed more information from his doctor, or from us, etc, etc. All in all, what was a VERY clear cut case took over 60 days for them to finally certify. Of course, my parents were led to believe this policy would cover 100% of any costs incurred by them if they went to a long-term care facility. In fact, this policy covers less than half of the monthly cost.Once we finally had that taken care of, we were told to send the monthly invoices we received from the facility (after they were paid, of course) to Bankers Life claims department and they would "quickly reimburse us." We did, and EACH AND EVERY MONTH we have received nothing but stall tactics, headaches and frustration. This company will try ANY trick in the book to deny the monthly claim. So far, they have denied us because an invoice didn't have the dates of service in the proper place on the invoice, because they claimed we had already submitted an invoice. It was a duplicate and had already been paid (it had not) and because they claim they never received one of the invoices we sent. That's THREE invoices they've tried to deny and my father has only been in the facility for FOUR months!I have had to call customer service EVERY month asking why our claims haven't been paid and it's quite obvious that these employees are trained to use these stall tactics. I'm quite sure this company believes people will eventually get tired of the run-around and simply give up. The truly awful thing is many elderly people who don't have adult children or a trusted friend around to help them through all the nonsense this company throws at them probably do give up. DO NOT, I REPEAT, DO NOT DO BUSINESS WITH THIS COMPANY if you expect fair treatment and your claims to be paid in a reasonable manner.
I have also experienced stalling by Bankers Life for claims that were opened prior to my Mother’s passing in 2017. There is not enough space on this website to tell you everything I have been through, so I will just give you the worst of the worst. After their reps had helped me in the past, a few weeks ago, they refused to help me unless I posted our Trust documents proving I was Trustee of my Mom’s estate, and wanted me to post it on their website. Even though I expressed my extreme irritation/concern to Stacey ** and Supervisor Sophia (they oftentimes refuse to give their last names), I reluctantly posted it online.To make a long story shorter, we came to find out that someone had cashed 2 checks totaling $900.00 that were intended for our estate. Bankers Life sent us back a copy of the front and back of the 1 check (we have yet to receive information on the 2nd check). The back showed nothing but a squiggly signature which resembled nothing close to mine, nor my sister’s, who is a Co-Trustee. I confirmed with their bank (The New York Bank Mellon) that that check had cleared, plus one more. Then, they refused to help me anymore, and was told I had to deal with Bankers Life from then on.Someone got a hold of these 2 checks---I doubt they were ever mailed---and likely used my Mom’s, sister’s and my personal information, and with it probably forged or created Trust documents and signatures, and presented them to The Bank of New York Mellon (they have yet to tell us which branch cashed it), otherwise I highly doubt that the checks would have cleared. I am telling everyone I encounter not to buy a Bankers Life insurance policy and why.
Called the customer service number after my mother died to cancel her policy. Was told I needed to send a death certificate, and send in a form which I could download off the website. The website is a disaster, could not find the form for that after looking through the claim section. Called back, Kevin in India, acted like he knew NOTHING OF CLAIMS but was reading off a prompter. I did not get the help I needed. I had my dad put a stop payment on the premium payment at the bank. I guess if they don't get their premium they will cancel her policy.
We have Bankers Life supplement insurance. My complaint is how pushy to buy other insurance, invest in an annuity. They have asked how much money we have in our checkings and asked to see financial papers. They have been told no but have sent financial advisors to my house, called several times to see if we read the literature. I feel they are harassing, and intimidation to make people buy from them. They have overstepped their bounds at this house.
When I was bedridden, the agent came to my home to explain the policy to me before I signed up. The customer service over the phone has also been great. I pay by automatic draft so I don't ever have to worry about a missed payment or lapse in policy.
