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Bankers Life and Casualty Company


Get ready for the run around

Complaint Rating:  85 % with 182 votes
85% 182
Contact information:
Bankers Life and Casualty Company
United States
My mother suffered a massive stroke in 1975. She is partially paralyzed and is blind on her left side, as well as deaf on her left side. She has no use of her left arm at all. Today it is September 04, 2008. She is still alive and going strong. My mother walks with a supportive brace. In July she was visiting relatives and had a TIA. She fell and broke her good arm, fractured it in fact where she needed surgery. My mother moved in with my wife and I, after my father passed in 2002. After surgery we contacted Banker's. They informed us that with her doctor making the claim, to go ahead and get home healthcare started. We found an assisted care CNA business that sent CNA's to the house to take care of my mother. My mother has been spending $900.00 a week to pay these CNA's. Weeks pass. I began to write and call Banker's. I spoke to an agent who informed me that it would take time to process the forms and that they were waiting for billing. My 70 year old mother began to heal and her good arm was in a stabilizing condition where she had limited use, but still needed a CNA for perry care and hygiene matters, as well as fully clothing herself. My mother use to dress everyday, but now only wears a short nightgown. I call Bankers again asking about payment, they ask about my mother's condition and being the honest guy that I am I tell them that her health is improving. Again I had to wait for payments. Yesterday I get a call from an agent in some office in Chicago who informed me that Baker's feels that my mother's condition wasn't severe enough for them to issue payment compensation. I was informed that my mother had to be in a "catastrophic" state for 90 days before they issue payment for CNA care. And that if I read the Policy that I would've known this. I disagreed and informed them of my mother's past medical history. They never knew she has a massive stroke in 1975, nor a TIA. So now they are sending their nurse to evaluate my mother's condition. So at the moment I feel that my mother and I, who are now out of $6200.00 out of pocket, are fixing to get the "run around" even further.

On the advice of a friend, I decided to look for our state's insurance commissioner office to see if I need to file a formal complaint. I'm also speaking to a health insurance attorney for advice.

Be careful in dealing with these folks. Record all phone conversations with them and document everything. Remember if it’s not on paper it doesn't exist in the eyes of the court and don't forget to date everything too!! Even a large yellow notepad, with just dates and incidents can be used in court.

I went online to see if anyone else had problems and I'm glad I went online to read what I found here. It seems like the only way to get things done is to attack them legally. Bankers needs a rewrite in their policy and own up to helping people.

In truth I'm just disappointed... and pissed.
Complaint comments Comments (73) Complaint country United States Complaint category Health & Life Insurance


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D  25th of Sep, 2008 by    0 Votes
If you have a claim on ANY policy you chould read your policy through thoroughly first. That is just plain common sense. If your mother has a tax qualified plan it is there in black and white that she has to be down for 90 days. That is the IRS NOT the insurance companies rules. If you have a problem with that kind of plan take it up with them. It is your right to be upset it is your responsibility to to do your homework bvefore you open your mouth and make yourself sound like an ###.
A  28th of Nov, 2008 by    +1 Votes
The Bankers Life & Casualty Company's Better Business Bureau Accreditation has been REVOKED, effective Sep 2008. See: http://richmond.bbb.org/WWWRoot/Report.aspx?site=85&bbb=0603&firm=33000697
A  1st of Dec, 2008 by    0 Votes
Boy, first Thomas Recruitment on CareerBuilders, now this on HotJobs...

How long before all internet jobsites are funked up?
N  21st of Jan, 2009 by    -1 Votes
Actually Bankers life is a proud member of the better business bureau,
I work for this great company in Milwaukee, do your homeowork, before you make incorrect comments on a Company that does a lot of good for people.
N  21st of Jan, 2009 by    +2 Votes
ACTUALLY, Bankers Life has been REVOLKED from the BBB. Maybe you are the one that should do your homework?! :)
N  8th of Feb, 2009 by    0 Votes
Banker's Life contacted me by getting my information from a resume for "Customer Service" not Sales through indianacareerconnect.com, the website the state of Indiana uses for people who have filed for unemployment claims and looking for work.

One of their recruiters called me up and I went in for an interview. I gave them my resume and didn't even fill out an application and this guy was acting like I was just the material he was looking for and how I could make 80K a year. I could smell the snake oil rolling off his lips.

