Got to Love Bankers!

[USVision]

Nursing home patients battle insurance company for benefits

KSHB NBC 41 Kansas City
Feb. 05, 2012. 11:22 PM EST

http://www.clipsyndicate.com/video/p...=nbc_headlines

An NBC Action News Investigation into nursing home patients battling their insurance companies ha... More »

Praeger Goes to Bat for Elderly Patients over LTC Coverage ...

www.lifehealthpro.com/.../praeger-goes-to-bat-for-elderly-patients-o...
3 days ago - In this case, the patient's son, Greg Mills, had created the website http://www. Bankers-Life.info to chronicle the battle, but it appears closed to the public at the ...
This company is more than a problem.





Last edited by USVision : 02-11-2012 at 01:22 PM.

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[Arthur Rudnick]

Bankers Life & Conseco are an absolute disgrace to the insurance industry and should be shut down in every state.

 

[xrac]

Bankers Life & Conseco are an absolute disgrace to the insurance industry and should be shut down in every state.

I do not disagree with that.

 

[JFBAgent]

Bankers Life & Conseco are an absolute disgrace to the insurance industry and should be shut down in every state.

I've been running into them more and more...getting tired of them getting into my client's houses and blatantly lying to them. They will say and do anything to make a sale.

Has anyone ever dealt with their nonsense, documented it, and sent a certified "warning letter" to the local branch manager?

 

[Arthur Rudnick]

Has anyone ever dealt with their nonsense, documented it, and sent a certified "warning letter" to the local branch manager?

And, what exactly is that going to do?

 

[USVision]

I've been running into them more and more...getting tired of them getting into my client's houses and blatantly lying to them. They will say and do anything to make a sale.

Has anyone ever dealt with their nonsense, documented it, and sent a certified "warning letter" to the local branch manager?

They were required to 'replace' all the managers in Wisconsin in order to retain their appointment status with the state:

INSURANCE COMMISSIONER ANNOUNCES ANNUITY COMPANY BANKERS LIFE AND CASUALTY TO PAY RECORD $1.5 MILLION PENALTY
States News Service
MADISON, WI

The following information was released by the Wisconsin Office of the Commissioner of Insurance:
Wisconsin Insurance Commissioner Sean Dilweg announced that Bankers Life and Casualty Company (Bankers) settled an investigation by paying a record $1.5 million dollar forfeiture and offering a restitution program to 5,700 mostly senior Wisconsin annuity purchasers. Bankers, headquartered in Chicago, settled an Office of the Commissioner of Insurance (OCI) investigation of allegations of numerous unsuitable annuity sales and do not call list and home solicitation violations.
"This settlement protects Wisconsin consumers," said Dilweg. "Bankers' license is on the line for compliance."
The settlement agreement requires Bankers to establish a comprehensive supervision and training program to ensure its agents and branch managers comply with annuity suitability, do not call and home solicitation laws. Bankers agreed that the Office of the Commissioner of Insurance may revoke its license to do business in Wisconsin if it is determined to have materially violated the settlement agreement. The Bankers settlement includes the requirement to comply with Wisconsin's new, strengthened annuity sale supervision regulation signed into law by Governor Jim Doyle on May 13, 2010.
U.S. Senator Herb Kohl, chair of the Senate Special Committee on Aging recently initiated an inquiry into Bankers annuity sales practices. In addition to his examination of Bankers sales practices, Senator Kohl successfully fought for inclusion of provisions in the recently adopted federal financial reform legislation to strengthen state enforcement of annuity suitability requirements. Bankers denies violating Wisconsin law. In addition to consenting to the order, Bankers changed management at its Madison, Janesville and Wausau branch offices during the OCI investigation and began to implement new sales supervision practices. Bankers' annuity owners or beneficiaries who were sold annuities from January 1, 2004, to July 26, 2010, through the Bankers' branch offices in Madison, Janesville and Wausau, and certain other annuity owners, will receive mailed notices of their right to request a review of the sale by an independent firm. Consumers will be offered restitution according to the terms of the settlement agreement if the sale is found to be unsuitable or improper. OCI expects notice of the restitution program will be mailed to consumers this fall.


Excuse me, not 'replaced'....'changed' managers....right...like that made a difference. They are teaching the 'whatever it takes' sales principals they always have, if continued "blatant lying" is going on....

Are their lips moving?

 

[xrac]

I've been running into them more and more...getting tired of them getting into my client's houses and blatantly lying to them. They will say and do anything to make a sale.

Has anyone ever dealt with their nonsense, documented it, and sent a certified "warning letter" to the local branch manager?

He is probably the one teaching them to do that stuff.

 

[CALTCAgent]

Has anyone ever dealt with their nonsense, documented it, and sent a certified "warning letter" to the local branch manager?

Now this made me laugh, you must never have met one of their branch managers. A letter would be nothing to them.

 

[USVision]

Now this made me laugh, you must never have met one of their branch managers. A letter would be nothing to them.

They only promote the best.

 

[xrac]

They only promote the best.

The best liars and thieves or what?