Bankers Life & Casualty Long-Term Care Insurance

Bankers Life & Casualty Long-Term Care Insurance

 3.8/5 (143 ratings)
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About Bankers Life & Casualty Long-Term Care Insurance

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Bankers Life sells term, permanent and universal life insurance policies. Term life insurance covers policyholders for 5, 10 or 20 years, and the whole and universal policies provide coverage for life. Permanent policies automatically include individual riders. Customers must speak to a local representative for quotes and coverage options, then apply with that representative. The company does not let customers apply online.

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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Dec. 6, 2022

My father left this policy so that my mother would be taken care of after he passed. Her original paperwork and interview was conducted by the case agent in Virginia. That was the last time I was able to talk to her. Customer service is handled in India or someplace. We paid the 90 day deductible which was about 20,000 but their payments did not kick in. They picked almost 2 months later for their start date. After many calls in which none of their representatives will answer a yes or no question, we realized they wanted a write up from her doctor. Denied! After many more phone calls realized they wanted a write up from my mother's retired doctor. Hunted down the doctors that had taken over his practice. They printed out the original documents. Submitted them two times. Denied!

They needed a plan of care from Service from the original start date. (By the way there is a 27 day wait period between every submission.) Final denial because now they have made the maximum payment for this timeline which they have now completed on the wrong start date, so now I am required to take an extra $10,000 out of my mother's account. This is not what my father wanted. My mother could never have navigated this on her own. Please find a more helpful company to buy your long term care insurance from. If this was for her retirement home instead of her health aide, she would be homeless.

3 people found this review helpful
Rated with 1 star
profile pic of the author
Verified Reviewer
Original review: Nov. 17, 2022

This LTC group is HORRIBLE. In our case, as many others I have read of online, BANKERS LIFE LTCG has dodged and stalled qualifying the policyholder for their benefits. It seems to be a FAME, with the elderly policyholders' life potentially hanging in the balance. According to Bankers Life LTCG, they simply "didn't/don't receive" providers' faxed/emailed notes and invoices. Even when these providers send them OVER AND OVER, 3 TO 4 TO 5 TIMES. It's always the same phone call...They apologize up and down, yet DON'T FIX THE PROBLEM. Even many of the health care providers used cannot stand them and see the runaround game they are playing. Avoid them at ALL costs!

My parent has completed the "90-day, out of pocket waiting period," yet they are dragging their feet and somehow "NEVER RECEIVE" paperwork. The amount of stress caused by their hamster wheel ** could definitely lead to the demise of an elderly person, if they had to deal with these matters for themselves before they would be able to collect on their policy. Could that be their goal? They are in the deflection, confusion and distress business. My parent DEEPLY regrets the day they signed their sham of a policy. Look online - there are/have been MANY CLASS ACTION lawsuits against this co. WE ARE NOW LOOKING TO LEGAL ASSISTANCE. RUN, DON'T WALK!

3 people found this review helpful

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    Rated with 1 star
    Verified Reviewer
    Original review: Nov. 14, 2022

    My aunt had paid in over thirty years...over $200,000. When it came time to use home care for her, I had to resort to calling my state Attorney General to help. According to her policy she had over $609,000 available, but since she could feed herself and wipe herself she could not use her money. Yes, she could put the food in her mouth, but she could not cook it nor carry it as she uses a walker. Yes, she could clean herself after she voids, but she could not get to the toilet alone. But Bankers said she was fine alone. The doctor ordered 24/7 care, but we couldn't even get an hour paid for. That is, until my Attorney General helped. Bankers was rude, unhelpful and disrespectful. Avoid this company at all costs.

    6 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 11, 2022

    Their Customer Service when calling their 800 # is extremely frustrating. We have been told different things each time we call to cancel mom's long-term health insurance. She is 96 years old and diagnosed with Alzheimer's. Even with Power of Attorney, they want mom to personally sign a cancellation letter. OMG, so we did that. When I asked to speak to a manager, no one is available. I requested a call back. I was told manager Jean ** would call me back same day. Nothing, no call back. Mom was paying $200 monthly for 20+ years and when she could finally get help through this insurance (home health care), the agency charges so much that it drained mom's investment money. We have to sell her house to afford her care. THIS COMPANY IS A RIP-OFF. DON'T BUY LONG TERM HEALTH INSURANCE.

    6 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 6, 2022

    The policy in question had been paid on time for decades. We went to claim on long term care for two elderly people. The experience was and still is abysmal. Everything takes 10 business days. Everything. They use contractors to do assessments but they appear to have no idea who those contractors are. It took a month after the assessment for the paperwork to appear and then only after multiple calls and follow ups. They take no responsibility for anything. Even when the action is on their part. They have found a number of administrative reasons to delay payment to the point where it became a financial burden.

