Conseco Insurance Review & Complaints: Life & Health Insurance (2023)

Who owns Conseco? Conseco Insurance Company is a subsidiary of CNO Financial, and the company was merged along with Conseco Health Insurance Company into another CNO subsidiary, Washington National Insurance Company. The combined company writes life insurance and supplemental health insurance policies across the country.

Who is Conseco Insurance?

Who bought Conseco Insurance? Conseco Insurance Company is headquartered in Carmel, Indiana, and is a part of Fortune 500 company CNO Financial Group, which previously operated under the Conseco name.

The website is still in operation with limited functions but states that the company and its insurance operations have been merged into Washington National Insurance. Existing policyholders can still be assisted through the old website, but all new business appears to go through the Washington National site. The only further information we could locate on the merger indicates that it took place in 2009. You can find more information on Washington National by reading our Washington National insurance review.

Currently, the website provides an access point for existing customers to their policies, and there is no sign that the company plans to stop servicing those policies or transfer them into the new name. Those in search of a new supplemental health or life insurance policy in the insurance industry are directed to the Washington National Insurance website.

Washington National has been in business since 1911 and has its headquarters in the same shared location as Conseco. Products are sold through independent agents and are available for individuals as well as for employers seeking to provide voluntary benefits.

What types of insurance products are offered?

Since there is no listing of new products on the website, we will focus on the Washington National product lineup. Some of these products are only available as voluntary workplace benefits, while others can be purchased by individuals.

Types of Life Insurance Coverage

Three types of life insurance are available: term life insurance, whole life insurance, and indexed universal life insurance protection. Further details are not provided for any of these, only a brief overview of the type of policy. There are brochures available in PDF form, but again these only give general information on the policies.

All of the life insurance plans appear to be available for purchase directly, and not only as workplace benefits. Both term and universal life can be selected by employers as voluntary benefits. Readers should also become educated about indexed universal life insurance pros and cons when shopping for life insurance.

Health Insurance Products

There are three different supplemental health plans offered, although again the information offered is limited.

The Accident and Disability supplement insurance plan provides benefits for a variety of injuries and can also include a sickness disability benefit rider that provides coverage for illness as well as injury. This plan is only offered through workplace benefits.

Cancer and Critical Illness coverage appears to be available individually and provides benefits for treatment and care related to cancer or a list of specified critical illnesses. This policy pays out a lump sum benefit that can be used for any expenses at the insured’s discretion. This plan is available individually and as an employee benefit. Finding life insurance for cancer patients can be easier if you research your options online.

Hospitalization and ICU is the third product listed. This plan is designed to help cover the out-of-pocket expenses incurred during a stay in the hospital or ICU. Again, the plan appears to be offered to individuals directly and not only as a workplace benefit.

Does the company offer competitive rates?

Rate information is not provided on the Washington National website. The site does offer assistance with finding an agent locally, through which further plan information and rate quotes can be obtained.

As a general rule, individual policies will be more expensive than those offered as voluntary benefits. Group policies have lower premiums per person due to the nature of the plan, which is why they are seen as a workplace benefit.

Conseco Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Conseco Insurance Company, now merged with Washington National Insurance Company, offers policyholders the convenience of filing claims through their website.

While the website provides access to claim forms and information, it’s worth noting that existing policies are still serviced under the Conseco name, but claims are being handled by the merged company. Policyholders can find the necessary claim forms on the website, and some of these forms can be filled out online for added convenience.

Additionally, a toll-free customer service line is available for those who prefer phone assistance. However, it’s important to mention that the claim information on the website is somewhat limited and can be a bit challenging to locate.

Average Claim Processing Time

The article does not provide specific information about the average claim processing time for Conseco Insurance or Washington National Insurance. This information may vary depending on the type of insurance policy and the complexity of the claim.

Policyholders are advised to contact the insurance company directly or consult their policy documents for details on claim processing times.

Customer Feedback on Claim Resolutions and Payouts

The article does not provide detailed customer feedback on claim resolutions and payouts for Conseco Insurance or Washington National Insurance. However, it mentions that Washington National has an A+ rating with the Better Business Bureau (BBB) and has received 46 complaints in the past three years.

Customer reviews on the BBB page resulted in an overall one-star rating, with complaints primarily related to billing and claims issues. For a more comprehensive understanding of customer experiences, individuals may need to explore additional sources of reviews and feedback.

Digital and Technological Features of Conseco

Mobile App Features and Functionality

The article does not provide specific information about mobile app features and functionality offered by Conseco Insurance or Washington National Insurance. Policyholders interested in mobile app features are encouraged to visit the insurance company’s official website or contact their customer service for details about available mobile apps and their capabilities.

Online Account Management Capabilities

While the article mentions that policyholders can access claim forms and information through the company’s website, it does not provide comprehensive details about online account management capabilities.

To learn more about the online account management features offered by Conseco Insurance or Washington National Insurance, individuals should visit the official website or contact the insurance company directly.

Digital Tools and Resources

The article does not elaborate on specific digital tools and resources provided by Conseco Insurance or Washington National Insurance. To explore the digital tools and resources available to policyholders, individuals are encouraged to visit the insurance company’s official website for a comprehensive overview of the services offered online.

Are the ratings and consumer reviews positive?

Conseco Insurance Company is not rated by the Better Business Bureau (BBB), but Washington National is, with an A+ rating. There are 46 complaints on file in the past three years. 20 customer reviews have been left on the page for an overall one-star rating. The complaints cite problems with billing and claims issues. For a company of this size, the complaint volume is low. The company has responded to each of the reviews.

We were unable to find much else in terms of reviews for either company, although Consumer Affairs does have a page for reviews of Conseco Life Insurance under the CNO Financial name. It is difficult, due to the mergers and name changes, to determine whether these reviews apply to policies with the merged company under the Washington National name. CNO Financial sold off Conseco Life Insurance Company in 2014.

Conseco Life Insurance Company: What’s the bottom line?

Conseco Insurance Company no longer exists as an independent entity and does not write new business. Washington National, which has absorbed the company, has a good reputation, but a somewhat confusing website that provides limited and mainly generic information about their products. Those in search of a straightforward and simple insurance purchasing experience may want to shop or at least compare their options elsewhere.