Bankers life insurance ↝ Life insurance

New complaint alleges ‘massive fraudulent scheme’ by NC political donor recently released from federal prison ::

By Travis Fain, WRAL state government Greg Lindberg, the North Carolina businessman accused of trying to bribe the state’s insurance commissioner, raided his own insurance companies in a “massive fraudulent scheme,” the U.S. Securities and Exchange Commission said in a complaint filed Tuesday in federal court. The regulator alleged that Lindberg, once North Carolina’s largest political donor, and an associate looted more than $75 million from Lindberg’s insurance companies, compromising the companies’ liquidity and leading to a state takeover of the insurers that has kept policy holders from receiving payments. The money flowed through a Malta-based advisory firm through complicated schemes...

American Bankers Life Assurance Co. Hit with Class Action Over Alleged Automatic, Unauthorized Premium Withdrawals

A proposed class action claims American Bankers Life Assurance Company of Florida has a practice of continuing to automatically withdraw bank loan insurance premiums from policyholders’ accounts even after the loans have been paid off. The case alleges the defendant has “never sent policy updates or premium notices” to policyholders yet has continued to collect premium payments while the insureds may not be aware that a policy even exists. The lawsuit, which has been removed from Raleigh County, West Virginia Circuit Court to the state’s Southern District Court, claims American Bankers has violated West Virginia law, its own written policies, and ethical standards of good faith and fair...

Bankers Life Raises More for Alzheimer’s Association, ThinkAdvisor

Bankers Life and its parent, CNO Financial Group, have raised $426,395 for the Alzheimer’s Association through this year’s Forget Me Not Days campaign. Bankers Life — a company that still writes stand-alone long-term care insurance, along with life insurance, annuities and supplemental health insurance products — raised $424,000 in 2021, Bankers Life has been organizing the Forget Me Not campaigns for 20 years. This year’s total is the most the company has contributed to the Alzheimer’s Association since 2017, when it sent the association $430,000. The contributions support association efforts to fight Alzheimer’s Disease and other forms of dementia. In 2020 and 2021, while the COVID-19...

Insurance policy was illegal wager on stranger’s life, appeals court holds, Reuters

(Reuters) - Sun Life Assurance of Canada does not have to pay a $5 million death benefit on a life insurance policy because it was an illegal “wager on the life of a stranger,” a federal appeals court held. The 7th U.S. Circuit Court of Appeals affirmed on Wednesday that former Illinois business owner Robert Corwell was acting as a straw man for an investment company, Coventry Capital, when he “seemed to buy” a policy on his own life in 2006. Since Coventry and Corwell had no other relationship, the policy was an unlawful stranger-originated life insurance (STOLI) policy and void from the outset, Circuit Judge David Hamilton wrote for the three-judge panel. The decision is a loss for Wells...

CNO Financial Group and Bankers Life Raise More Than $426,300 in Support of the Alzheimer's Association

CARMEL, Ind., Aug. 18, 2022 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO ) and Bankers Life announced today a contribution of $426,395 to the Alzheimer's Association for Alzheimer care, education, and research programs. This is the 20 year CNO and Bankers Life have supported the Alzheimer's Association through our national Forget Me Not Days® fundraiser. "We see firsthand the impact that Alzheimer's and all other dementia have on our associates, customers, their families and their caregivers," said Bruce Baude, chief operations and technology officer for CNO Financial and member of the national board of directors of the Alzheimer's Association. "We are proud to partner with the...

North Carolina Insurance Commissioner Mike Causey receives court approval to modify moratorium on Greg Lindberg’s financially impaired Colorado Bankers and Bankers Life Insurance Companies, NC DOI

North Carolina Insurance Commissioner Mike Causey receives court approval to modify moratorium on Greg Lindberg’s financially impaired Colorado Bankers and Bankers Life Insurance Companies Order allows annuity contract owners to withdraw limited funds to help during the pandemic North Carolina Insurance Commissioner Mike Causey announced Friday that the Wake County Superior Court has granted him flexibility so he can help people holding annuity contracts with two insurance companies, Colorado Bankers Life Insurance Co. and Bankers Life Insurance Co., now in rehabilitation under the Department’s oversight. The order will allow the annuity contract owners with these two companies to have a...

Bankers Life Introduces New Set of Medicare Supplement Insurance Plans

CHICAGO, June 8, 2022 /PRNewswire/ -- Bankers Life, a national life and health insurance brand that focuses on the insurance needs of Americans who are near or in retirement, announced today a new set of Medicare Supplement insurance plans that better addresses consumers' health care needs. "These plans are great for consumers who value the freedom to choose their own providers and gain access to services," said Scott Goldberg, president of the Consumer Division. "With health care costs continuing to rise, our enhanced Medicare Supplement offerings will help protect consumers against unexpected expenses and minimize the financial burden." Through its new offering of GenHealthy Medicare...

How to get to Manila Bankers Life Insurance Corp. in Makati City by Bus or Train?

Bus stations near Manila Bankers Life Insurance Corp. in Makati City Train stations near Manila Bankers Life Insurance Corp. in Makati City Bus lines to Manila Bankers Life Insurance Corp. in Makati City What are the closest stations to Manila Bankers Life Insurance Corp.? The closest stations to Manila Bankers Life Insurance Corp. are: Ayala Ave, Makati City, Manila is 47 meters away, 1 min walk. Glorietta 3 is 199 meters away, 3 min walk. Makati Ave / Ayala Avenue Intersection, Makati City, Manila is 346 meters away, 5 min walk. Ayala Center is 370 meters away, 5 min walk. Landmark Makati is 432 meters away, 6 min walk. Epifanio De Los Santos Avenue, 10 is 469 meters away, 7 min walk....

Bankers Life Introduces New Set of Medicare Supplement Insurance Plans - Jun 8, 2022

CHICAGO, June 8, 2022 / PRNewswire / -- Bankers Life, a national life and health insurance brand that focuses on the insurance needs of Americans who are near or in retirement, announced today a new set of Medicare Supplement insurance plans that better addresses consumers' health care needs. "These plans are great for consumers who value the freedom to choose their own providers and gain access to services," said Scott Goldberg, president of the Consumer Division. "With health care costs continuing to rise, our enhanced Medicare Supplement offerings will help protect consumers against unexpected expenses and minimize the financial burden." Through its new offering of GenHealthy...

Judge: NC insurance mogul defrauded companies he invested in ::

RALEIGH, N.C. — A North Carolina insurance magnate must give up control of his private companies to comply with a 2019 agreement to ensure several insurers within his business empire are paid over $1 billion, a state judge has ruled. Ruling in a civil lawsuit from which he heard testimony almost a year ago, Superior Court Judge Graham Shirley wrote that Greg E. Lindberg had failed to carry out his side of a memorandum of understanding, WRAL-TV reported. Shirley decided that Lindberg, who is currently serving federal prison time after being convicted in 2020 on corruption-related criminal charges, put up obstacles to cede control, even though he and his companies benefited from the...