Bankers Life is in the market since 1879 as a health insurance provider. The company is working as a subsidiary of CNO Financial Group offering products; long term care, short term care, home, health and life insurance with annuities and Medigap policies.
The company is in demand serving over 1.4 million policyholders through a network of 5,000 insurance agents in over 320 office locations throughout the United States.
Bankers Life came in the market in 1879
In January 1879, the company got established as the Hotel Men's Mutual Benefit Association. The company came under John D. MacArthur in 1935 who worked on providing an affordable and convenient insurance plan in the American market.
The scheme worked best in attracting the attention of middle-income Americans thus becoming the largest insurance company of the United States by 1956.
Bankers Life next worked on issuing the Medicare supplement insurance when President Johnson introduced Medicare bill into law. After MacArthur's death, the company came under the control of John D. And Catherine T. MacArthur Foundation and then was sold out to CNO Financial Group.
Now the company is a subsidiary of the latter organization and is headquartered in Chicago, Illinois, United States. Edward M. Berube is serving as the CEO of the company and also got chosen to be the national Board of Directors of the Alzheimer's Association.
In 2011, its parent organization with Indiana Pacers Sports & Entertainment announced their partnership for Bankers Life Fieldhouse known for conducting feature events like the U.S. National Gymnastics Championships in 2015.
What options did they provide in products and services?
Bankers Life is considered as the marketing brand of Bankers Life and Casualty Company. They offer products from health, life, and home insurance to retirement plans with annuities.
The Medicare supplement insurance by them is issued by Colonial Penn Life Insurance Company offers the following benefits;
• Under the policy, one gets permanent coverage even if one suffers from a health problem.
• One gets an option to lower their out-of-pocket costs.
• The coverage travels with the policyholder.
• One gets the option to pay a visit to any hospital and to keep one's doctor without any referrals.
Even their long term care insurance plans work best during the days of retirement by paying cash benefits for the elderly and providing them the control of deciding the place to receive care.
In the retail market, they are serving customers with annual household incomes between $25,000 and $75,000. They are also in partnership with Humana to offer vision and dental plans.
Do the company stand on top ratings?
Yes, the company stands on top ratings given by independent financial institutions but still, there is a lot more left to be desired:
• A.M. Best rated it A-
• Fitch gave BBB+,
• Moody's gave it Baa1,
• Standard & Poor's gave BBB+ and
• Comdex gave it 56th rank.
Bankers Life has got such success for being backed by trusted financial strength in the market. They have grown far since the 1880s based on their affordable rates from several insurers with safer and less risky solvency.
Company's financial stats
On the financial stats list, the company accounts for $19 billion assets under management in 2015 and has paid claims of 8.5 million for the fiscal year 2012.
Why prefer Bankers Life?
Making the right choice to plan for future offers peace of mind and to do so Bankers Life is always ready to advise on the aspect. They have a core focus on maintaining the integrity, excellence, and teamwork in the company to provide the best service.
They work on securing the family's financial future by building a strong relationship with customers.
With their life insurance plans, they guarantee for full protection and death benefits to their policyholders. Bankers Life helps out to manage medical costs with supplemental health insurance thus lowering the financial burden.
Even their retirement plans with annuities boost customer's confidence to stay road ahead and to last the life of one's retirement.
Bankers Life newsroom
Bankers Life and CNO Financial Group came in support of the Alzheimer Association in August 2019 with $369,000 to carry out research, care, and support in the respective direction.