Bankers Life

Reviews

• MD

  Michael Dockery

  3 days ago
  5.0
  I previously had a term policy that another company sold me. I asked them about whole life options, and they said I couldn't "afford" a whole life policy. Bankers Life was able to give me the same term policy I had as a rider, and issue me a Universal Whole Life Policy on top of that too! I have unbelievable coverage for my family with Bankers Life at the same price as my old term only policy. Bankers is serious coverage for serious people. I'm very happy with my policy and their customer service too!
• KR

  Keith Roska

  Sep 12, 2025
  4.0
  After I told the salesman that I didn't have a large retirement account they can't be reached. Even though they promised to help me with Medicare enrollment. Deceptive practices is still what they do. Avoid at all costs.
• AE

  Annie Elmer

  Dec 23, 2022
  1.0
  Mom and dad have invested a lot of money in long term care insurance with Bakers Life. There's a 30 day elimination period for their policy. Dad didn't live long enough to qualify for a claim so the very expensive premiums will be lost. He was diagnosed with 2 cancers in 2020 and because he could dress himself and go to the bathroom, he didn't qualify for a claim. He had pneumonia in October 2022, fell November 16, had a heart attack and ended up needing 24/7 care. But the 30 day elimination period didn't start until he came home November 29 and died December 12 so that didn't meet the elimination period. If you're considering buying this type of insurance, please consider what condition will consider you eligible to receive a claim and will you live long enough in that condition for you to receive benefits. You have to be in terrible shape before the 30 day period even begins. I just found this statistic: "However, half of long-term care insurance policyholders die before ever using their benefits, according to the AALTCI. For the majority who purchase coverage that doesn't begin paying until 90 days after the covered individual begins needing long-term care, only 35% ever use their benefits, AALTCI found.May 24, 2022" I couldn't find statistics showing how little money the 50 percent who qualified for benefits actually received. Is it worth spending more money on mom's policy with these odds? Or investing those future premiums to make sure there's an account to live off if the needs arise?
• DB

  Duane Berg

  Feb 24, 2019
  1.0
  My mother in-law paid thousands into a long term health care policy into this company. So when she needed to go into hospice we contacted them and told them where she was going and when. She passed away 17 days later. When we went to collect the mere $100 a day it should have paid out they told us the place we took her (A HealthEast Facility} wasn’t covered. Really? It’s only a $100 a day. A small fraction of what Hospice or Long Term care is. This company is rippping off seniors and their families

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