Twenty-five years ago, my aunt puchased a long-term health care policy from Bankers Life and Casualty Company. Four years ago at the age of 82 she had become incapacitated and needed to be admitted to a nursing home faciltiy.
As she had no children, and her husband had passed away, I was the only relative left to help her. She thought with this policy she would be well taken care of when time came. She is not able to handle any of the paperwork so I take care of it for her. Bankers Life has NEVER, EVER paid her care faciltity on time. They require a statement from the care center be faxed to them ON the 20th of each month.
Not a day before or a day after. Since the care center does not do this, it means that on the 20th of each month, I have to be home—or somewhere I can fax it. Bankers Life has every excuse known to man on why they cannot process reimbursements in a timely manner. Their last excuse was that they had changed the fax number in December.
They had not even notified me of the change—also, it was a downright lie since they had received December and January statements without any problem. It's a continual fight with them. I have to plan to be on the phone for 2 hours when I call them (which is every month). I have so many more stories about them but there isn't room enough on this page.
If my aunt did not have me to take care of these problems on her behalf, I cringe to think of what would happen to her. I often think about all the other unfortunate seniors who bought this type of policy from Bankers Life and are getting hosed. Just think of the money Bankers makes each month by not paying their policy holders on time, by pushing payments out weeks even months. Each day they don't pay a policy holder, the interest they receive on that money can add up to millions. They are truly cons.
0 comments