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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!
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.)
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."
My mother purchased a long term care policy in 2002. She added my Dad to the policy. By 2006 they could no longer afford the premiums and they let the policy lapse. They had paid $11,000.00 in premiums. Both of my parents are now deceased. Prior to my Dad passing in January of 2019, he had told me to check this policy to see if there was any money in the policy. After he died I found the policy and I can't believe what they were sold. Based on what the policy covered I knew that she had been scammed.
She was 71 and Dad was 74 when the policy was issued. I vaguely remember when they got the policy. They told me that they had gotten this policy to protect their assets and to ensure that they would never be a financial burden to me and my family. After reviewing the policy I found that the coverage would barely pay 1/3 of the actual costs of long term care at a facility. My issues: 1) They were sold a policy that was not appropriate for their age. 2) The policy was unsustainable due to increasing premiums 3) The actual policy would not have covered the costs of long term care. In my opinion they were scammed out of $11,000.00.
There needs to be another class action lawsuit (CAL) filed against Bankers Life & Casualty. Hope Evans and Evans Law Firm will initiate another (CAL). If you care enough about yourself and your love ones, please do not chose Bankers Life to handle your future financial needs/affairs. This company has shown repeated discrimination among its policy holders.
How do I know? I know because I know other policy holders whom Bankers Life treat w/ higher esteem based upon the perception that they are **. We're in the same support group because we have aged parent(s) w/ policies from BL. They can show me on paper how their claims are opened with no hesitation from BL. They can show me how their claims are paid timely on a weekly basis. I on the other handle can show them how my loved one's comparable claim gets denied. And I can show them how when a claim is open after an appeal battle, how Bankers Life does not send timely reimbursement.
Customer service is not good. They're always ambiguous and elusive. I am surprise this company is still in business. I am taking this review to social media... especially Facebook for buyer beware concerns. I hope the president of this company (Scott Goldberg) will review how they conduct business and ensure equality across the board.
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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.
I dealt with a local agent here in the Midlothian, VA office by the name of Robert **. I had liked our initial interaction and information he provided and filled out an application which included my bank information. That same day I told Robert ** I had changed my mind and not to move forward with submitting my application. He submitted it anyway and I just realized I have been charged for the policy anyhow. You may ask why I changed my mind about doing business with this company, it was from reading the reviews right here on this site.
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.
I purchased a life insurance policy from this company in 1998. I was told it was a fixed plan, meaning the price of the plan would never change. $24.79 has been drafted out of my account ever since. I received a letter from this company a few days ago telling me"Final notice: This policy is in grace period and will lapse on January 25, 2019 unless amount due is paid. The amount they are telling me I owe is $1,764.21.
They are now telling me it's flexible premium adjustable life. I wasn't told it was a universal plan when I purchased the policy, if they had explained that to me I would never had purchased the policy let alone made payments for over 20 years. Also I found they have been charging me for a rider for one of my children that is now 33 yrs old. I've spoken to the company and as far as they are concerned they did nothing wrong. Beware that's all I can say. Also it's funny they didn't take a payment for December 2018 this after they sent me the correspondence. Being that far behind so they say, why are they just now telling me all of this.
My father had a Long Term Care policy with Banker's Life & Casualty. They finally issued checks after he had passed away. After some time had passed, and my brother passed away, I found an uncashed check from his policy dated after my father's death. I contacted Banker's Life and they said to send them a letter to their Policy Benefits Dept with documentation to establish my relationship. I did this. They confirmed receiving it, but told me to contact their Abandoned Property Section, which I did, but never got a callback. Called again a few days in a row. Finally, submitted an email to them, with the Policy #, dates of the checks, and amounts of the checks.
They want the Check #. So I called Banker's Life again to get that information. They tell me that they need documentation to give me any information. I explained that they already have that information. They put me on hold many times, then tell me that my original letter only requested the one check's information, but that they could not give me information on the other two checks. This company is nothing but a ** and doing anything to avoid paying or reissuing the original checks. At this point, I threatened them with legal action. Bottom line, avoid this company at all costs. They are a bunch of crooks!!!
I received a letter from Bankers Life & Casualty Company stating that my cousin, of whom I am legal guardian, had money coming from a policy that our deceased aunt took out for him. I submitted all of the papers and documents that they asked for and they sent me a letter saying that the funds had been sent to abandoned property. I contacted abandoned property and have heard nothing; 30 days. The website they gave me does not work. I would not take out a new policy with them if they won't even honor a less than $500 pay out that was issued in the '60s. Are they still in operation. The letters I received are typed in a font that looks like a manual typewriter. Still waiting for claim pay-out. I began the process over a year ago.
