Bankers Life / Can't get money back
We've been trying for 4 months to cash in an annuity. My father had to go into a nursing home about 5 months ago. He had nursing home insurance with Bankers Life, but found it would pay very little, wasn't as we were told. We haven't seen a penny from it, don't expect to. We had to apply for Medicaid to pay for his nursing home care. To do so all assets for that person have to be cashed in. We had little trouble with other companies, but Bankers has given us the run- a- round with the annuity. An agent visited the home, filled out forms, called the company to see if they had everything needed. He said the check would be sent in a couple of weeks. That was over 3 months ago. We've called & e-mailed the company over & over to no avail. They always have some excuse, or transfer us elsewhere. Some have been downright rude, others have just lied. We've had to pay out at least $18, 000 so far in nursing home costs we would not have had to pay if we hadn't had the annuity. The Medicaid social worker told us she sees this sort of situation with Bankers all the time. If this continues we could be bankrupted as a result of doing business with Bankers. Now they're telling us the check was mailed 8 or 9 days ago. It still hasn't arrived. Today a rep told us it'll come, often takes that long. That's strange as we're about 500 miles from the home office.
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