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Former Bankers Agent

Wapwallopen, PA

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#2
Apr 1, 2009
 
Bankers client wrote:
Banker's Life & Casualty Co Says:
January 22nd, 2009 at 5:33 pm
My husband and I took Bankerís Life Insurance, what a nightmare. We should have just let it be, but he took his 401k out and put it in an annuity. It wasnít much, but it was still all we had extra. We are both on SS Disability.
We signed the original paper 31 July 2008. Our agent, from Allentown,PA., finally brought us the paper work for Bob to sign in 13 Dec. 2008. This was after many phone tag playing.
We told her we were having money difficulties and need to take money out to pay debts.
We signed the paper, she called and said all was taken care of.
We waited and waited,come Jan 2009 I kept bugging him to call and find out where the check is so we can catch up with our debts. Amanda Wright, our agent, never called us back.
We finally called the office in King of Prussia. They had no record of us wanting any money.
Well on the 12 Jan 2009 a women overnighted the application, and saif she filled everything in, just sign where the sticky paper was, so we did, and on the 13 Jan 2009 overnighted the paperwork. The check never came.
This week we call the women she isnít in, left her a message, left Amanda a message,no return calls. So we call the Chicago office, they say they have no record of us wanting money. I tell the women we need this money for our mortgage, and bills, and I have a medical problem and must go to Philadelphia in Feb. So she says after 45 mins. on the phone fax her a form, and she will submit the paperwork.
We go to staples pay to fax 3 pages, I call today, and get another person, she says there is no record of us faxing anything to her. Fax the papers again to another number, she will give the work to a man named Brian personally, and he will call me when he gets the paperwork. I give my cell number, it is now 8:30pm and never got a phone call.
Please people DO NOT USE BANKERíS LOFE. WE HAVE HAD NOTHING, BUT TROUBLE.
If my husband has a heart attack from this, I will sue. The stress if getting to him and me.
He had to take his Nitro today, because he is just so upset. If we ever get the check, we will then get all the money out and put it in the bank.
Bankerís Life preys on the elderly it seems. If they are like this to everyone, something must be done about them.
Thankís for letting me vent. I am going to repoirt them to the Better Business tomorrow.
Don't report them to the Better Business Bureau, report them to the Pa Department of Insurance. I worked in this office and I know all of the bottom feeders that work there. They are nothing but scam artists. I know the agent that you dealt with. They try and give you the impression that they have your best intrests in mind but they don't Tell me, did they ask you if you had CD's?
Jay

Phoenixville, PA

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#3
Jan 14, 2010
 

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I agree right a letter to the PA insurance department. If you did not have much money you were not suitable for an annuity product. These are greedy little bastards that do not always have your best interest in mind. Writing a response to the insurance commission is the only way to stop these agents from putting you in a product that is not suitable. I would even send it to Ed Rendall then you know he will stick a fire under these agents asses. They lure you in with a Medicare Supplement and they are trained to go after your money because they get big commision checks moving your money.

Good Luck and careful who you trust your money to.
Claude E Klimp

Okeechobee, FL

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#4
Mar 7, 2010
 

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On Feb 22, 2010 My wife and I contacted the Kalamazoo office in order to purchase some realestate in Florida. This should have been a simple process. I have never been told more lies, been ignored, had more broken promises from any financial organization. We are going on the third week of trying to accomplish this task. I thought the funds I invested from my small retirement 401K were actualy mine. I now look like a fool to the seller, the title company, the realator and everyone else involved. When we return to Mich I am sure my finances will be transfered to a Reputable financial organization.
Olivia Palmieri

Rowland Heights, CA

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#5
Jun 8, 2010
 

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I am one of several attorneys involved in a class action against Bankers Life related to its senior sales practices. As part of our investigation, I am interested in speaking with anyone (except current employees/agents of Bankers Life) that has factual information related to the practices of Bankers Life. In particular, I am interested in speaking with ex-agents/employees who worked for a Bankers office in the South Central Division/Territory, Northeast Division/Territory, or Florida, although any office is appreciated. You can email me at opalmieri@drllaw.com.
Tom Miller

