About CNO Financial Group Long Term Care Insurance
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If anyone mentions this name do NOT do business with them. My grandfather purchased a policy for my dad in the 40s with Lamar Life. In 2016 they sold to Conseco. When my dad passed away in November I contacted them about his policy. It took a while for them to locate it but said they would get paperwork out In about a week. Since I still have not received paperwork I called back to inquire. I am now told they cannot locate the policy and the lady I spoke with previously 'just told me she located it' when she really had not.
I asked to speak with a supervisor and was told my question was not an approved for a supervisor because there was no account. I held on the phone for 43 minutes insisting to speak with someone about the transfer of accounts from Lamar Life and continued to be told no. I will be reporting them to the BBB as well as contacting the insurance commissioner. I have the policy and receipt for every payment on it. I will drive to their office in Nashville if necessary. Sad they can take advantage of people like my mother who needs the money.
I have had life insurance with Conseco for more than 15 yrs. My received a notice in mail that my insurance has lapsed. After having several conversation with individuals over the phone, no one could not tell me why I did not get any notice in mail that my policy had lapsed. They kept telling me that I will get something in the mail. I call on several occasion and finally I got a letter in mail telling I need to make a payment in November 2016 and then again in Feb 2017. I sent the Nov. 2016 payment via mail and a week later, I got another letter telling me that I need to pay for reinstatement fees well over a thousand dollar and that I need to make this payment in a few days. I call and I got some lady on the phone telling me that it's my fault that I let it lapse and that nothing can be done and that if I don't pay then I can forget about the 15 yrs that I put into this policy.
I was furious and ask to speak with a supervisor. She advised me that there is no one for me to speak to and that she can have a supervisor call me back. Here is it, I still have not received that callback from a supervisor. I wonder if anyone can tell me what recourse can be taken as I am thinking that this company did this deliberately so that their customer would have lapsed policy in an event to save the company money. Can someone please help me?
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For almost 1 year no one at this company can tell me why our policy lapsed. I've called almost every month since January and still can't get any answers. They tell me I need to fill out a form and that they have mailed it out - but we never receive it. They say a manager/supervisor will call me in 24 hours - it's been 10 days, no call back. Everyone has a different story to tell and no one can ever give me a straight answer. So the policy we had for over 40 years, may be lapsed and if my father passes away, no insurance payment because this company can't get it straight! THEY SUCK!
For about 30 years, I have been paying my premiums on my life policy by debits to my Bank account that has not changed on all that time. Conseco and now the Company they have named to serve their policies ALLIANCE-ONE SERVICES, INC. have stop taking the premiums without any notice at all or without any reason for the last 3 months.
I have called several times and nobody knows what is the reason for this, nor gives you any information on the whereabouts of your policy, refusing to pass to a supervisor or manager, having you on hold for hours at the time and inclusive saying once, "they do not have such policy". I have sent certified letters requesting reasons for non pulling moneys from Bank, I have sent a cashier check (they have cashed it) for the 2 months and one extra month and till today, I have no response of any sort. We are going to take legal actions on this matter and notify the Insurance Commissioner of the State of Florida as well as all the authorities that have something to do with this matter.
The worst company ever. For over a year I have been trying to get my policy reinstated. I had mailed off a payment that should have be received before the due date. The letter came back to me as a wrong address. I then took that envelope and wrote a letter letting them know what had happened. They canceled my policy but said I could write a letter to get it reinstated. I wrote another check for the next year bill and sent a letter asking for my policy to be reinstated. They deposited the checks but I heard nothing back.
I get a letter in the mail saying my policy cannot be reinstated and they sent me a refund check. The representative for our area no longer worked for the company but a new guy happen to be going around in our neighborhood so we talked to him. He wanted to start us out with a new policy. We had already paid 13,000 into the account they gave us a check for $5,000 and then they think we should start a new policy. Crazy. No way. I got so tired of writing letters and dealing with them that I gave up and took the money and am glad I will never have to deal with them again.
