15 comments

Have read several complaints submitted by many individuals. It is an odd thing that I am having the very same issues.

I have been contacting them for 6 months just trying to get information about claims that have been made, and a decision there-of. It is impossible. Just as others say, you never get the same rep. nor will they give you a name or number so you can contact the same one....

I have literally spent hours on the phone, way too much money faxing duplicate information (the only way they will except it, other than mail) again and again. As others, the same excuse is used. They have not received it, they do not have everything. I have been documenting the experiences I have had, and they are horrible.

My parents have been paying for over 10 years too... now that they need assistance BANKERS LIFE is giving us a run-around like I have never seen or had to deal with before. Have made a complaint to Consumer Protection hoping they will be able to help...

If not, the next step is an attorney... Not sure what to do, but A Class Action might help.

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Anonymous
#492011

Avoid buying from Bankers Life and avoid working for them or any of their affiliates! One big company that scams, hires, fires and forces employees to resign.

Not to mention, they racially discriminate! Go to their interviews and see for yourself. Real interview? BS!

Its these sales tactics to make you believe you can make money, lure you in, and then give you the BS recycle leads. Force you to sign up everyone you know because you must make money and easiest people to sucker are those that trust you; mainly family, friends and old acquaintances.

Anonymous
#492009

@crybaby, why don't you tell us your name? Protecting a company for what?

You either are affiliated with their scamming party or you are one of the agents getting fed all of the "real" leads and not the 10 year old recycled leads they give out to all of their branches. Didn't make the cut? I'd love everyone who was mistreated to chime in and tell everyone about how all of your customers that bought from you are now all cancelling their policies and you are getting hit left and right with collections. They make all of the money and you get left with the BS.

*** Bankers Life. Sorry *** Managers read my blogs spilling all their BS and they made numerous attempts to try and reach me to try and stop me telling all of their scamming system at Bankers. When I had resigned, I wasn't important to them.

But when I spilled all of the real BS, they were calling me like I was their brother. *** Bankers Life and all of their affiliates and Managers!!!

Anonymous
#466385

Training is only a week? BS it's everyday every week and seminars for free...learning and training is all the time at Bankers!

IF you are going to write a complaint at least be smart about it. geez

Anonymous
#466380

:cry Some of us have made money from a job with Bankers and like it very much....remember not everyone can do it.....and not just anyone can make the cut! The negative comments are from people who obviously did not make the team! Think about it!

Anonymous
#463577

Not only are employees complaining, also clients are too, apparently. I interviewed and found that the "training" is only a week to start, but covers life, health (Medicare supplementals) too many products to "learn" in one week.

How can they provide good c.s., then? Potential retirees should check with AARP or AAA for reputable companies or 1800-Medicare for info on supplemental or advantage plans.

Anonymous
#454130

Make a complaint to the insurance comissioner in your state. They are generally very strict and Bankers already gets so many complaints that they will probably be very happy to investigate another problem with them.

They will definitely help you out. Also make a complaint to the better business bureau but immediatley to the insurance commissioner.

Anonymous
#453821

My father is 73 and in fairly good health. His memory isn't what it used to be, but other than that, he's fine.

He has Bankers for his healthcare, and now an agent (who flirts shamelessly) is trying to coax him into spending an extra $130/month for a short-term care policy which will only cover 90 days if he ends up needing nursing or in home care.

I think it's unnecessary, but my dad has bought into her sales pitch.

He is due to sign papers tomorrow, but I am thinking of talking him out of it. I think a medic-alert emergency necklace unit would be just as good...any feedback?

Anonymous
#447571

I was brainwashed through repeated trainings week in and week out, even on Saturdays (what the *** do you call that?). Led to believe that Bankers Life is a good company, been in business for over a 100 years, yada yada.

***! I fell hard. Believed. Then tried to sell their *** life insurance, health and retirement products to friends, family, old acquaintances, you name it.

Now I look like a ***. Burnt so many relationships, friendships, etc. When I call on my friends or email them, they don't respond anymore because they think I'm trying to sell them some ***. Folks do their research (unfortunately I didn't do enough) and they know how bad a company Banker's Life is.

So they won't buy life insurance from Banker's, they won't buy health related products because they are very expensive and their retirement products are just full of ***. I'd imagine the company going in to Bankruptcy soon. Word needs to get out and no one is speaking unfortunately. A couple guys I started with all suffered the same fate.

They weren't like me, they just sucked it up and moved on. Not a word to anyone. Sad really. They all had families and children to support too.

