Bankers Fidelity Medicare Review

Bankers Fidelity has over 60 years of experience providing life insurance and supplemental insurance to Americans. Focused on the needs of seniors, the company serves most of the country.

About Bankers Fidelity

Bankers Fidelity Life Insurance Company was founded in 1955 in Atlanta, Georgia, and has since expanded to cover 46 states and the District of Columbia. In 1975 Atlantic American Corporation, another Georgia-based insurance company, acquired Bankers Fidelity as a wholly owned subsidiary. The company’s reach was expanded in 2014 when Atlantic American acquired Direct Life Insurance Company and renamed it Bankers Fidelity Assurance Company, making it a subsidiary of the original Bankers Fidelity Life Insurance.

Bankers Fidelity focuses its product lineup on the needs of seniors, writing life insurance policies that include final expense life, short-term care insurance, and Medicare Supplement. Product offerings differ from state to state.

The company headquarters remain in Atlanta, and the company sells products through independent agents across their coverage area.

Medicare Supplement

Medicare Supplement is currently the only Medicare product offered by Bankers Fidelity, and it isn’t available in all states. In spite of covering most states, Bankers Fidelity does not offer any products in California, where we usually run our comparisons. As a result, we utilized product information for the company’s home state of Georgia for this review.

Unfortunately, the website does not list any details of the available policies; there is not even a list of which of the standardized plans are available. As with all companies offering Medicare Supplement, we know that Plan A is a requirement, but there is no way of knowing what other plans the company has as options.

This leaves us unable to provide any information on the plans, and also unable to compare them to the offerings of other similar companies.

Medicare Rates

Not surprisingly since there are no details of the plans available online, there are also no rates available.

The website invites visitors to call a toll-free number or fill out an online form in order to get more information and a quote. This is a common procedure for companies of this nature, particularly those that focus on the senior market, but it can result in unwanted solicitation. It also takes away the ability to compare rates quickly and easily on your own schedule.

Ratings and Reviews

We were unable to locate a Better Business Bureau (BBB) record for Bankers Fidelity, which is surprising given the length of time they have been in business. The parent company, Atlantic American, does have a record with an A+ rating. They have only one complaint in the past three years, and none closed in the past 12 months.

Similar to the lack of BBB record, there is not much in the way of reviews of Bankers Fidelity online.

Overall, the information regarding this company’s reputation is very limited.

The Bottom Line

There is simply not enough information about Bankers Fidelity, either regarding their products or their reputation, to provide a recommendation. This type of company generally acquires new business through agents or word of mouth, and is likely to appeal mainly to those buying coverage through an existing agent relationship.

For a list of companies that we recommend, visit our Best Insurance Companies page.

Review Information