World Insurance Company - World Insurance Co and Central Reserve Life
This is a company owned by Mutual of Omaha. They own several insurance companies and what the scam is as follows:
Get people to sign up for health insurance. Get their premiums for several years and when the insurance company wants to get rid of you, transfer everyone over to a different company. In this case, Mutual of Omaha wanted to get rid of clients in Central Reserve Life that just would not go away. Two years ago they transferred 1,000's of clients over to World Insurance Company. At the end of 2011, all these people were informed that World Insurance Company was no longer doing business in their state, so all insurance would terminate on 06/01/2012. The Internet shows them doing this in Kansas and Colorado, In fact, they have done this in all 50 states. This is the only way they can drop 1,000's of people legally.
This is not the first time they have done this and this will not be last. Legal but not moral. To add insult to injury, World has continued to send out premium due statements to 1,000's of clients for the month of June, 2012 even though coverage is finished/terminated as of June 1st, 2012. World Insurance will now sit on a shelf somewhere for a few years and they will than do this all over again.
Don't you just hate them for this. Make no mistake about this, State Insurance Departments know about this tactic and there is nothing they can do about this. It is legal.