Bankers Life & Casualty Life Insurance

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Consumer Reviews and Complaints

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Satisfaction Rating

When Bankers Life agent Ed ** and I initially met (June 20, 2017) to discuss the possibility of purchasing life insurance. He told me it would not be an issue if I changed my mind about the policy so long as I did that prior to having the medical tests performed. At no time during that meeting did he tell me that if I changed my mind he would need to have a letter sent to me stating that Bankers Life would be declining coverage.

On Friday, June 23rd, I called Ed ** to tell him I had decided to not go forward with purchasing a life insurance policy. Mr. ** told me then that he would return my deposit, which he has done. At the same time Mr. ** told me that since I was changing my mind about purchasing the insurance I would receive a letter from Bankers Life informing me that I was declined coverage, that letter was merely an administrative convenience for him to cover my request to stop the process of the insurance application. Mr. ** specific reference to the letter stating that coverage was declined puzzled me. I was puzzled because at that time I was not aware of the consequences of such an official action, so I attributed Mr. **'s declaration to simple petulance over losing a customer.

However, as you are probably aware, a declination letter from an insurance company is no mere administrative formality. It has come to my attention the serious ramifications of such a letter. When an insurance company declines to insure a person, that declination goes into a database that is accessible to all insurance companies.

The result is that this letter will probably significantly impact all future life AND MEDICAL insurance coverage, and premiums or cost for me. That deleterious impact was neither explained to me by Mr. **, nor is it justified. For the plain reason that the letter was instigated solely as an immature response by Mr. ** to my decision to not purchase life insurance I respectfully request that you withdraw the DECLINE COVERAGE determination and letter. My letter of complaint to the corporate headquarters of Bankers Life, that included a request for retraction of the letter has not been responded to after five weeks.

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My mom died 2 months ago. Within days of her passing, my dad filed a claim. We were told 10 days tops till he received the check. Since then, Bankers has made him fill out forms and send in death certificate THREE TIMES!!! The local agent he and my mom bought the policy from (Maumee, OH) DOES NOT RETURN PHONE CALLS. Highly disappointed in their customer service. He just received forms in the mail again today. THE SAME forms he has filled out and faxed in before. After reading all the other reviews, I so wish they would have seen them before purchasing this policy.

He currently has one for himself with them as well, which I'm sure will be cancelled. Not to mention the agent Nichole, has tried to get his business for his retirement. HA! Not a chance. Stay away from this company. It's shameful that while grieving your loved one, this is what they put you through. My parents paid premiums for almost 2 years on a small 10g policy. Good luck to anybody that has a large one. They don't like to pay. May be time to get a lawyer.

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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.

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I have had a Home Health Care policy with Banker's Life for the past 3 years. There has not been the same agent to service my policy since first purchasing my policy. I have three visitations from a team of agents wanting to "review" my policy. When I ask for a cost to get improved options of their elimination period or daily benefit amounts, I never get a return call. Their sole purpose is not to service your policy, but to sell additional investment services such as annuities. Today, their agent, Heather **, hung up on me when I insisted on obtaining benefits information by phone instead of another home visit. I wanted a dollar amount of the cost to reduce the elimination period from 90 days to a shorter term.

When you call the Denver office, all you get is a recording. No one responds to your message for assistance with your policy. I think I will cut my losses and not continue with this policy. I have read about their excuses, run-arounds, and delays in payment of claims. Their customer service is terrible. I regret paying high premiums for the past 3 years for very limited coverage especially the long waiting period to access benefits. I would definitely NOT recommend Bankers Life and Casualty.

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My elderly mother bought a long term care policy from a Banker's Life Sales Rep who knocked on her front door. When I read the policy I told her to stop paying the premiums and let it drop because there were too many requirements to collect and she probably never would. She said the sales rep told her if she had this policy she would be able to stay in her home if she became unable to take care of herself. That was a lie. When Mom had to move out of her home because of Alzheimer's Banker's Life did not want to pay for her to stay in an assisted living facility. The sales rep actually told me I should take Mom home with me. I told her I had her in my home and neither my husband nor I had slept since. We could not do it. She said the policy would pay for a nurse to come to my home for 4 hours a day. I asked her if she would like to come the other 24 hours. There is no way Mom could stay in her home or mine with that level of care.

