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Bankers Life / Can't get money back

IA, United States Review updated:

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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  • Be
      14th of Jul, 2010
    Bankers Life - Jobs
    Bankers Life
    United States

    My resume got pulled from Careerbuilder and this recruiter called about a position that had nothing to do with the IT jobs I was looking for but being as I was out of work I thought why not see what they have to offer. I asked the recruiter if the job paid benefits and he said it did. He wanted to schedule an interview but said it had to be this one day only, which was a pain because I had an interview scheduled in another state the day before. But I decided to go, so I came back the night before.

    When I arrived at the interview site they emailed me. It was an old building and an old bankers life sign was above the door. I walked up the stairs to the interview site and too my surprise the offices were completely empty. A woman and a man were sitting behind one of those rented tables that fold out and they had a paper table cloth that said Bankers Life it. The woman asked me for my hard copy resume and then gave me a piece of paper to fill out.
    Just walking into this setting made me feel like this was not right. So I asked the woman isn't Bankers life a big company and she said it was but they were just moving into the area. (Now the sign outside the building door was old, so this was another disconnect). But I went in to fill out the paper work she gave me, and looked at her handouts. I asked is this where the interview was being held, and she said this was just a 1st round interview and it was a group session about the opportunities at the company.

    There was another room set up with 20 or so chairs, and a video player. The woman came in and started to talk about the company. Several other people came in, and this one woman was like me a bit surprised at the room setting and the fact that she had been told like me it was an interview for a management position.

    Then I looked at the handouts she gave us, and saw they were looking to hire sales agents. But the information appeared to say you would be a contractor for them, and you would have to sign a contract and pay them to work for them. (supposedly for license fees to be an insurance agent in the state of Maryland). At this point I came to the conclusion that this was a real scam. No legitimate business would be asking potential employees for money on the 1st interview.

    I got up and asked for my resume back, the woman insisted I give her back the handouts that had her name and information on it and the company name. I guess so I wouldn't have any evidence to give the police. I left feeling violated, and also lied to by whoever it was that called me.

    When I got home and searched the internet, and sure enough there were other similar instances reported, where people had gone to successive interviews and each one they were asked for more and more money. Some reported up to $600.00.

    If you get a call like this, I suggest you do not go to the interviews no matter how desperate for work you are.

    0 Votes
  • Jm
      15th of Sep, 2010

    This is the standard operating procedure for what I call Bunko Life. I struggled with them for almost 6 months.

    0 Votes
  • Ca
      5th of Jan, 2013
    Bankers Life - premiums
    Bankers Life and Casualty
    United States

    they are charging me more then what i am suppose to pay they charged me $25.37 and it is suppose to only be $23.82 a month this company should be investigated i also have a second policy ad that one is suppose to be $18.77 a month

    0 Votes
  • Re
      22nd of Jan, 2016

    Since Aug 15 after I get a note in the mail saying my agent quiet. There is on one to help me. The funny thing is that they keep taking my money out the bank.

    0 Votes

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