Kelso, WA

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#6
Jun 26, 2010
 

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I'm not working for Banker's at least (not yet) but I have a few questions about them. I feel that I have made a bad decision to quit my cleaning job to work for them!!!! I live in Kelso, WA and I need to know if there are a reputable company to work for or not! Please contact me at TommyBlazeHD@hotmail.com I need to make an informed decision before its too late.
SAL

Philadelphia, PA

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#7
Dec 29, 2010
 

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I just looked over my 70 yr old father's financial paperwork for the first time and found that a Bankers Life agent from King of Prussia had scammed him into buying a 50k Universal Life policy that cost him $3200 yr, an annuity that he can't take disbursements from until 2018 and a Medicare Supplement plan. So he won't be able to take any disbursements from his annuity until he's 78 and his life insurance is useless because he'd be better off putting the 3200/yr into a money market account or paying down the 300k dept he has on his property. He has a mortgage on an "investment" property that he pays interest only on because he can't afford the payments but this guy is going to sell him all of his insurance products and make his huge commissions like the senior scamming scum that he is. I'm definitely calling the PA insurance commission and getting to the bottom of this.
BGA Insurance Group

Springfield, PA

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#8
Mar 21, 2011
 

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What People Are Saying About BGA
Joseph J Bachmeier with BGA Insurance Group has been my insurance agent for a few years. I trust all the input I have recieved from him over the years. He is attentive to all my needs. I have also referred many people to him and they became clients as well. They all feel the same way! Joe is a pleasure to deal with.
- Marion Goldstein, Horsham PA

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As though turning 65 and applying for Medicare isnít scary enough, you also realize you need a Supplemental Insurance Plan. I, like most people find salesmen very intimidating.
So, when I met Joe Bachmeier and Greg Gudis for the first time, I was on my guard. Were they honest, truthful, dependable, etc.???
After a little more than a year of having Joe and Greg for my insurance agents, I can honestly say that they are all of the above.
They have always been there when I needed them. I never have a problem reaching them.
Actually, to me, they are no longer salesmen, they are friends.
- Kathy Mullin, Haverford PA

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Deciding on a supplemental program for Medicare sent us to a number of possible sources. We wanted good coverage which would not break the bank as it were. Happily, a co-worker gave me Joe Bachmeierís number and we were good to go from that point on. Joe came to our home; his easy going style, along with the range of knowledge he possesses made our decision an easy one. I am happy to pass along Joeís number to my friends as they hit Medicare age because I know they are in great hands.
- Dick and Joanne Forrest, Glenside PA

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gailann oregon

Aumsville, OR

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#9
Jun 12, 2011
 

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My mother passed away dec.2010 and we found she has annuities at bankers life worth 150 thousand , these people have lied to us , my sister has documented everything and they are still horrible, I faxed them documents that they said they never received so I faxed them again with also the transmission detail of fax. they have lied so much to my family and me. PLEASE NEVER USE BANKERS LIFE LOOK AT ALL THE COMPLAINTS THEY HAVE, we are scared that we may never see this money my mom and dad worked hard for and paid for in 1991, they do not care for anyone but them and getting your money
Kristi

Medicine Lake, MT

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#10
Sep 9, 2011
 

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My mother has been a life insurance policy holder for over 20 years with Bankers Life. A few days ago she received another letter from them saying she behind on her payments and to send a big lump sum of money or they will cancel her policy. She has faithfully made these payments for over 20 years. This is the 3rd time they have done this. At one time she had 2 policys, well the 1st time they told her she was behind she had to let the 2nd one go as she could not afford the huge sum of money they wanted. Ok, just last year they did it the 2nd time. She sent them the canceled checks for the 3 months they said she was missing, and the big check because she was afraid they would cancel her anyway. Well they cashed it and repeated attempts to find out why and why she was not refunded the money have gone unanswered by call after call to the nearest office and the head office. Nobody knows, and we get the run around and the pass the buck of why this is happenig. Nobody knows.Her insurance agent will not return her calls. So we ask can we change agents, answer is yes, but it doesn't happen. So now couple days ago almost a year later, once again, saying she is behind send a huge lump sum of money or it's cancelled. The branch manager even had the addacity to recommend she just get it directly taken out of her account so there wouldn't be any problems. What should be done to hold these people accountable?
insurancegeek