I decided to call the home office because I was not getting anywhere with the sales rep. The home office sent me the paperwork to file a claim. Until they received all the required documentation they would not open the claim and process it. I provided 85 pages of required documentation. I sent them a copy and kept a copy for myself. I numbered the pages. I received numerous calls and letters telling me the claim was not being processed because I had not provided everything. I would call and ask what was missing and then tell them they had it and what page information that was on. They had everything. They refused to pay for various reasons even though Mom qualified according to the policy.

I had been appointed legal guardian for Mom by the courts. I finally told them I was going to turn everything they sent to me over to the attorney if they did not pay her. They approved her claim shortly after that. When I let the attorney know she would be receiving those payments his comment was, "How did you get them to pay? That is hard to do!" I told him I threatened them with him.

When Mom had to be hospitalized they quit paying. I continued to pay her rent at the assisted living facility because the Dr. hoped they could send her to rehab so she could go back to the facility. I called about the non-payment. They told me if she was in the hospital they did not pay. Mom went to rehab but they were not able to rehab her, she had to go to a nursing home and passed away within a few months. Banker's life stopped paying and I could not even get them to pay what they owed during her stay at the nursing home. I even received a letter saying the claim was closed and they still owed her money.

After Mom's funeral, when I had the time, I read the policy again. There was a bed reservation fee coverage. That said they would pay her rent for 21 days if she was hospitalized to hold her room at the assisted living facility. I had been told there was no coverage for that. I called Banker's Life and read this to them. They said I did not have the correct policy and read me something else. I told them I had the policy that was given to Mom when she got their coverage. I faxed them a copy of the policy Mom had. They also owed her monthly payments for the time she was in the nursing home.

I must have called them 100 times and received numerous letters from them, sometimes 3 or 4 a week denying coverage. I was told the claim was closed and I also received a letter stating that. I told them the claim was not closed because they still owed Mom's estate money. It was not a lot of money but I was not going to let it go. They took very high premiums out of my mother's checking account every month for years. They never had to beg her for payment, they just took it, and they were going to pay her what they owed her. I threatened many times to take it to the attorney and to file a complaint with the Texas Department of Insurance. They finally paid what they owed.

My advice to ANYONE is: If you do not have an advocate to do what I did for Mom do not purchase this insurance. Your health has to be VERY bad for you to collect and you will never be able to do it on your own. I have been in business for myself for many years and knew what I was doing and it was almost impossible for me to collect. I would NEVER buy insurance from Banker's Life after my experience with them. There is a movie called The Rainmaker which is about insurance fraud. I felt like I was the main character. Watch it. It is a good movie and it shows that this stuff really happens. Unbelievable.

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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.

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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.

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My dad had a long term care policy with them, but they did not honor it. We filed for coverage on the policy in April 2016 when he entered an assisted living facility, but they rejected the claim, saying he was not getting enough assistance. He couldn't get in and out of bed or dress or bathe without assistance and used a walker, but they claimed he did not qualify. He was approved, however, by John Hancock, with whom he had another long term care policy. Bankers Life did not do a thorough investigation like John Hancock. They just quickly rejected the claim. His condition worsened and he had to go to a nursing home in October 2016. We filed another policy then, but they have a 90-day blackout period (grace period?) and my dad passed away on January 20, 2017. Despite the fact that my dad paid his premiums for years, Bankers Life never paid a dime for his long term care.

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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.

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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.

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My mother had LTC insurance through Bankers Life & Casualty. She received many services at her assisted care (including med distribution, assistance toileting, assistance dressing, assistance bathing, assistance transferring), but BLC would not pay because it was not a "nursing home." My mother then moved into a hospice facility with 24 hour nursing care for the last 6 months of her life. But again, because it was not licensed as a traditional nursing home, they kept denying coverage.

