Consumer Complaints and Reviews
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!!!
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.
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.
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.
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  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.
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.
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!
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.
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.
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.
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.
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.
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.
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 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.
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.
I worked with Bankers Life and Casualty at its branch office in Laguna Hills in 2010. It did not work out and a year later I am billed for $510. I respond to the bill as it went to collections and had them investigate the situation. My supervisor crossed my ID out from the policy on a client. Bankers ceased all further collections efforts and told me that they would close the paper trail.
Years later I find the same collections agency still on my credit report and Bankers tells me they have asked the collections agency to close the account. It's been years! That damaged my credit report and score. I asked for an offer in compromise and although they admit their negligence may have damaged my credit score and reports, they are not inclined to pay statutory damages. Now, I will be taking them to court! Take it from somebody who worked with the company and came out the other side more damaged than going in. Do NOT give your business to these folks!
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.
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.
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.
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.
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.
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.
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.
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.
I made an appt. with an agent a month ago. He did not show up. I called him & he said he was held up with his 1st customer. For the past week, I have called to try to have an agent contact me, to no avail. I was on the phone almost all morning with another issue. They paid $1.81 on a claim. I pay over $400/month for the supplemental ins. & think this is an insult. I had to pay $36.40 on the same claim. So I do want to change my plan. Now I will have to change companies as Bankers Life is not interested in helping me. My husband also has a supplement ins. policy with them, and my brother & his wife. I think it's sad that we can't review our policy because Bankers Life has no interest. They should not have not signed us up in the first place rather than string us along. Now I will call other companies, and they have lost 4 policies.
"I want to talk to someone who speaks english", "jhwuegwgeluf". "I want to talk to someone who speaks english", "Hord."
20 minutes later I find the local number, and call the Palm Beach office. I had asked for some withdrawal forms and they had send me the wrong ones. Promised to send correct forms today (office is 20 miles away and post office 1 day). 2 days later no forms, try to file complaint with Bankers and get this: "Server Error in '/' Application."
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!!!!
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.
Bankers Life & Casualty Life Insurance Company Profile
- Company Name:
- Bankers Life & Casualty Life Insurance
- Year Founded:
- 111 E Wacker Dr Suite 2100,
- Postal Code:
- United States