Bankers Life Insurance Quotes

Bankers Life presents itself a subsidiary company of CNO Financial Group providing various insurance services to U.S. citizens. Its core market is based on health insurance and therefore retirement and pre-retirement aged individuals whose annual income starts with $25,000. The number of its policyholders is about 1.4 million and so insurance products include, but are not limited to Life Insurance, Long-term Care, Short Term Insurance, Medicare products, Annuities, and some others.

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Bankers Life was established in 1879 in Chicago. Its predecessor was the Hotel Men’s Mutual Benefit Association which began its operations on January 17. In 1935, John D. MacArthur bought the company and developed it till he died in 1978. For this period, he has studied mass-market goods and services in order to study American branding. It allowed him diminishing the price of insurance by making it more moderate and at the same time affordable for Americans with middle income. In 1956, this company was considered one of the biggest companies offering health and accident policies to individuals. The needs and demands of senior sector, which has been growing, were in the limelight of the company, when the President of U.S. established the law about Medical billing. That’s why this company has appeared to be one of the first insurers to develop in this sphere. Upon his death, a major charitable institution, MacArthur Foundation, took control over Bankers Life and sold it later.

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Nowadays it is a subsidiary of a big parental company – the one being operating all over the U.S. It processes more than 8.5 million claims and pays more than $1.3 billion for benefits of policyholders.

Being a health insurance company, Bankers Life provides the following products and services:

Services and Insurance Products

1. Medicare Supplement. It includes several plans: from A to N. They assist in paying for items which Medicare usually doesn’t cover like deductibles, various types of co-insurance, services of physician and ambulance as well. As a result, it’s a good policy for those who can’t afford paying for all services without extra help. So, the retired people are of high priority for this company.

2. Life Insurance. Bankers Life offers 3 types of this policy. The first one is Term Life Policy which provides a special coverage at the rate of a fixed sum of money for a period of a relevant term. Upon its expiration, the coverage is no longer guaranteed and so a client must take some actions to make it forgo or obtain something different. This insurance is one of the most affordable if to take it for a specific time period. The second type is Whole Life Policy that is also called ‘an ordinary life’. Its peculiarity is that it’s in force for a whole insured’s life or to the date of maturity. As they are oriented towards a long period, premiums are usually higher than those for Term Life Policy, where the premium is determined for a fixed period. And the last type of insurance here is Universal Life Policy that presents itself a kind of cash value. It’s calculated every month as it’s debited with a charge of insurance itself. Interests being credited are specified by insurers. Its main advantage is that it renders the guaranteed level premiums within a whole life period. So, these 3 types of policies provide various terms of coverage length, distribution, and accumulation of cash value. Consumers may also compare such offers with Farm bureau life insurance protection.

3. Annuities. The company offers different kinds of it in order to meet the demands of most citizens and render a client-oriented service. So, annuities include, but are not limited to Fixed Interest Annuity, Immediate, and Fixed Index.

4. Long Term Care Policy. There are several types of it offered by Bankers Life. This list is rather long, the most popular are Long Term Insurance policy, the one oriented towards facilities, Home Health Care Policy, Short Term Care, etc.

5. Supplemental Health Insurance. The company renders various options of it and so it covers critical illnesses like heart attack, cancer, and other bad health conditions.

In order to make sure of its affordability and other useful advantages, get a quote. Insurers will estimate possible variants for your particular case taking into account your credit story, health condition, all retirement documents, and other factors which are important for claiming. It’s also worth saying that the company offers special plans called dental and vision ones to increase the number of services offered. It’s possible thanks to its partnership with Humana – a for-profit company providing health insurance. So, it sells products with the help of a special network where more than 5,000 agents work. They are based in 320 nationwide offices to render health insurance services of Bankers Life.