CNO Financial Group
CNO Financial Group is a holding company for US insurance subsidiaries that underwrite and distribute life insurance, supplemental health, annuities, Medicare products, and voluntary worksite benefits to middle-income Americans via 5,000+ exclusive and 7,000+ independent agents across 220+ US locations.
- Company typePublic
- Founded1979
- HeadquartersCarmel, United States
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What CNO Financial Group does
CNO Financial Group is a holding company for a family of US insurance companies that design, underwrite, and distribute life insurance, supplemental health, annuity, Medicare supplement, and voluntary worksite products targeted at middle-income Americans and pre-retiree consumers. Operations are conducted through multiple subsidiary brands, including Bankers Life, Colonial Penn, Washington National, Optavise, PMA USA, myHealthPolicy.com, and 40|86 Advisors, giving CNO a segmented multi-brand approach to distinct customer cohorts within the same demographic band.
The company carries approximately 3.2 million policies in force and holds roughly $38 billion in total assets. Its distribution platform combines about 5,000 exclusive agents with 7,000+ independent agents operating across 220+ US locations, supplemented by direct-to-consumer and digital channels. Underwriting, policy administration, and agent productivity are supported by a multi-year $170 million technology modernization program (TechMod) launched in 2025, alongside an internally deployed AI talent platform (NODES) used to accelerate recruiting.
CNO generates revenue primarily through recurring insurance premiums, annuity considerations, net investment income on its general account, and fee-based revenues from distribution and administrative services. The Worksite Division Fee Services Business is being exited in Q1 2026, concentrating the revenue mix on underwriting margin, premium persistence, and investment portfolio yield. Investment-grade ratings from all four major rating agencies and 14 consecutive years of dividend increases reflect the predictability of this earnings stream and CNO's role as a capital-return-oriented specialty insurance holding company.
CNO Financial Group firmographics
Firmographics- Name
- CNO Financial Group
- Legal name
- CNO Financial Group, Inc.
- Website
- https://cnoinc.com
- Company type
- Public
- Founded year
- 1979
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- CNO Financial Group is a holding company for US insurance subsidiaries that underwrite and distribute life insurance, supplemental health, annuities, Medicare products, and voluntary worksite benefits to middle-income Americans via 5,000+ exclusive and 7,000+ independent agents across 220+ US locations.
- Ownership category
- akta.pro rank
CNO Financial Group industry classification
Industry- Product category
- Life and Health Insurance
- NAICS
- Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113), Insurance Carriers and Related Activities (524), Insurance Carriers (5241)
- SIC
- Life Insurance (6311), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Medicare Plan Distribution & Brokerage (Captive, Independent, FMOs) (FSAIAGAH)
- akta.pro secondary industry
- Medigap Distribution & Brokerage (Captive/Independent/IMO/FMO) (HLAEADAD)
Keywords
Where CNO Financial Group is headquartered
LocationHeadquarters
- HQ city
- Carmel
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
CNO Financial Group business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Insurance Premiums: CNO generates revenue through collection of insurance premiums from life insurance, health insurance (including Medicare Supplement, Medicare Advantage, supplemental health, and long-term care), and annuity products. Premiums are recurring in nature as policyholders pay premiums over time.
- Voluntary Insurance Benefits: Employer-paid and employee-paid voluntary insurance products including accident, critical illness, hospital indemnity, disability, cancer, gap and life insurance sold through worksite enrollment.
- Financial Services: Wealth management solutions and investment products including fixed interest, fixed indexed and immediate annuities, providing retirement income solutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Life Insurance Products |
| Subscription | Monthly | Health Insurance Products |
| Subscription | Multi-year contract | Annuity Products |
| Subscription | Monthly | Voluntary Benefits |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
CNO Financial Group product offering
Product offeringCore offering
CNO Financial Group provides life insurance, health insurance, annuities, and financial services to middle-income Americans through a family of brands including Bankers Life, Colonial Penn, Washington National, and Optavise. The company offers 3.2 million policies across term, whole, universal and juvenile life insurance, Medicare Supplement and Medicare Advantage plans, supplemental health, long-term care, fixed/fixed-indexed/immediate annuities, voluntary workplace benefits, and wealth management solutions. With $38 billion in total assets and $2.1 billion in claims paid in 2025, CNO distributes through a 5,000-agent exclusive force, 7,000+ independent agents, and digital channels.
Product overview
CNO Financial Group is a diversified insurance and financial services company serving middle-income America. The company operates through a family of brands including Bankers Life, Colonial Penn, Washington National, Optavise, PMA USA, myHealthPolicy.com, and 40|86 Advisors. Its product portfolio spans life insurance (term, whole life, universal, juvenile), health insurance (supplemental health, Medicare Supplement, Medicare Advantage, long-term care), annuities (fixed interest, fixed indexed, immediate), financial services/wealth management, and voluntary workplace benefits. The brands serve different market segments: Bankers Life and Colonial Penn target pre-retirees and retirees; Washington National and Optavise serve the worksite and employer markets; and 40|86 manages the investment portfolios of CNO's insurance subsidiaries.
Differentiator
Problem solved
Functional benefit
Brands
- Bankers Life: Marketing brand offering life and health insurance products, annuities and investments designed for Americans near or in retirement
- Colonial Penn
- Washington National
- Optavise
- PMA USA
- myHealthPolicy.com
- 40|86 Advisors
Products and services
- Life Insurance
- Medicare Supplement Insurance
- Medicare Advantage Plans and Part D Prescription Drug Plans
- Supplemental Health Insurance
- Long-term Care Insurance
- Annuities
- Voluntary Insurance Benefits
Companies that use CNO Financial Group
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles2 records
CNO Financial Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
CNO Financial Group partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Beyond MonumentalcoreNonprofit organization responsible for the Indianapolis Monumental Marathon. CNO has been title sponsor since 2016 and extended sponsorship through 2028. The marathon is one of the 15 largest in the United States with 13 consecutive sellouts.
