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Bankers Life Insurance / Not senior friendly

1 United States Review updated:

Bankers Life Insurance has some unscrupulous agents going door to door selling life insurance to seniors. My mother is 74 years old and is easily confused. Anyone who has a ten minute conversation with her can tell. Two agents called my mother and told her they wanted to talk to her about Medicaid. They called and set up a time to talk to her. When they arrived they then explained what they wanted to talk to her about was actually life insurance. She said they were there for over two hours. They finally convinced her their life insurance was better than what she already had, even though the price was $89.00 more per month and the coverage amount was the same as what she had.

To make a long story short, I put a stop on the check she wrote, cancelled the insurance from Bankers and reinstated her old policy.

I tried unsuccessfully to reach someone at Bankers to question them but no one returned my calls until I told them I stopped the check and cancelled the policy, then I got two return calls.

One was from one of the agents who tried to convince me he deals with seniors all the time and my mother was fine and understood everything. I know my mother, she didn't understand any of what they were saying.

I believe they, Bankers, preys on seniors who don't have someone to watch over them. Thank God I am able to check in on my mom often.

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  • Kr
      11th of Sep, 2009
    0 Votes

    My fiance had a home visit from Bankers Life Insurance. He was told that if he put $50, 000 in their bank he would receive $250.00 in interest every month. He is a senior, 72 years old. He actually believes this. My question is when did this company become a bank? Sounds like a scam to me. I need info before he signs the dotted line. Thank you

    Kris Jaroka
    Melbourne, Fl

  • Jh
      30th of Jan, 2010
    0 Votes

    sounds like he is signing up for an annuity, Bankers sells life insurance and annuities.

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