Four Oregon residents are accusing an insurance firm of elderly abuse in a federal class-action lawsuit recently filed in a Portland U.S. District Court. The lawsuit accuses Bankers Life and Casualty Co. of wrongfully increased premiums without enhanced benefits. They are also accused of delaying insurance claims and making their long-term care clients jump through hurdles and massive red tape. The company has long been the target of complaints and civil litigation in Oregon and was recently found to have breached a long-term care insurance contract with a client, who has since passed away.
Insurance is intended to provide its holders with a sense of security and peace of mind. When the unexpected occurs, insurance should be there to lessen the financial and psychological strain. This is why individuals pay such a premium to have it.