Grand Rapids, MI

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#11
Oct 6, 2011
 

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Kristi wrote:
My mother has been a life insurance policy holder for over 20 years with Bankers Life. A few days ago she received another letter from them saying she behind on her payments and to send a big lump sum of money or they will cancel her policy. She has faithfully made these payments for over 20 years. This is the 3rd time they have done this. At one time she had 2 policys, well the 1st time they told her she was behind she had to let the 2nd one go as she could not afford the huge sum of money they wanted. Ok, just last year they did it the 2nd time. She sent them the canceled checks for the 3 months they said she was missing, and the big check because she was afraid they would cancel her anyway. Well they cashed it and repeated attempts to find out why and why she was not refunded the money have gone unanswered by call after call to the nearest office and the head office. Nobody knows, and we get the run around and the pass the buck of why this is happenig. Nobody knows.Her insurance agent will not return her calls. So we ask can we change agents, answer is yes, but it doesn't happen. So now couple days ago almost a year later, once again, saying she is behind send a huge lump sum of money or it's cancelled. The branch manager even had the addacity to recommend she just get it directly taken out of her account so there wouldn't be any problems. What should be done to hold these people accountable?
What your mother probably had was a univesal life insurance policy, and no matter who you get those through, at the end of your life- it costs more to insure you. The way those policies work is the difference between what it costs the insurance company to insure you and the premium you pay, is what goes into the cash value. once the cash value is at 0 the policy collapses. Most people get universal life policies when they are younger just to build the cash values up. Once your older, the cost to insure you is obviously higher, because insurance gets more expensive as we age. at that point- it costs more to keep the policies in force because they take the difference from your cash value that was built up. Bottom line- if you want a universal life policy, have it when your young so you can afford it (when were older were usually more on a fixed income) and then dump the cash value into a whole life in your 50's. So this doesn't really sound like a bankers problem- but it is frustrating that your mom has had to pay a lot more to keep up with the cost of insurance year to year. If you have any questions, email me at insurancegeek22@gmail.com
insurancegeek

Grand Rapids, MI

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#12
Oct 6, 2011
 

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My mother had a million dollar life insurance policy through bankers life and co and a LTC plan (Bankers is top 3 in the industry) and I was more than pleasantly surprised at the speediness that our claims were paid and the support from my agent. I'm located in Michigan and used to be in the insurance industry and so I am familiar with insurance products so I knew what to look out for. When it comes to life insurance and LTC, Bankers are awesome! They have been around for quite some time and from my research, they are more competitive than North Western Mutual for Universal life insurance products. Their annuities are competitive- but other companies have better riders that Bankers doesn't offer, but they aren't bad. What I loved about bankers is that they don't owe any debts they cant pay off. If they paid out every single claim they owed tomorrow- they would still have a billon dollars to keep their heads above water and keep their company moving forward. They didn't ask for any government bailouts when everyone else was either. I mean in an insurance company... thats what I'm looking for.
Adriana Simmons

Chico, CA

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#13
Nov 7, 2011
 

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Bankers Life and Casualty Company is a scam. I purchased a Long Term Care Policy from them 9 years ago. Recently, after needing home health care and approving of my selected providers, the company has refused to pay. They have given me many different reasons why they will not pay and required all types of documentation which I have provided. I have gotten the run around with lies and misrepresentations. DO NOT BUY insurance from this company.
jim Florida

Fort Lauderdale, FL

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#15
Feb 22, 2012
 

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they have a GPS system to target the elderly turning 65 in Florida. This system beeps when you pass a person that is turning 65. We need a donot vist registry now. They actually target homes of the eldery through this new system.
Alyssa

United States

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#16
Apr 28, 2012
 

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jim Florida wrote:
they have a GPS system to target the elderly turning 65 in Florida. This system beeps when you pass a person that is turning 65. We need a donot vist registry now. They actually target homes of the eldery through this new system.
This is true- I went to an interview and they told me this. How crazy is that?? I am not going to work for them. I thought I would, but saw all of the negative comments.. thankfully before it was too late to get out of it! Ah!
Anonymous