I gave him the okie-dokie and told him it sounded like a marvelous opportunity and I had a couple of other appointments yada, yada, yada… The next day they contacted me for a second interview at my home number (they got the answering machine), on my cell (they got my voice mail) and my email address. You know it's a set-up when they pester you that much. That really creeped me out.
D  20th of Feb, 2009 by    -1 Votes
For those sceptics out there: Bankers is a good company! Also, I don't know what you people are talking about when you say that "bankers accreditation has been REVOKED, " because if you go to the BETTER BUSINESS BUREAU website, you see that they have an A+ rating and are CURRENTLY ACCREDITED since October 31st, 2008. Here is the link to the site:


Obviously Bankers has been doing a great job, minus a few, minute instances where a very FEW people are unhappy with their policy that they signed, apparently before reading. Afterall, Bankers Life and Casualty Co. has been a company for 130 YEARS! I am extremely proud to have a career with Bankers, and the thousands of customers in my area. Take care, everyone, even those out there to bring down one of the oldest insurance companies, who have helped millions of people over the years.
D  24th of Feb, 2009 by    -1 Votes
Please note the following: Bankers Life and Casualty Company has been successfully operating for more than 125 years. They specialize in assisting senior citizens with life and disability programs. Although they may not be an accredited Better Business Bureau member, they pride themselves in educating and suiting seniors for their health and financial future. If a policy had a 90-day elimination period or if specific conditions needed to met bet first, then it doesn't appear the above scenario is Bankers fault. Nevertheless, it is imperative the policy holder read through their contract to fully understand what the policy covers, timeframes (if any) and conditions (if any) to determine when the policy will begin paying benefits. I hope you found resolution to your situation either through Bankers Life and Casualty or through the Washington state commissioner's office.
D  17th of Mar, 2009 by    +1 Votes
If you check out the link to the BBB that Alex so kindly posted above and scroll down you will be able to read about the recent multi-state settlement and multi-million dollar fines and ongoing scrutiny by the regulators.

The parent company, Conseco, trades as CNO on the NY stock exchange. You can read about them on Yahoo finance here: http://finance.yahoo.com/q?s=CNO. They closed at 35 cents a share today. They may be able to soon claim their second bankruptcy in less than 10 years!
When the numbers started looking really bad some of the rating companies downgraded Conseco and it's subsidiaries: "Fitch Ratings cuts several ratings for insurer Conseco, citing financial pressure" at
Personally, I would not place the needs of my family or anyone that I care for in the hands of a company that has the kind of track record they have. There are too many other highly rated, quality companies with better track records for claims servicing.
Hope this is helpful.
Good luck.
N  30th of Mar, 2009 by    +1 Votes
Bankers Life just spammed me, or phished, whatever. I have a resume on Monster for an IT position. Nothing on my resume would indicate that I am interested in insurance sales or any sales. I have no sales experience on my resume. I hate the idea of selling insurance. They've already broken my trust by contacting me without my permission. I gave people/employers my permission to contact me regarding IT positions only. Bankers obviously doesn't respect a possible employees wishes, so why would I trust their product, company or sales people. It's a no-brainer for me. Also, I've never heard anything good about them except for the people they direct to complaint boards acting like happy employees.. Any Bankers "damage control" person reading this knows who he/she is. My step father tried working for them 23 years ago and he had the same complaints I'm reading everywhere. They say on their web site that "every year they Wisk.. away their top sellers to a tropical paradise" I'm curious, do they make you pay for some or all of the vacation or do they give you some coupons? Or is it totally paid for and a respectable destination?
A  30th of Mar, 2009 by    0 Votes
I just posted.
N  31st of Mar, 2009 by    +1 Votes
Thank you for your post. I just got a job offer from this company and I always research befroe getting on board. If not for sites like this, I would end up wasteing my time and myself, having to lie to hard working people. I am vey sorry to hear that these things have happened. As the person before me, I have a resume on Monster and have no sales exp. and have only given permission to e mail me. All the people that work for Bankers, work for commision, and have to cold call all day long. So If you are on here standing up for them, then you are only trying to save your job and stop the rest of us honest people from saving our seniors!!
A  14th of Apr, 2009 by    0 Votes
I was just contacted 5 days ago also to work for these people. I was preparing to go to the interview this afternoon. I got online to research the company a little better, and then I found one bad thing after another about this company. Either it's a scam or you get a job and receive very little income. What really made me back out of the interview was reading a post on another site though.

I did a quick search of bankers Life...
There are numerous companies with that name or variation of it.

I found someone who went to an orientation... who tells what the job entails


then two people responded... the second was not favorable...


