Bankers Life Fined $115,000

[scagnt83]

$115k is nothing!!! That is less than a slap on the wrist!

They should be forced to undergo a 3rd party claims audit, then forced to pay what they actually owe directly as they should have in the first place!

 

[KarenLorenzo]

That is why it is advisable to talk to agents from credible long term care (LTC) insurance companies that has strong financial stability and ratings...

 

[ltcadviser]

That is why it is advisable to talk to agents from credible long term care (LTC) insurance companies that has strong financial stability and ratings...

Define "credible" and "strong" to you.

(Just curious as I usually see the definition for the above to an agent may depend upon the agent's own agenda)

 

[KarenLorenzo]

Define "credible" and "strong" to you.

(Just curious as I usually see the definition for the above to an agent may depend upon the agent's own agenda)

Thank you for clarifying that Personally, I see companies with good scores from credit rating agencies as credible and strong, because these agencies measure financial performance and stability of the company.

 

[ltcadviser]

Thank you for clarifying that Personally, I see companies with good scores from credit rating agencies as credible and strong, because these agencies measure financial performance and stability of the company.

Would you not agree that definitions are determined by agendas. For everyone.

How do you define "Good?" A Bankers Life agent can state that its AM Best rating of B+ is "Good" by AM Best standards.

An ACSIA LTC agent might feel "Good" about Transamerica, John Hancock, Genworth, Mutual of Omaha, Sun Life.

However, NWML, NYL, and MM agents might not feel "Good" about Bankers, Omaha, Hancock, Genworth, Transamerica, Medamerica, or Sun Life.

So, what's your definition of "Good?"

 

[KarenLorenzo]

Would you not agree that definitions are determined by agendas. For everyone.

How do you define "Good?" A Bankers Life agent can state that its AM Best rating of B+ is "Good" by AM Best standards.

An ACSIA LTC agent might feel "Good" about Transamerica, John Hancock, Genworth, Mutual of Omaha, Sun Life.

However, NWML, NYL, and MM agents might not feel "Good" about Bankers, Omaha, Hancock, Genworth, Transamerica, Medamerica, or Sun Life.

So, what's your definition of "Good?"

Oh yes, and ratings may vary according to rating service source, I prefer an insurance provider with a rating from A+ to A++ from AM Best. A company with B+ rating may be okay but I don't think they can perform well in times of economic hardship..