Bankers Life fined for manipulating seniors

“Maine Insurance Superintendent Mila Kofmann says that, under the settlement, Bankers Life and Casualty Company has also agreed to offer refunds, plus interest, to any consumers who answered Medicare solicitations from the company and then were sold others Bankers Life insurance products. ..

The case stems from a complaint by an 80-year-old consumer who had answered a mailing from Bankers Life offering information about Medicare benefits and deductibles.  Kofmann says the women was persuaded by two Bankers Life agents to put most of her savings into an annuity.

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