Conseco Lawsuits

Conseco lawsuits are occurring in increasing numbers. Although Conseco (an Indiana-based Fortune 500 company) notes on its website that "Conseco Inc.'s insurance companies help protect working American families and seniors from financial adversity" with Medicare supplement and long-term care, a great number of people who have policies with a Conseco company have filed bad faith insurance lawsuits—for a number of reasons.

Individual Conseco Lawsuits and Class Actions

While some of the Conseco lawsuits are class actions—with hundreds or thousands of claimants grouped together in a single action—other Conseco lawsuits are individual legal actions. Class action Conseco lawsuits have been used in Texas and Missouri, for example. A state's Attorney General or Commissioner of Insurance is a potential party in a class action regarding insurance, but class actions don't require such a party.

Nursing Home and In-Home Care

Many of the latest Conseco lawsuits are based on denial of (or other problems with) Conseco's long-term care insurance (LTCI), a widely available form of insurance that helps pay for nursing home care, in-home care, or a combination of the two. LTCI policies are becoming more common, especially as baby boomers reach the upper reaches of middle age and consider their long-term health care needs.

LTCI Is a Huge Industry

Professional in-come care and nursing home care are rather expensive and not covered by Medicare. LTCI benefits can help cover the costs. Conseco's insurance subsidiaries—e.g., Bankers Life and Casualty, Colonial Penn Life, and Conseco Senior Health Insurance— have more than 600,000 policies for LTCI in force in the U.S., and a Conseco spokesman recently said that the company paid nearly $650 million in long-term care claims in the last year.

The Conseco long term care bad faith claims are often base on problems such as:

• the unreasonable denial of benefits
• misleading policyholders about rate stability for the LTCI
• unsupportable delays in issuing benefits to policyholders

In addition, many Conseco policy holders will be alarmed to learn that Conseco recently "dumped" about 140,000 of its LTCI policies into a trust, apparently as a measure to stave off insolvency. Conseco has been in serious financial trouble before; it went through bankruptcy proceedings about five years ago, and has more lately been under scrutiny from the Securities and Exchange Commission (SEC).

Learn More about Conseco Lawsuits

If you have a long-term care insurance policy, even if the insurance company administering it is not Conseco, you may want to consult a bad faith insurance lawyer to discuss your concerns. Conseco has subsidiaries that may be in charge of your policy. Protect your rights—contact us to schedule a private consultation today.

Be assured your matters will      be in experienced & caring      hands.