    Escalation of anything is an exercise in extreme frustration and their second level “supervisors” are aggressive and extremely unhelpful and will go so far as to tell you that you are “lucky” to have a policy with them. A month and a half in and they just paid the first payout on a policy with no waiting period. Even that was not the full amount. Avoid at all costs.

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 31, 2022

    My mom has dementia and has been in nursing care since June. She became qualified mid September. She spent a few weeks in skilled which delayed the three month period. Since that time they first only paid a small portion and were behind. Each time they said paper work was not filled out properly or they did not receive it. Finally after multiple calls and threats they caught up and she received money just before my dad ran out of money. This facility is small and is familiar with the paper work and what is needed. It Starts again. They say they have not received the paperwork. My sister has been involved but now I will. I will report them to the Kansas Insurance commissioner and going to start calling the local television stations. I know they are lying. They need to be investigated.

    12 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 23, 2021

    I "ditto" all the issues that people have written Consumer Affairs. Bankers Life seems to need more and more information and threatens to close my request for benefits. When will it end? Their client service agents are polite, but not skilled, and you really need to talk to someone higher up to get true information. Do not believe their client service agents, your claim being "approved", just means you are eligible to file a claim. They don't have "everything" because they will have another request one week later. They work with faxes, so don't expect efficient emails. They will not copy you on requests to providers, yet you are responsible for making sure Bankers has all information. It requires hours and hours on the phone.

    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 9, 2021

    Banker’s Life refuses to accept bills from a nursing home saying over and over that the forms are not filled out correctly. They are a nightmare to try to work with. Do not give them any money. They only want to keep what has been deposited with them and not return it to the client.

    16 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 30, 2021

    I purchased a long term care insurance in 2015. Unfortunately while on a trip on July of 2019 I suffered an acute ischemic stroke and became handicapped for life. After two years of endless Physical Therapy, Occupational therapy, Speech therapy, Vestibular Therapy sessions I suffer from all ADL,s plus neuro cognitive and memory issues.

    Since day one I have had a struggle with first getting approved. Fighting with them daily from August 15 after I was finally released from the hospital after 14 days and two major surgeries to approve my long term claim. I needed a caregiver since day one of my stroke (paid out of pocket). The first check I saw from them was in October. Three months of telephone calls and frustration. I have been harassed time and time again. Crucified by them. They have not paid me for a year of services. Each time a different excuse. I have appealed my claim more than ten times. Each time taking two to three months. I am sick. I am on medications. I am on antidepressants and Bankers Conseco killed me this past year. They are ruthless. Heartless. Even though I have brought them countless letters from my attending drs that I Am chronically ill That I have issues with all ADL’s they still find a different reason to harass me and not pay my caregiver.

    They have put me through hell. They have roasted my heart and soul and in addition they cancelled my insurance even though I paid for it with no reason at all. What a waste of my precious money this past 6 years where I blindly paid them. I have already spoken with an attorney and I will start taking proper action. I have given them way too much time and opportunity. Main point for G-Da sake do not purchase a long term insurance from Bankers, Bankers conseco, Washington mutual. All are the same company. Different names. Same waste of your money. I have cried so many days because of them.

    23 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Feb. 24, 2021

    My two sisters and I have spent countless hours contacting Bankers Life about our mother's long term care insurance. We have made I'm sure, more than 50 phone calls to them trying to get payment for my mother's care in an assisted care facility. As so many others have found, they delay and delay, and stall using many different tactics. Most often they say they have not received the documents even though we know they have been sent. Phone calls are not returned and promises to resolve are not kept. They will do anything to prevent paying out! Stay away from this company.

    31 people found this review helpful
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    Bankers Life & Casualty Life Insurance author review by Matthew Brodsky

    Bankers Life & Casualty offers a complete range of coverage packages for the elderly, including Medicare supplement insurance, supplemental health insurance, life insurance, annuities and long-term care insurance.

    • Comprehensive long-term care insurance: The company provides comprehensive coverage for both nursing home facilities and in-home health care expenses.

    • Facility-only long-term care insurance: Bankers Life & Casualty offers coverage for costs associated with long-term care facilities, nursing homes and Alzheimer’s facilities. The company offers both short- and long-term care options in a variety of settings.

    • Medicare supplement insurance: Customers can purchase supplemental coverage to lower out-of-pocket costs and travel expenses related to care. The company has plans that let you keep your doctor and visit any hospital.

    • Retirement planning: In addition to its long-term care insurance products, Bankers Life can also assist with life insurance and annuities to help secure your financial future.

    • Get a free consultation: Talk to an expert long-term care insurance agent to find the right solution for you.

    by Matthew Brodsky Insurance Advisor

    Matthew Brodsky is an established expert on insurance, having written hundreds of articles and other pieces of content on the subject, interviewed countless practitioners, and attended dozens of conferences and events. He served as an editor at industry magazine Risk & Insurance for six years.

    Bankers Life & Casualty Long-Term Care Insurance Company Information

    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:
    www.bankers.com