I quitted first, then those other fellas all eventually followed suit. It's sad because we each contributed a few, and they made money from our *** sales numbers (those customers were our parents, wife, brothers, sisters, friends we've all known for a long period of time) and I'd bet most of those sales went to collections. Now your credit is *** up too thanks to them. So why waste time, money and effort to lose at the end?

Really?

Life goes down the drain working at Banker's. I say their is NO LIFE at Banker's, ONLY CASUALTY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Anonymous
#447566

Why pyramid scheme? When you come in as a new agent, you are forced (required) to go out with their seasoned reps and if the both of you make a sale, that seasoned rep takes half of the commission.

And then upper management takes a piece. That's how they are making $300k, $400k, or even $500k. *** take a piece of everyones commission. Why high employee turn around?

Why hire and fire? Or self quit? It's because they get you in, and if you sell 1, 2 or 3 polices, and a branch have 20 or 30 new agents, imagine how much money is made there? Easy money.

I'd love to be at the top too, but unfortunately I wasn't part of the evil leaders that started this pyramid scheme. And after folks resign, get fired, the measly few that each new agent sells, if the customers all cancel, whatever you pocketed will go to collections. More money for them!!!!!!!

They are just raping people. Literally!

Anonymous
#447556

IF AFTER READING MY COMMENTS YOU STILL WANT TO WORK FOR THEM, GOOD LUCK. DON'T TELL ME I DIDN'T WARN YOU. SOON YOU WILL FIND YOURSELF BACK ON TO THIS SITE TELLING US THAT YOU SHOULD HAVE LISTENED AND NOT WASTED YOUR TIME.

BANKERS LIFE MAY BE IN MANY LOCATIONS IN THE US, BUT THEY ARE A FILTHY LYING NEW AGE SOPHISTICATED PYRAMID SCHEME. DO NOT EVERY WORK OR BUY FROM THIS *** COMPANY! YES SOME FOLKS WORKING THEIR (ROOKIES) MAY BE GOOD PEOPLE WITH GOOD INTENTIONS, BUT NOT THE COMPANY. FROM ALL THE PROBLEMS CUSTOMERS ENDURE WITH FILING CLAIMS TO THEIR HIGH COST OF POLICIES AND OTHER HEALTH RELATED SERVICES.

I WOULD NOT WASTE ANOTHER MINUTE DEALING WITH THIS COMPANY. UPSET BECAUSE I WASTED SO MUCH MONEY DRIVING AROUND SEEING FOLKS THAT DIDN'T QUALIFY (THANKS TO *** RECYCLED LEADS), PUT ON A TON OF MILEAGE USING MY OWN CAR, SPENT A FEW THOUSAND DOLLARS ON GAS, AND I MADE NOTHING!!! ABSOLUTELY NOTHING! SOME OF THEIR NEW REPS (MAYBE 2 YEARS TENURE) ARE MAKING MAYBE $200K, BUT MAJORITY OF THEM ARE MIDDLE EASTERN DECENT (THEIR FRIENDS, FAMILY, COUSINS) SO THEY ARE SPOONFED. AND THEY USE THESE TOP PRODUCERS AS EXAMPLES TO PUMP YOU UP. I'D FIGURE IF I CAN'T MAKE WHAT THEY ARE MAKING I'D AT LEAST MAKE $25,000 A YEAR (IN OTHER INDUSTRIES I'M GOOD AT SELLING ***), BUT MAKING NOTHING IN 6 MONTHS SPEAKS A LOT. ITS NOT THAT I SUCK AT IT, ITS JUST *** UP!

YOU'LL FIND OUT FOR YOURSELF.

Anonymous
#447553

DO NOT GO TO THEIR INTERVIEWS, DO NOT GO TO THEIR MONTHLY MEETINGS, DO NOT GO TO ANY OF THEIR EVENTS, DO NOT SIT DOWN WITH THEIR SALES AGENTS, DO NOT WASTE YOUR TIME THINKING YOU WILL MAKE MONEY FROM THIS JOB, BECAUSE YOU WON'T, AND DO NOT WORK OR BUY FROM THEM. SIMPLE.

THEY HAVE MANY SOURCES OF LEADS, BUT ONLY GIVE TO THEIR FRIENDS WHICH TURN TO TOP PRODUCERS BECAUSE THEY TAKE CARE OF THEM TO USE AS EXAMPLES TO SELL YOU ON WORKING FOR THEM.