I turned 65 in July and began in January of this year to research my medicare supplement options. I have selected a supplement at this point but am still receiving calls, etc. Yesterday while I was working an agent from this company visited my home. While I am working my neighbor looks after my home and my dog. She has several dogs as well and apparently they were all creating quite a ruckus. She looked out some windows to see what was going on. She saw a woman in my backyard. This is disturbing on several levels. I think we all would probably agree that front doors are fair game for solicitors and such. However, fenced back yard are a different story in my opinion.
My backyard is surrounded by a six foot high privacy fence and secured with a steel built gate. I keep a lock on the inside of this gate so I am able to determine who comes and goes. Yet there is a woman standing at my back door, storm door open with her hand on the handle of the inside door when my neighbor calls out to her. My neighbor inquires as to how she got in the yard and she giggled and said she came through the gate. My neighbor thought perhaps I had forgotten to lock the gate as it was trash day. She checked the gate and the lock was still engage on the latch. This woman had forced my gate. My neighbor challenged her and she said she had not forced it, she had just used the latch to come in. Not so folks.
Her presence also disturbed me because my neighbor had tethered my dog in the backyard. She had torn her ACL several months ago and she has been crated or on a short tether to limit motion during this period. The presence of a stranger in the yard got her riled and she was pull and jumping while tethered and re-injured her leg to the point she is not weight bearing. I call this woman last evening and she denied forcing the gate. I'm mystified by this. She couldn't get the gate to close as she was leaving because the LOCK was still on the latch. It was a singularly unsatisfying conversations.
Today I called her office and asked to speak with the person who supervised or managed her. I related my story and was asked if I had seen Barbara? I said no and was told she was tiny, frail, and shy and could never force a gate. Really? There she was in my yard, at my door with the lock still on the gate. There was no apology and he asked what I wanted him to do. Again, really? Perhaps remind your folks not to trespass on people's property. Remind them fences and gates are there for a reason, to keep people out. This was a cold call, I did not request a visit nor did I receive a call to schedule a visit. However, I will be out a fairly tidy sum to fix the gate and provide additional treatment for my injured pet. These people both practically called me a liar. Horrible way to do business.
Willie ** obtained a life insurance policy with Bankers Life and Casualty Company and signed the medical authorization form. He passed away 3 months after he obtained his policy and it was investigated as to be expected. The first denial letter that was issued by Bankers stated Mr. ** answered one of the questions on the application incorrectly. The letter next went into the great feat of how Bankers obtained Mr. ** medical files. Then at the bottom they state Mr. **’s policy is null and void. It took this company another 90 days before they disclosed and actually decided to use the medical records to identify what medical condition Mr. ** misrepresented.
I filed a lawsuit against Bankers on February 14, 2014 but it was dismissed for defective service of process. I appealed it and the ruling was affirmed on June 29, 2016. I refiled on August 10, 2016 and the case was removed to federal court on September 15, 2016. Sarah ** of Turner and Padget moved for summary judgment citing statute of limitations. Summary judgment was granted on June 23, 2017 by Judge **. This summary judgment was granted without this case going to discovery and without a jury deciding discovery rule tolling.
When the Judge ** issued his order, he alleged that I had waited over 2 years and 8 months before I filed a lawsuit. This is when I realized that the prior court pleading was never presented to the court. I submitted a judicial notice but Judge ** ruled that court pleading are evidence and it was too late to add this prior court pleading to the court records. Court pleading are allegation made in the court complaint and are unverified and unproven. Judge ** is suppressing this prior court pleading to keep his erroneous summary judgment in place. This benefits no one but Bankers Life And Casualty Company.
Over the past few years I have been speaking with both of my parents about preparing for what the future has in store for them. After doing tons of research on what was necessary for aging people to have set in stone before retiring I had made a list of what they needed and checked it off as we addressed these needs. Life insurance, medical coverage and income was a must! As we started checking into these more closely we found out we needed a lot of help. An agent from the local office had called several times to come out and sit with my parents to "review their Medicare options" and they finally agreed, mostly so they would stop calling.
I decided to come over and sit in on this to make sure they wouldn't get scammed into something they didn't need. Now I am glad they were so persistent! The lady came out and went over a lot of information and explained the major areas they specialized in. Just by asking a few questions in those areas got my parents thinking they didn't really know the answers. She asked a few questions about their life insurance and she uncovered their life insurance policy was only until they retired and ended or the premiums almost doubled which was stated in their copy of the policy. She asked a few questions about their medical coverage and their concerns moving into Medicare.
