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My mom died in August 2019, and I have been dealing with these people since then. The local agent n Florida was never available when I called, but I was reassured for over 3 weeks that he would call me back within. 48 hours. Nope. Called the company, they sent a check to the estate of my dead mother, but since there is no account in that name, it was invalid. They told me to send the information with my name, and they would send it. They sent the same thing! Both times I had asked if they needed a death certificate, and they said no. The last time I called they said they needed one and a form needed to be filled out and notarized. I sent it in a month ago, still no answer. I called today and they said they have no record of her contract. These people are the absolute worst. They abuse people in crisis, and they do not give a rip about it.
I am working with Bankers Life (BL) as my mom's power of attorney, processing claims and reimbursements for approved home health care. Well. expect to have your claims REJECTED with canned verbiage as to why. I'm on month number 4. 4 claims placed with all the required documentation, and BL Rejects. Try calling customer service you say. I've phone in many times trying to get more reasoning than the canned form letter verbiage of what I'm doing wrong on the claims (likely nothing). Well BL customer service will be HAPPY to read you, verbatim, the language from their form letter with NO FURTHER detail no matter how many times you ask. Escalate to a supervisor you ask. Tried that too, nope no way can you get anyone other than the person who originally answered the phone.
Avoid this company at all costs. Get refunds for all your premiums NOW, and look for a much better rated company. I'm a telecommunications executive in my late 40s. My mom, 82 yrs old. If my mom was trying to fill out forms and get a claim approved much less reimbursed, she'd be dead a decade and OUT all her premiums AND dead broke since BL won't ever reimburse you no way no how. Next stop is calling the local news station and get more spotlights on this company and its shady business practices.
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Their customer service is beyond awful. My father passed away 9/12/19 and the local agent cancelled his policy as of 9/1/19 even though a death certificate was provided. None of his medical bills between 9/1/19 and 9/12/19 are being paid by insurance that he has paid a monthly premium for for a very long time. I have been trying to get this resolved since learning of the cancellation. As of today, 11/18/19 it has yet been resolved. Every time I call (more than a dozen times), I get a different person with a different answer. They refuse to assign my case to one person. I have spoken to one manager who did nothing to help me. I have not received one phone call back or follow-up call back or any correspondence informing me that they are resolving the issue. I would never recommend this company to anyone.
My 90-year-old mom has paid premiums for years on this policy and yet when needed, they have covered every possible exception to deny and delay any reimbursement! The first time I submitted a claim it was denied on the basis her in-home private caregiver was not certified through the state. Now she has been in a memory care facility, paying out of pocket for 96 days as of this date of 8/2/2019....which would be 96 days. However BL is denying 5 days in the hospital and subsequent 4 days in rehab. She still payed for all days at the facility, but BL denies paying citing they do not pay "bed reservation" days! So not only was she paying out of pocket for the facility, but also the rehab days at $170 per day! This is wrong. And I want to know what Federal or State agency will take complaints on this.
Both parents had and used long term care insurance to be reimbursed for independent caregivers. We briefly used a caregiver company suggested by the Bankers Life agent, Visiting Angels, that was unsatisfactory due to poorly managed and poor quality caregivers. IF not for me, their son, I believe they would not have been able to be reimbursed for their caregiver expenses as they would not have been able to deal with the extreme stalling tactics employed by Bankers Life.
My story: It took 10+ phone calls talking to a different person each time, multiple letters containing requested documentation, extremely long turnaround times to get an answer, to start getting paid. Then some claims would be denied for various bogus reasons, such as my father signed the check to the caregiver, and your mother should have signed it, SERIOUSLY, this actually happened! Their standard answer when I asked how long it will it take until we see a check was, "Well, it takes 30 days from the time we approve the claim to send the check out". What they ALWAYS neglected to add was they didn't know how long it would take to approve the claim AND then it takes a week to put it in the mail, then it takes a few days to reach us.
