| Type | Subsidiary |
|---|---|
| Industry | Health Insurance |
| Founded | 1879 |
| Headquarters | Chicago, Illinois, USA |
| Products | Medigap Policies, Long Term Care Insurance, Home Health Care Insurance, Short Term Care Insurance, Life Insurance, and Annuities |
| Parent | CNO Financial Group, Inc. |
| Website | http://www.bankers.com/ |
Established in 1879 in Chicago, Bankers Life and Casualty Company focuses on the insurance needs of the retirement market. The nationwide company, a subsidiary of CNO Financial Group, Inc. (formerly Conseco), offers a broad portfolio of life and health insurance retirement products designed especially for seniors.
Bankers has more than 1.3 million policyholders and offers a comprehensive portfolio of insurance products including long-term care and life insurance, annuities, and Medicare products including supplement plans, Medicare Advantage Plans and Medicare Part D prescription drug coverage.
The Wall Street Journal reported that Bankers also offers vision and dental plans through a partnership with Humana.[1]
The company sells its products through a network of over 5,000 insurance agents based in over 200 nationwide branch offices.
In business since 1879, the company was developed and owned by Chicago insurance man John D. MacArthur since 1935. At the time of his death in 1978, control of the company passed to the John D. and Catherine T. MacArthur Foundation, a major charitable institution in the U.S. The foundation later sold Bankers Life and Casualty Company.
Today, Bankers is a subsidiary of CNO Financial Group, Inc., a holding company for a group of insurance companies operating throughout the United States.
As of 2010, Bankers has $13 billion in assets under management. In 2010, Bankers processed more than seven million claims and paid out more than $1.1 billion in policy benefits.
Bankers was named one of the top 10 long-term care insurers in 2009 by LIMRA.[2]
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Bankers Life and Casualty Company Center for a Secure Retirement conducts studies and consumer awareness campaigns to provide insight and practical advice for how everyday Americans can achieve financial security during retirement.[3]
U.S. News and World Report referenced a recent study conducted by Bankers Life and Casualty in an article titled "A Dozen Big Changes in Perceptions About Retirement." The Bankers study, titled "Middle-Income Boomers, Financial Security and the New Retirement," found that nearly 3 of every 4 middle-income Baby Boomers are rethinking their retirement date, and of these, 79 are delaying their retirement by an average of five years. [4]
Bankers is a national sponsor of the Alzheimer's Association. Since 2003, the company has organized Forget Me Not Days, its annual nationwide fundraising campaign to collect donations for the Alzheimer's Association and raise public awareness of the disease.
In 2011, Bankers contributed $386,000 to support the care, support and research efforts of the Alzheimer's Association through the fundraiser and a separate corporate donation, up from $338,000 in 2010.[5] Since 2003, Bankers has supported the Association with more than $2.4 million for care, education and research programs.[6]
Bankers also supports Meals on Wheels Chicago. In 2010, the company made a $20,000 donation to aid Meals on Wheels Chicago. Since 2004, Bankers has transferred $200,000 to Meals on Wheels Chicago for programs, services and fundraising initiatives.[7]
On December 22, 2011, CNO Financial Group, Inc. and Pacers Sports & Entertainment announced that Conseco Fieldhouse, the home of the Indiana Pacers, would be renamed the Bankers Life Fieldhouse.[8]