They would also keep asking for information we had already sent. They do not assign an agent to your case. So when calling, you always get someone new which requires you to explain your story over and over again. They never call back. Instead you get another letter stating materials are missing, when they're not! The hospice facility director finally submitted mom's care broken into personal care hours. They finally paid, but only for 3 months. And it took hours and hours of my time, the hospice director's time, and the facility director's time. Both directors could not believe how terrible Bankers Life & Casualty is.

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Worse service of any company I have ever dealt with. This started a few years ago and required an attorney to get them straight. Part of which required them to acknowledge receipt of my Power of Attorney for my client. Now years later they change the address of record and send me a letter saying I requested it. When I called they could not give me details because they did not have any records on my POA. Said resend it on their upload site and request a change of address back, which I never requested in the first place.

Said it would take min 4 weeks to effect. Guess what, their upload site did not work. Said a supervisor could call me back in 24 hours. Meanwhile the duly owed LTC payments are going who knows where. They cannot keep records and change legal records without POA request and will not act on a simple request to correct the records with any urgency. I have to wonder how many 97 year old customers are being treated in this manner without the help of someone young enough to save them.

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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.

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I had a phone call from a lady who said she wanted to 'update' me on some new Medicare information. She did not inform me she was from an insurance company until she showed up at my residence wanting me to let 'them' in the gate. I told them I wish she hadn't lead me to believe she was from an official Medicare place or I would never given them my address. Once I inquired what changes she wanted to discuss and she replied Open Enrollment. I informed I was done, already enrolled, she hung up on me. Bad business practice all around to lead a prospective client that you are one thing you are not.

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I invested $40000.00 on Bankers Life mutual fund 08/01/16. By 09/01/16 I had lost $1799.45. These people are a bunch of thieves. No legitimate fluctuation could have caused this. Of course no callback from my agent. Do not invest with this company!!!

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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.

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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 butthole. Seriously.

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This lady called my Mom last week and told her there were some changes to Medicare that they needed to come talk to her about. I come home today and find out two people from Bankers Life insurance were here today while I was gone at work trying to sell her life insurance and trying to get her financial information. Well luckily my Mom does not do anything without having me check it out first. Really makes me mad that they are trying to pawn off their overpriced life insurance on Elderly people and giving them the impression that they are from Medicare / Social security to get into the door.

Had she known from the beginning who they were and what they were doing she never would have let them in the house. You can best believe I called and gave them the what for. Also called the Sheriff’s office and let them know what these parasites are up to. Not to mention a letter to the BBB and I'm fixing to call the people they work for. I doubt they will care. Damn insurance people are about as bad as used car salesman. Kendra ** and Chad ** from Bankers Life Insurance in OKC.

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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".

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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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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.

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I have had this life insurance since June of 2014, and I am very satisfied with it! I have upgraded my coverage by $3,000.00 just this last month!

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I have had no interaction or follow up from Bankers since I bought the policy. There has been no contact from my agent to see if I need any more information or even another policy or revision to the existing one. You pay your premiums but do not hear from Bankers life. I have 2 policies: Life and Short Term Disability. Although I was able to purchase Short Term Disability Policy, I was declined for a long term disability policy - does not seem to make sense. Have not had to access either policy and have had them for over 2 years and applied for the 3 policies at the same time.

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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.

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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.

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Very easy to get and very happy with the premiums. I was actually able to write my policy for myself and greatly detail exactly what I wanted as far as specific riders. It makes me feel good that my policy is with a trustworthy company that has been around for a while.

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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.

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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.

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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.

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My parents purchased Bankers life nursing home, Home health care and assisted living insurance and paid premiums for over 20 years totaling over $200,000. They never collected a dime of benefits. Recently my father, who is under home hospice, was denied home health care coverage because there was some exclusion in the policy that said he didn't meet the "need" requirement. Come on he is dying? He asked me to make sure I warned other people about this company and the insurance agent's practices. These people are criminals in my opinion.

Bankers Life & Casualty Life Insurance Company Profile

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
Website:
http://www.bankers.com/