My parents bought a long term health care policy from Bankers Life years and years ago. My Mother passed away in 2011, having had to use the policy benefits for only 5 months. As of 2011, my father now requires a long term health care. In order to be reimbursed each month we would need to submit the receipts, and fill out the claim forms after services had been received (and paid for up front) -- they would reimburse us.We filed our claim, and they received it on March 13, 2015. We have yet to get reimbursement from this company for either March or April services. Every time we call the customer service department, we get excuse after excuse. I contacted their "customer service" (not very customer friendly or helpful) a numerous times and was told a different story each time. Their excuse is always they need "additional" information from the nursing center, although we have proof they received the information at least 4-5 times, I have been told that they would request my claim be "expedited", however the next time I call they say that this request was not communicated to the "Claim Department" - this service is for March and April, today is May 22 and we have yet received anything.We called the 800 number AGAIN, last week. We were told that they needed another document from the facility, and had just received it. So now it would be another 10-15 working days. We get the same line about every 2-3 weeks. It is nothing, but stall tactics. It is a crying shame that this company preys on elderly (and the not so elderly), selling them a bill of goods. These people obviously need the money when they need it. Bankers Life obviously feels that it is more important for the company to hold on to their customer's money (which is the customer's money). I would not recommend doing business with this company if you ever want to receive any benefits. They will use every stall tactic known. They are good at taking your money but think of every excuse not to pay out your benefits.
My mother received a phone call from someone who introduced herself as a Medicare employee and offered help to pay for medications not covered by medicare through introducing programs which will pay for medications. She made an appointment and left her number. I called this number (mobile) and this person confirmed that she wants to introduce programs which will cover medications not covered by Medicare.Two days later two women showed up and filled up many pages of paperwork with my mother's personal information. Most of the questions were about how much money my elderly mother, retired senior citizen makes and conversation was all about money and not about medications. They left their business cards according to which they were Bankers Life employees. Quite dishonest way of conducting business.
This company took my money for over 3 years. 313.00 a month for my grandfather life insurance. When he passed they continued to take money out of my account and when I informed them that he had already passed they told me I would get it when the claim paid out... I'm still receiving bills because I closed the account they were stealing from.
DO NOT USE THIS INSURANCE COMPANY. IF YOU HAVE A POLICY WITH THEM CANCEL IT AND GET ANOTHER BEFORE IT IS TOO LATE. My mother died on April 30. The policy was to be paid to my brother and I who wanted to pay for our mother's final expenses. I called Bankers ON May 1st and they said they would send a check within 48 hours. They did not. We wanted to make sure we had the money for my mother's funeral. I could not have the funeral but had to pay out of pocket for direct cremation because they did not send out the check for the life insurance. I wept because I did not want to but I had to cremate my mother and I still and traumatized by it.I called at the end of the week when the check did not come in. I had to speak with a supervisor and I begged him to please help our situation who said that the check was held up in claims department and he would call me back Monday. It was Tuesday before he called and he said the checks would be sent out may 9th and would take 5 to 7 business days. They did not arrive in 7 days. In fact, they sent my check to the wrong address. Thank God it was my brother's. I sent them the death certificate with my correct address spoke to them several times and they still got it wrong. Thank God my brother got both checks and sent them to me. I finally received the checks on May 18th almost three weeks after my mother died. This was a traumatizing and terrible experience for a son grieving his mother's death and for our entire family.
I keep getting calls from these people every day during Medicare open enrollment. This despite the fact I am on the DO NOT CALL LIST. I have repeatedly requested and lately demanded they stop calling. I don't want the insurance. I have insurance. After reading some of the other complaints I would never do business with these people under any circumstances.
My parents purchased a policy and paid for it for many years. At the time that they both became ill and we started trying to file claims with this company, there was always some loophole they would find in the policy as to why they wouldn’t pay. We never received one penny from this company, even though my parents paid on this policy for about 20 years. One example is they refused to pay for an ambulance ride from the hospital to a hospice facility. Said that wasn’t covered, but said they would pay for an ambulance ride from a hospice facility to the hospital. Of course they will pay for that because people don’t usually take an ambulance from a hospital facility back to the hospital. They are a scam, money takers, cold hearted, and will make you provide tons of documentation then only to say, "Sorry that’s not covered."
I am pleased with this insurance company. Their agents have been helpful to me in choosing a plan that is right for me and have always been friendly and helpful. This company has a good reputation and has been highly recommended. They have plans that would be suitable for different needs.
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