*** WITH BANKERS LIFE! *** TO COLONIAL PENN AND ALL THE COMPANIES THEY TRY TO REPRESENT.

Anonymous
#447550

DO NOT GO TO THEIR INTERVIEWS, DO NOT GO TO THEIR MONTHLY MEETINGS, DO NOT GO TO ANY OF THEIR EVENTS, DO NOT SIT DOWN WITH THEIR SALES AGENTS, DO NOT WASTE YOUR TIME THINKING YOU WILL MAKE MONEY FROM THIS JOB, BECAUSE YOU WON'T, AND DO NOT WORK OR BUY FROM THEM. SIMPLE.

THEY HAVE MANY SOURCES OF LEADS, BUT ONLY GIVE TO THEIR FRIENDS WHICH TURN TO TOP PRODUCERS BECAUSE THEY TAKE CARE OF THEM TO USE AS EXAMPLES TO SELL YOU ON WORKING FOR THEM.

*** WITH BANKERS LIFE! *** TO COLONIAL PENN AND ALL THE COMPANIES THEY TRY TO REPRESENT.

Anonymous
#447545

I was sold in to this company. Wasted more than half a year of my life with them and now the measly money I made (forced to write my own life policy to collect a few dollars and 1 customer cancelled after a month or 2) is being sent to collections.

That's how they make their money!!! Screw the employees. Give you recycled leads. After a month or 2 (with no income not even base) you are forced to convince your own family, friends to sign up.

When things don't go well, they recycle your friends and family to their "best friends" or their "top producers" whom are their friends. Keep giving you crappy recycled leads (same leads they send to "all" their branches) and let you beat them to nothing. When you make no money, you quit. Then they get you when customers you sold to cancel the policy.

Force you to cough up more money when you've made nothing. This company is BS~! I wasted my time and money for the studying, materials, etc. Farshad, Derek, and Said are all full of ***!!!

Do not waste your time with this company. Tell all your friends and family not to buy from them either!!!

Anonymous
#445380

OMG, what a load. You have a lot of time on your apparently worthless hands.

Your once again, long winded explaination is of no value as well. This teaching moment is insulting, elemental and unneccessary.

The subject is the claimless Bankers Life policies. To obstigate with useless BS again, only speaks to the fact that you troll around trying to make excuses and sell yet another policy,

Anonymous
#444917

Let me explain a few things right quick. Long Term Care can be complicated...

First, when an agent sells you a "Tax Qualified" plan then the first thing that you need to know is that the DOCTOR MUST state that the condition is expected to last for at least ninety (90) days. This is why tax qualified plans cost less than non qualified plans.

Second, 'Elimination Periods' are measured in actual days used. Some rare policies measure certain events in weeks or months but as a general rule of thumb a '90 day elimination period' is just that. In most cases care must be provided for 90 actual days and not just cover a span of three months. You need to know the actual type of policy that you have and it is ALWAYS written in the policy itself if there are exceptions to an elimination period.

Third, the agent who writes a long term care policy receives a commission at the time of policy issue. Some insurance companies offer residual commissions to agents after the first year. A MAJOR challenge with Bankers is the company's high agent turn-over rate. It is often difficult to get a new Bankers agent to help out when he or she knows that there will be no commission for helping you. I have seen vested agents spending hours on the telephone to get client benefits and it appears to me that is what it takes to make the 'machine' work best.

Forth, Long Term Care insurance is profitable to insurance companies because only somewhere between a third and a half of the policies issued are ever claimed on. If Bankers issues you a policy then the chances are that you are in exceptionally good health. They call if 'avoidance of adverse selection' but a typical person would call it 'Cherry Picking'. To the best of my knowledge there is no for a consumer to prevent this.

Fifth, the Medical Information Bureau (MIB) retains records of your health and medical conditions and appears to be somehow 'exempt' from HIPPA regulations when it comes to insurance companies. By this I mean that your ENTIRE medical record is available to these insurance companies so that if you had a medical condition twenty years ago it is still there for the insurance company to use 'against you'. Evidently, there is no statute of limitations on your health experiences. (Talk about a GREAT place for an upstart politician to make a difference!) Companies like Bankers are BUSINESSES and businesses are interested in making money. So, if you've ever had a 'serious' medical condition then you will probably not pass the underwriting process to qualify for a policy.

I hope that this helps at least a few people out there. Insurance is a complicated business and many insurance companies out there spend more in attorney fees to find loopholes than they pay out in client benefits. I don't know how much Bankers spent on claims payments in the past five years versus attorney fees but it might make for an interesting ratio for consumers to use when choosing an insurance policy.

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