Complaint / review text:
My parents bought a long term health care policy from Bankers Life years and years ago. My dad passed away in 2000, never having had to use any of the policy benefits. As of 2011, my mom now requires a long term health care. We contacted Jason, her agent, to find out exactly what the total payable benefit was; how it was paid, what the requirements were and et cetera. Meanwhile, we had to pay for her nursing home expenses up front, approximately $6500/month. We were told by Bankers Life that we had to pay; submit the receipts, and fill out the claim forms—they would reimburse us.
We filed our first claim, and they received it on March 31,2011. We have yet to get one penny from this company. Every time we call the customer service department, we get excuse after excuse. I contacted her agent, Jason. He made some calls, and he told us that he was told we would be paid in full, by July 12,2011. Today is July 22 and we have yet received anything. We called the 800 number AGAIN, last week. We were told that they needed another document from the facility, and had just received it. So now it would be another 30-45 days. We get the same line about every 2-3 weeks. It is nothing, but stall tactics. It is a crying shame that this company preys on elderly (and the not so elderly), selling them a bill of goods. These people obviously need the money when they need it.
Bankers Life obviously feels that it is more important for the company to hold on to their customer's money (which is the customer's money).in addition, they have the "gall" to continue to withdraw her monthly $200 from her account, when we have a letter stating that this would not happen.