In other words, they can stall, and stall, and stall they did. After months of back and forth, literally hours on the phone and providing various written documentation, not to mention the extreme frustration I threatened to complain to our state insurance commissioner, magically, they started to be more helpful and we started to receive checks. Ultimately they put me with a 3rd party online caregiver hours reporting system that did work well. Why didn't they do this in the beginning?? Ultimately, we were reimbursed for our caregiver expenses but getting there was extremely difficult, to say the least. My parents would not have been able to navigate it.
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My father had three policies with Bankers Life. The first issues we had were with Convalescent Care. First they didn't want to honor the policy, until my father fought it. Then, later I had problems. It seemed they were deliberately trying to keep from paying, as they would not communicate with me and would not answer calls from me or the facility. They skipped out on paying several thousand dollars. Then I found out the agent gave me incorrect information that could have cost me several thousand dollars if the IRS had not been forgiving. Now I am trying to resolve another issue and was told it WOULD be resolved last Thursday, then last Friday, now I am being told it SHOULD be resolved this week, but they don't know when for sure. I asked why I was not told this. No answers. No offer of help. When I finally stated I would be contacting the BBB I was told they would have someone contact me. Been sitting by the phone waiting. Nothing. Lied to again.
PLEASE PLEASE DO NOT WASTE YOUR HARD EARNED MONEY ON THIS COMPANY. It is heartbreaking that my father passed away with him thinking Bankers Life was taking care of everything. I had to lie to him that all was well to give him some peace of mind as he lay dying. He put so much faith in this ridiculous company and paid in tens of thousands to them to have a secure senior life for my mother and him. Take away point: as my East Texas father would say in that slow drawl; "You would do better to stuff your money up a hog's bottom than use Bankers Life". Thousands of dollars paid out of pocket for long term care for my parents. Always one more document needed and zero payout from Bankers Life. Always sent requested docs posthaste. They sell not LTC, but sadly, a false sense of security.
If you're looking for LTC insurance DO NOT CHOOSE BANKERS LIFE. If you're in the unfortunate position of either attempting to get BL to pay on a policy or acting for someone who has a policy GET AN ATTORNEY IMMEDIATELY. I hold my father's POA and have been representing him for 5 years and it takes monthly multiple calls to BL, monthly multiple resubmissions of documentation and frequent referrals to our attorney for BL to fulfill their policy agreements. Perhaps profitable for stockholders and CEO but appallingly poor service for policy holders.
When submitting Whole Life policy information (application, policy, "congratulation" pay off letter) to Bankers Life & Casualty customer service 800-525-7662, they told me they have no record of existence. Just wanted to warn others that policies taken out on their newborns will most likely be "lost". Put your money in a savings account for them. Most children are not aware of (60+ years) existing policy OR paperwork will be lost on such policies. Ultimately this is what B&CL is counting on. Either way, policy will not be paid. Policy pay off letter signed by Frank ** at Bankers Life - Oct 1975.
My mother paid huge monthly premiums for many years, now she is dying and livening in a skilled nursing facility so I have been trying for 6 months to get them to pay on this policy but they keep finding excuses not to pay. For the last 3 months I and my Mother's Dr. office have faxed, uploaded and called in the requested information but then every time I call they claim "they have not received any documents"!!! They gave us the fax number to use, and we verified the number (faxed it again X3) then uploaded the documents to their website - as they instructed (we did this X3). Finally the Dr. called and gave them the information & resent the forms.
Then the Nurse called the following week and was told they received the documents except 1 page, so she re-send the missing page. I then called the following week to check on status but was told that they received... NO information at all!!! The people are crooks. They just do not want to pay. People can't be this incompetent without actually trying to be that bad. I try to speak to a supervisor and am told "someone" will call me back, which does not happen. I ask to file a complaint and told I have to "mail them a letter" --- which I'm sure they will lose too! Do NOT purchase this insurance. My Mother's Dr. office tell me they have had lots of problems with this company many other times. This should be illegal.
Bankers Life & Casualty Life Insurance expert 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.
Best for: Parents, retirees and the elderly.
Bankers Life & Casualty Long-Term Care 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
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