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Saturday, May 31, 2008


Anonymous said...
Do Not fall victim to BANKER'S LIFE & CASUALTY fraudulent practices!
Mother died back in December, 2007, leaving two annuities. The one left to her second husband was eventually paid to his power of attorney. Banker's has yet to honor the claim for the second, left to her sister, two daughters and a foster child.

First Bankers tried to tack on two extra beneficiaries. No explanation how they got there. They weren't added through her agent or anyone else at the local branch. Yet they were perfectly fine with it. Covering for larcenous home office executives, perhaps? These names disappeared two weeks after we started questioning it.

Then came the phony excuses: "A lot of people died this month. We're back-logged." "Your claim was directed to the wrong department."

By the end of February we began to ask why the annuity was never distributed. A letter came that alluded to a previous letter (never received) asking for three documents from each beneficiary they must have before payment. We complied immediately.

Another month passed. We called again. It seemed there were other forms we needed to send. As before I sent them out to the others to be signed and returned. Two weeks later I was assured everything was in order. It would be paid in 10 to 20 business days.

Another month passed. We called again. Now they discovered the policy was written in a strange way with Mother as the owner and me as the annuitant. It was no longer a death claim; it was a surrender. More forms. It would be processed within 20 business days. Nothing.

I called again and so did my agent. The forms were received. Everything's in order. Please allow 10 business days. In the meantime I got a weird letter saying they were changing my address "as requested to "c/o (my name) Friendswood, Tx."

Ten days later I called again to be sure they had my address right. I also asked if the check had been issued. It hadn't. They faxed me another form, which I filled out and returned. By now it is quite clear that they will not be paying the claim. We are exploring legal action.

May 31, 2008 8:12 AM

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