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Top 10 Worst Life Insurance Companies In America

10 Worst Life Insurance

The Top-Rated Life Insurance Attorneys: Ensuring You Get the Benefits You Deserve

When it comes to choosing a life insurance provider, commercials often highlight their commitment to your well-being and peace of mind. A soothing voice assures you that they will be there for you and your family in times of need. However, what they usually don’t discuss is the financial aspect—yet, it’s the primary reason insurance companies seek your patronage. Annually, the U.S. insurance industry rakes in an astonishing estimated revenue of $1 trillion through premium sales alone.

“Big insurance” not only surpasses the national income of many countries but is also keen on maintaining its lucrative status. Unfortunately, one of the easiest ways to do so is by denying claims. While some claims may indeed be rightfully denied, unethical business practices have resulted in the abandonment of loyal customers in pursuit of profit margins.

If your life insurance policy is underwritten by one of the following companies, it may be time to consider a change in your coverage:

1. Allstate – Good Hands Turned Boxing Gloves

Allstate, known for its “good hands,” has been reported to transform those hands into “boxing gloves” when policyholders file a claim. A former adjuster at the company even admitted that employees were instructed to provide false information by their supervisors.

2. Unum – Betrayal of Loyalty

An agent who worked for Unum was shockingly told that her claim for multiple sclerosis would not be honored, despite her years of dedication in selling their disability policies.

3. AIG – Shredding Trust

Claims supervisors at AIG have been linked to several illegal practices, including holding payment checks hostage until customers hired lawyers and shredding important documents during office “pizza parties.”

4. State Farm – Denying Responsibility

After Hurricane Katrina, State Farm denied numerous property claims on the grounds that their customers were not covered for “flood” damage, even when the damages were not water-related.

5. Conseco – Delaying Payments, Exploiting Vulnerability

Conseco, which sells long-term care policies, is notorious for delaying payments to its elderly customers, knowing that with time, some may pass away without receiving the benefits they deserve.

6. WellPoint – Targeting Vulnerable Populations

In 2007, WellPoint faced allegations of canceling policies for pregnant women and chronically ill customers. They eventually settled by paying a fine of $1 million.

7. Farmers – Twisting the Truth

A 60-year-old woman from Washington filed a claim from her hospital bed, only to be told that the driver who hit her had acted “intentionally,” and intentional events couldn’t be counted as accidents.

8. UnitedHealth – Overcharging and Unfair Practices

In addition to unfair claim denials, New York Attorney General Andrew Cuomo accused UnitedHealth of charging its customers excessively for out-of-network office visits.

9. Torchmark – Discriminatory Practices

Torchmark showed a clear bias in 2006 when black policyholders ended up paying 36 percent more for burial and life insurance policies than their white counterparts.

10. Liberty Mutual – Unlawful Policy Non-Renewals

Liberty Mutual faced scrutiny in New York for unlawfully refusing to renew policies for customers who did not possess another form of insurance.

With nearly 250 million Americans carrying some form of insurance, the profits of these companies add up significantly. However, if you assume that these substantial profits benefit their customers, think again. CEOs of life insurance companies are the highest-paid executives in the nation, earning an average of $1.6 million per year.

Your Lifeline When Claims Are Denied

If you find yourself in the unfortunate position of having a rightful claim denied by one of these life insurance companies, don’t despair. We are here to help. The dedicated attorneys at Life Insurance Law can shed light on your provider’s injustices and ensure you receive the settlement you rightfully deserve.

Source: American Association for Justice, “The Ten Worst Insurance Companies in America”

For any inquiries or to schedule your free consultation, please don’t hesitate to contact our firm:

Phone: (215) 531-7961

About Life Insurance Lawyers

Life Insurance Law, LLC is a nationwide network of attorneys committed to assisting clients in recovering denied or delayed life insurance claims. We established this network with one goal in mind: to help people obtain the benefits they rightfully deserve, even after their life insurance claims have been unfairly denied or delayed.

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