Also there was another post saying that you could get scammed a different way where they get your account info and take all your money. Just another place offering that To Good to Be True dream job.
A  17th of Apr, 2009 by    0 Votes
Can you say telemarketer
I am sorry that the company I thought was an insurance company would turn on their clients
I worked for them and its all cold calling senior citizens 3 times a day with recycled leads
The newbies sit in a room while the older agents come in and make sure we are calling and harassing the seniors
with telemarketer phone scripts
One of the managers referred to the seniors as little ###
You are told to smile on the phone tell them there are recent changes to medicare that you need to talk to them about it doesn't matter how sick the seniors are cause they will sell a $700.00 life policy to them for $9.00 a month
Not a word of medicare comes out of their mouth when on the interview
I left it's a friggin circus atmosphere unprofessional and demeaning, they promise you the world and all ya get is crap you have to work from 8 to 7 if ya don't make 6 appointments Do not pay for an insurance course with them cause all you are doing is paying to become a telemarketer for a company that wants to rip off consumers
RUN GRANDMA & GRANDPA HANG UP THE PHONE do anything to keep away from them
I got yelled at called a lot of nice names and a headache from seniors who stood up for the right to privacy
N  18th of Apr, 2009 by    0 Votes
I've been working for Bankers for about a month now and am really starting to feel like I've been mislead about how this operation works. With some cold calling and sales experience, I came into this job knowing how difficult insurance sales can be. However, I was never expecting to spend as much time and money as I have in training and licensing for their company as I have. For two weeks all of the other new employees and I sat in an office doing "modules" about Bankers and Bankers' products. We then had to get our 8 hr annuities, 8 hr LTC, and 4 hour ethics certification (this was after our 52 hour licensing courses, of course, as well as purchasing a laptop to do the "modules" on). Then, we spent a week at a hotel in Riverside, CA learning about sales presentations. In all, I spent my first 3 week with the company doing 5-7 hours a day of unpaid training and paying for courses (and, this does not even include the "homework" we were assigned to do every night either). We are finally starting to get out into the "field" this week, and I'm starting to notice the grave lack of money my coworkers and myself are making. Unlike what they said in the interview, the leads they give us are totally cold and recycled. In fact, two of my appointments this week were with people who had had other Bankers agents over at their houses and were rejected. And, many of the people we've been calling are not even near the senior age group I was told that I would be calling. So, most of these people are not interested in Medicare. From what I've seen, making money for the first few months can be very difficult, no matter how good of a closer or caller you are. I've submitted 3 applications my first week (the most out of anyone in my training group), because 2 were of people who were already rejected by Bankers, thus they will not make it through underwriting, and one was a small supplement policy, I'm not going to have enough money to support myself.

I'm sure the money is there, but it comes after going far into debt, and truly devoting your life (8-8 Monday through Saturday) to this job.

Take it for what you will, but I'm starting to regret going to that first interview.
N  18th of Apr, 2009 by    0 Votes
Oh yeah, one last thing I forgot to mention, in the interview they tell you that the leads are provided and you never have to worry about running out of people to call, however, when the leads do run out (I've called for a week and they already have), they tell you to do 1 of 2 things: call the leads again and again until you reach them, or pick a neighborhood and go door knocking.
N  22nd of Apr, 2009 by    0 Votes
i'm an out of work 40+ licensed architect, and there's nothing in my resume that has to do with sales or insurance...but they contacted me for an interview. i guess they got my resume on some job board where i posted it. i see they have it all set up at the website where you just select from the many pre-arranged interview sessions they conduct here. that tells me a lot of people come and go.

yes, they paint an overly rosey picture. but no one's going to pay you 80k or more a year to sit on your duff. making decent money is going to involve hard work. but i already have worked in an industry where hard work and that usually leads to the job just getting finished up early and you get sent home early!

from what i've read, people have had mixed experiences with the company. but i think you can find similar compliants from some employees of all insurance sales companies. the thing that most concerns me is that you need to hit a sales milestone each month...with increased pressure there's always the chance that one may somehow compromise oneself, and that bothers me.

so lets face it, sellling insurance isn't the most glamorous or well respected career. it's not pediatric neurosurgery! so i guess i'll attend. it's an hour of my life; at least they aren't asking for some type of fee that a lot of places hook you into.
N  11th of May, 2009 by    0 Votes
N  12th of May, 2009 by    -1 Votes
Thank everyone for all of their posts...I had an "interview" scheduled for this Friday---now cancelled thanks to all of you. No need to waste my time.
A  27th of May, 2009 by    0 Votes
All of these comments have been very insightful. My parents have been consistantly harassed by this company even though they have been very specific that they are not interested and to take them off their calling list. They also reported Banker's to BBB since they weren't getting a clue.

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111 E Wacker Drive Suite 2100
United States - 60601
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