My dad was able to pull out his handbook for retirement coverage offered by the company so she was able to explain their coverage (in simple form) and compare it to the other products that are out there in hopes of giving them better coverage or save them money, which she did! They ended up saving almost $200 a MONTH in premiums by opting out of group coverage not to mention almost completely eliminating their out of pocket expense. Instead of signing up right away we asked if we could take some time to time over the options as a family and get back with her but she insisted she at least schedule a follow-up appointment and call the day before to ensure it was still a good time. She asked if we had made any set plans for long term care and explained that Medicare NO longer covered it like they did for their parents if it was needed.
Finally, she ended all the questions with a few on their current and future income (which I did not like at all). Why did she need their net worth if we were talking about medical coverage and life insurance? The entire time she sat with us she took tons of notes as if she was about to take a test or something which made me a bit curious. On her follow-up visit with the three of us I found out why! She came back with even more information but this time I was ready to take notes. We pulled out all the information like we did before and she was able to point out the flaws again and marked each one with a tab so we could address them as we got to that part.
First, we covered Medicare again so my dad pulled out his notebook and showed her he actually crunched the numbers and they compared note, which both decided not participating in their group coverage would be best for them both and save them about $2400 a year in premiums, eliminate their co-pays at any doctor except $20, eliminate networks altogether and reduce their cost of prescription medicine. Next, she wanted to addressed their life insurance concerns. She opened their policies again and showed them that the money they were saving on medical could be used to keep their life policies in place after retirement OR take the money inside of it and put that into a completely different policy outside of the company that would have the same face value with just a small increase in their current premium because they were much older and it wasn't group life insurance.
We all had already agreed that keeping the group life insurance would be a waste of money so we agreed to look at her options (she even had some from other companies to compare it to). The other companies were very similar in price/coverage with slight deviations so I asked if she was a broker for them and she explained she was just trying to provide as accurate information as possible and she actually knew people with the other companies which were happy to help out. Then, she wanted to address the fact that we had not made any plans for long term care for either of them. Both of my moms' parents and her brother needed facility care and she knew it would cost most, if not, all of their savings and investment if one of them needed care for an extended amount of time.
After my mother expressed her concern on the cost the agent was able to show us a spreadsheet she had put together to show a timeline on how long their money would last if one of them needed care and then another one if both of them needed care. We all reviewed the sheets and after some calculation my dad did quietly in the corner he spoke up and told the agent to quickly get the process for that coverage started! He told her they worked very hard for their money and would rather spend it on living life not waiting to die in a home of some sort. Which brought her to the final area. She wanted to address his last statement in the means of introducing her "business partner". She explained the majority of her clients were concerned with ensuring their money outlive them not them out live their money.
Her business partner was a financial adviser that sits with clients who have this exact concern and in most cases are able to help them out or at least guide them in the right direction. Our biggest question was cost for him to come to us and review their situation which she explained, "It was a complimentary service we offer to all our clients with these concerns but in the long run it might cost us some time and tea." In conclusion to this long winded story, I have read numerous reviews about this company and decided it was time someone spoke up that had a good experience with them. If it wasn't for this agent at Bankers Life and Casualty we never would have known about all these issues we were going to face in the event of one of them getting ill, hurt or even dying. People always speak louder when upset and usually don't tell the entire story and that is why I made sure to include as much as possible.
I urge you to reach out and speak to someone that will actually come and sit down with you. Someone that will listen to your concerns and address issues that will eventually be a burden on your family. But be cautious. Make sure they are experienced with the company and have some time under their belt so they are established and not just someone that will only be with them for a short time.
They add clauses without letting you know they borrow money from your policy to pay two or more years of your premiums, without writing you to say your policy is in grace period when mine was not still taking my money. No one you speak to there can help you who would borrow money from their policy for two years. What if you die during that time you lose policy benefits.
For over 10 years my mother in law faithfully paid her monthly bill to Bankers Life for a home care policy. While they gladly took her money now that she needs it they have fought us tooth and nail trying every trick and stall tactic to not pay her. I guess with her being 96 years old if they stall long enough she will die and not collect. Shame on you Bankers Life!!!
My husband has paid for long term home are since 2002. Remember faithful monthly payments since 2002. In February I tried to get care for him as he was diagnosed with terminal cancer. WELL, was I surprised when they told me I would have to wait 90 days for care. I said he has terminal cancer and needs home care, that is what we have been paying for all these years. I could go on telling you how frustrating and painful these phone calls have been. Bottom line - we could not get any care and this company just made a windfall with our payments. I will tell anyone interested in long term care to take BANKERS LIFE, OFF YOUR LIST. Please read the fine print and whatever insurance you get make your agent is telling you all the fine print that may be overlooked just to get your trust. I wish this review was fake, but I am a living example of buyer beware.