Sarasota, FL

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#17
Jul 11, 2012
 

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HUMILIATING AND EXTREMELY RUDE INTERVIEW:
I updated my information in XXX to reflect that I am looking for part time work. I wrote it on my resume CLEARLY, and on my cover letter. The next day I received an email from Bankers stating that they wanted to schedule a time to interview me. So I scheduled a time and made sure my schedule was clear and postponed some very important business to go to my interview. I got all ready, prepared, made sure I had everything I needed and set out. I arrived exactly 15 minutes early as was requested, was brought into a room which was eventually filled with about 8 -10 other individuals who applied (totally unexpected). They were going to conduct a group interview for 15 minutes and then do individual interviews. We then had to pass our resume's up to the front where Person X sat (name changed). Person X then announced that this was a career position for full time applicants. I decided at that point I would leave after the group session to avoid causing a scene. Person X then asked me to introduce myself and began reading my resume/ asking leading questions that I couldn't give full responses to, and then immediately upon finding out I was in school told me to leave. No "Thank you for coming out" and no "Goodbye". Just a cold "You can leave." stated with a ridiculous smile as if that would justify the rudeness. It was extremely humiliating and very rude. I have worked in many professional and high stress environments and Person X's behavior was completely unacceptable.
Insurance guy

Plainfield, IL

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#18
Nov 20, 2012
 
jim Florida wrote:
they have a GPS system to target the elderly turning 65 in Florida. This system beeps when you pass a person that is turning 65. We need a donot vist registry now. They actually target homes of the eldery through this new system.
Most insurance companies have a gps or software system to target potential customers. Not unique to bankers...
Insurance guy

Plainfield, IL

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#19
Nov 20, 2012
 
Recently, I started looking at these websites to see what people were saying.....I find it interesting and my obvious conclusion is 99% of happy customers don't waste their time on these silly sites.....from any insurance company. If you look not so hard, you will find complaints against any insurance company.
EVERY insurance company will have good/bad offices and good/bad agents. They never last if they are bad ones.
Hope this helps any consumer looking for info
Kitty

Joppa, MD

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#20
Jan 4, 2013
 
Jay wrote:
I agree right a letter to the PA insurance department. If you did not have much money you were not suitable for an annuity product. These are greedy little bastards that do not always have your best interest in mind. Writing a response to the insurance commission is the only way to stop these agents from putting you in a product that is not suitable. I would even send it to Ed Rendall then you know he will stick a fire under these agents asses. They lure you in with a Medicare Supplement and they are trained to go after your money because they get big commision checks moving your money.
Good Luck and careful who you trust your money to.
Jay, clearly you are uneducated. Learn how to spell then try commenting intelligently. I recommend starting in the 4th grade.
Kitty

Joppa, MD

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#21
Jan 4, 2013
 
Olivia Palmieri wrote:
I am one of several attorneys involved in a class action against Bankers Life related to its senior sales practices. As part of our investigation, I am interested in speaking with anyone (except current employees/agents of Bankers Life) that has factual information related to the practices of Bankers Life. In particular, I am interested in speaking with ex-agents/employees who worked for a Bankers office in the South Central Division/Territory, Northeast Division/Territory, or Florida, although any office is appreciated. You can email me at opalmieri@drllaw.com.
What's in it for me?
Kitty

Joppa, MD

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#22
Jan 4, 2013
 
SAL wrote:
I just looked over my 70 yr old father's financial paperwork for the first time and found that a Bankers Life agent from King of Prussia had scammed him into buying a 50k Universal Life policy that cost him $3200 yr, an annuity that he can't take disbursements from until 2018 and a Medicare Supplement plan. So he won't be able to take any disbursements from his annuity until he's 78 and his life insurance is useless because he'd be better off putting the 3200/yr into a money market account or paying down the 300k dept he has on his property. He has a mortgage on an "investment" property that he pays interest only on because he can't afford the payments but this guy is going to sell him all of his insurance products and make his huge commissions like the senior scamming scum that he is. I'm definitely calling the PA insurance commission and getting to the bottom of this.
Clearly you do not have all the facts or you are simply seeing the ones you want to see because you feel like ranting. Slow down. Get educated on how annuities work. Then comment intelligently. I'm sure your blood pressure is rising now, breath deeply.

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