- NODES / Saad Bin ShafiqcoreNODES talent intelligence platform deployed at CNO Financial Group across all 215 locations. Platform uses 78 specialized AI agents to analyze patterns in top performers and predict candidate success. Achieved 80% accuracy validated over 10 months, reducing hiring timelines from 127 days to 38 days with $1.58 million in documented savings over three quarters.
- Alzheimer's AssociationcoreCNO and Bankers Life have helped raise more than $7.8 million for the Alzheimer's Association since 2003 through Forget Me Not Days campaign and corporate donations. CNO is a proud supporter of Walk to End Alzheimer's and The Longest Day events.
- American Cancer SocietycoreCNO, Optavise and Washington National supported the American Cancer Society with a $100,000 donation in 2024. Contribution benefits the Road to Recovery program providing transportation to treatment and Hope Lodges nationwide.
- SilverSneakersminorHealth incentive program partner providing fitness and wellness benefits to CNO customers, focusing on preventive care, fitness and healthy aging.
- WholeHealth Living ChoicesminorHealth and wellness program partner offering access to health incentives and programs focusing on preventive care and healthy aging for CNO customers.
Scale indicators19 records
Recent moves7 records
Expansion highlights5 records
CNO Financial Group competitors and assessment
Company assessmentDirect peers
- Lincoln National Corporation: Lincoln National underwrites life insurance, annuities, and retirement plans, with a strong middle-income and worksite distribution channel. Highly comparable to CNO in product mix (life/annuities/retirement) and customer focus.
- Globe Life: Globe Life underwrites life and supplemental health insurance marketed to middle-income Americans through agency and direct-to-consumer channels. Directly comparable in target demographic and product categories.
- Voya Financial: Voya offers retirement plans, annuities, and individual life insurance with a focus on workplace and middle-market customers. Comparable retirement/annuity mix and worksite distribution.
- Brighthouse Financial: Brighthouse specializes in annuity and life insurance products, including fixed and indexed annuities for retirement income. Closely comparable annuity-led product mix to CNO's 40|86/Bankers Life annuity offerings.
- Unum Group: Unum is a leading provider of group and individual disability, life, and supplemental health insurance, including worksite/voluntary benefits. Comparable to CNO in supplemental health, voluntary/worksite, and group benefits.
- Corebridge Financial: Corebridge provides individual retirement, life insurance, and group retirement products to middle-income and mass-affluent customers. Comparable in retirement and life insurance product set and distribution.
- Primerica: Primerica distributes term life insurance and investment products primarily to middle-income households through a large sales force. Closely mirrors CNO's middle-income focus and agent-driven distribution model.
Emerging players
- SelectQuote: SelectQuote is a direct-to-consumer insurance distributor focused on life and senior health products including Medicare. Competes for the same middle-income/Medicare customer through a digital-led model, contrasting CNO's agent-led approach.
Broad incumbents
- MetLife: MetLife is a global insurance and benefits leader offering life, annuities, and group benefits including voluntary worksite products. Overlaps with CNO in life/annuities/benefits but at materially larger scale and broader geographic reach.
- Humana: Humana is a leading Medicare Advantage insurer and supplemental benefits provider. Overlaps with CNO's Medicare Supplement/Advantage business but operates at significantly larger scale and broader portfolio.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
CNO Financial Group social profiles
Digital presenceCNO Financial Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
CNO Financial Group leadership team
Management profileNumber of profiles
Profiles12 records
CNO Financial Group subsidiaries and ownership
Company hierarchySubsidiaries8 records
CNO Financial Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CNO Financial Group M&A and investment
M&A and investmentM&A2 records
Investments6 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CNO Financial Group
What does CNO Financial Group do?
CNO Financial Group provides life insurance, health insurance, annuities, and financial services to middle-income Americans through a family of brands including Bankers Life, Colonial Penn, Washington National, and Optavise. The company offers 3.2 million policies across term, whole, universal and juvenile life insurance, Medicare Supplement and Medicare Advantage plans, supplemental health, long-term care, fixed/fixed-indexed/immediate annuities, voluntary workplace benefits, and wealth management solutions. With $38 billion in total assets and $2.1 billion in claims paid in 2025, CNO distributes through a 5,000-agent exclusive force, 7,000+ independent agents, and digital channels.
Is CNO Financial Group a public or private company?
CNO Financial Group is a public company. It is classified as public and is currently operating.
When was CNO Financial Group founded?
CNO Financial Group was founded in 1979. It employs 1,001 to 5,000 people.
Where is CNO Financial Group based?
CNO Financial Group is headquartered in Carmel, United States, in the North America region.
How does CNO Financial Group make money?
Three revenue lines are on record. Insurance Premiums are the primary driver. The others are voluntary Insurance Benefits and financial Services.
Who are CNO Financial Group's main competitors?
Direct peers on record are Lincoln National Corporation, Globe Life, Voya Financial, Brighthouse Financial, Unum Group, Corebridge Financial and Primerica. SelectQuote is listed as an emerging player. Broad incumbents are MetLife and Humana.
Does CNO Financial Group have an API?
No public API is recorded for CNO Financial Group.
What industry is CNO Financial Group in?
CNO Financial Group's product category is Life and Health Insurance. Its primary akta.pro industry code is FSAIAGAH, Medicare Plan Distribution & Brokerage (Captive, Independent, FMOs), with a secondary code of HLAEADAD, Medigap Distribution & Brokerage (Captive/Independent/IMO/FMO). Its NAICS code is 52411 and its SIC code is 6311.