Turning 65 soon and have my insurance needs in place already but I cannot get Bankers Life to stop calling me. They call me every day and an agent dropped by my house told my husband he had an appointment with me which was not true. Then the jerk called and said he was on his way over to see me as he was right near my house. I told him I had everything in place but he kept pushing that he was going to compare products. I told him no again and he would not let up. I told he I am undergoing chemo and I am not suppose to be around people which is true and he still kept badgering me so I said we are not going to let you in so leave us alone.
Then today I get a call and a lady says one of their professionals was on their way over to compare products so I had to tell her that if anyone showed up I will call the police as I have repeatedly told this company to stop calling me. We are on a do not call list but Bankers Life does not care. I called the State Ins. Commissioner's office and filed a complaint. I then called our local news station and asked them to review the pushy sales efforts especially since I am battling cancer, undergoing chemo and do not want people dropping by to sell me stuff so they can get a commission.
I called the Bankers Life local office and the only options available are to buy policies. I finally got a human who said she would put me through to customer service and all she did was put me into the sales line. Two months of these daily calls and sales reps wanting “to do me a favor “ by stopping by are enough. I am giving the local police a copy of the Insurance Commissioner complaint and this complaint and if anyone shows up again I will call the police.
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.
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.
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 purchased a life policy from Bankers on 3/18/17 based on $180.00 a month. They took my check and set it up on EFT... Come to find out they took in April $247.74. I tried contacting the numbers that I had and could never get anyone. Another month went by and they took another $247.74 in May. I kept contacting and found a number to call and spoke with a representative that would investigate and get back to me which they never did. From May to September this company debited out of my account $247.74 in lieu of $180. I was told they would apply the excess amount they had withdrawn and apply it to my next payments which never happened. October they finally took out the agreed premium of $180.00.
On 11/11/17 I received a letter advising that if I did not pay $500+ by 1/6/18 my policy will cancel. This is not a reputable business. I work in the property/casualty side and I would never work the way they do. The insurance document is a contract. They never lived up to their end of the contract. I want my policy voided and will go to the Insurance Commission to file a formal complaint against Bankers. I would not recommend Bankers to my worst enemy if I had one - since I don't anyone checking them out DO NOT DO BUSINESS WITH THEM.
I received a letter from Bankers Life stating that I owed 259.00 by the 25th of August or I would be cancelled. I called the local office in Spokane to inquire why. They said that they would send two agents out to go over my policy. When they came out they said that it was due to a loan. Well I said, "Ok I don't remember a loan" but it probably was. The one agent Eddie said that they would have the fraud department investigate. They got them on the line on speakerphone. After giving them all the information he asked if we should wait to pay the 259.00 till their investigation was done they said yes. And to disregard the letter so we did. We never heard back from Edd or anyone in the fraud department to let us know that they concluded their investigation.
The only notification I received was on the 27th of August stating that I was cancelled. I'm disputing not the loan. Let me make that clear. What I'm disputing is being cancelled wrongly because on what we were told to do by the agent period. I need your help in this matter. I would have made the payment if I was told by the agent Edd to do so. I have had this life insurance policy since 1994. Why would I let it go? And they found out, the agent, that I have cancer three months prior that. I was diagnosed in 2014. I would never have not made that payment. I only did because they told me to wait till I heard from them and I never did.
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.
My mother's husband paid for years for a long-term healthcare policy and passed away without collecting a cent. My mother is now in assisted living and is paying the premiums and Banker's Life continues their policy of "denied, denied, denied!" resorting to claims that they didn't receive requested information, or waiting period hasn't been fulfilled or any of a number of tried and true ruses that they've used. This company should not be allowed to operate as it appears their game plan to is clearly to take and never give back. Don't even think about buying a policy of any kind from them.
The nickname for their added health plan is a "cancer" policy. It should be called "just a scam" policy. They not only didn't pay out my policy when I was diagnosed with cancer, they LIED about policies and signatures several times. They even lied in writing to me. Then, they offered to reimburse all of my premiums if I closed my policy. A week later, said they couldn't reimburse me because my policy was closed. SCAM. I would love to sue these people.
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.
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.
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.
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.
Bankers Life & Casualty Life Insurance Company Information
- Company Name:
- Bankers Life & Casualty Life Insurance
- Year Founded:
- 111 E Wacker Dr Suite 2100,
- Postal Code:
- United States
- (800) 231-9150