((CAUTION)) I had a policy for about 35 years now. Was 46--(now 69). These people are trying to cancel my policy. They tried-(non payment). I have all payments on account. Now trying to say that I missed a raise payment. Now they have me jumping through hoops--Insurance Commissioner. These people are the worst!!! I have complaint in. I have been recording all phone calls--(legal in Louisiana) (no mention of extra payment! Now going to a Attorney. (They have been changed to (Insurance Services). Beware these people.
My insurance policy is classified as surrendered. I initially requested a full surrender until I got information telling me that I could have a partial surrender and not lose my policy. A check was sent to me for $7106.68 but I sent it back because I changed mind about full surrender. After going through all the proper channels I was finally sent a check again under a partial surrender. Then I sent a monthly payment of $118.83. Then I didn't receive any more correspondence so I called Conseco and was treated in an abusive manner by one of the management people there. Angel was her name.
I called back and the lady that took care of my case Jamie, who I spoke to the other day told me not to worry about it that my policy was still intact but that was not the case just received letter saying policy was surrendered 2-1-2016. These guys have put me through a great deal of stress and don't know what to do now and I am asking for you to investigate this if possible. Thank you.
CONSECO INS., BANKERS, COLONIAL PENN, WASHINGTON NATIONAL. Caveat Emptor: Beware of these companies. In 1998 I purchased two Life Insurance Policies (Universal Life) one for myself and one for my wife. The original company was Massachusetts General who later sold the policy to CONSECO. I have to date invested about $45,000 in premiums. I received a letter this week informing me that my premiums starting this month are going to almost triple. I called the company and was informed basically my options were to continue the policies at the new rate or take the cash values and surrender the policies. Or to not pay the increase and let the cash values of the policies pay until they are depleted which at the current projections will be sooner than later.
So now at 74 years of age I will probably have no life insurance and probably cannot afford the premiums. They claim this is due to unexpected claims and increasing costs as well as lower income projections from interest. So bottom line is they mismanaged their and my money and now they want me to suffer the loss. I have sent this information to the Delaware Insurance Office and probably will have no recourse. My goal is to make everyone on Facebook aware of this so that they hopefully will not do any business with these companies and suffer the financial loss.
Salesman stated to me the premium will be returned in 20 years or at age 75 on Certificate Anniversary date after turning 75. 75 on June 19, 2015. Certificate date July 1, 2002. Will not pay back until 2016. Many calls and told it is based on 14 years or when 76. First time I have heard about 14 years. Literature and Certificate Schedule state WHEN YOU REACH 75!!! Appears as if they want to use my money for another year or figure I will die before I get to 76.
As with many other consumers we have had a difficult time with this company. It is amazing to see how often insurance companies apparently are able to defraud and or bilk, trick and cancel policies that members have had for many years. In 1995 we received a notice that suggested that a new policy would be a better policy, so not realizing that this company had just been taken over by Conseco, we made the error of trusting the agent, which did know what was happening and either lied or misled us into taking this policy. In later years they began to go up on the policy amount, but they did not tell us this, not even in a letter. They just took it out of the policy value until there was nothing left. Then they sent us a letter saying the policy would cancel if additional funds were not deposited right away. We later found that this company has a history of problematic encounters.
We went to the insurance commissioner who investigated this company and found some surprising things. We’re not sure what the result of the investigation was however a change occurred and we think that this is something that was negotiated. Today we checked with this company and found that they again stopped taking bank drafts two months ago, so again we’re about to go to the mat with this company. It is a shame and there is a special place in hell for these people that run this company.
It appears that they up the price on the policy take the cash value from your policy which results in cancellation. Why? Easy. They don't have to pay the interest on the value of the policy if they raise the price. Many can't afford to pay it. What is really sad here is that we have officials in Washington that will not do a thing to help out people that are being victimized by this company and others just like it. They would rather go and deal with a politically correct situation rather than to do the right thing and investigate the board of directors of this company.
CNO Financial Group Long Term Care Insurance Company Information
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- CNO Financial Group
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