Bankers Life
Bankers Life is a Chicago-based insurance and retirement solutions marketing brand of CNO Financial Group, serving middle-income Americans near or in retirement with Medicare Supplement, life insurance, long-term care, annuities, and wealth management products distributed through 5,000+ agents and 200+ offices nationwide.
- Company typePrivate
- Founded1879
- HeadquartersChicago, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Bankers Life does
Bankers Life and Casualty Company is a Chicago-based insurance marketing brand founded in 1879 and operated as a subsidiary of CNO Financial Group, Inc. (NYSE: CNO). The company focuses on the retirement market, serving middle-income Americans approaching or already in retirement, as well as Medicare beneficiaries and adults aged 50-85 seeking life insurance. Its product portfolio spans Medicare Supplement insurance (underwritten by Washington National Insurance Company), life insurance products (Term, Whole, Universal, Juvenile Whole, and a no-medical-exam Basic Life product with up to $50,000 coverage), Long-Term Care Insurance, Supplemental Health Insurance (Critical Illness and Hospital Indemnity), and Annuities — including the recently launched Enhanced Death Benefit Rider for legacy beneficiary protection, available in 48 states and Washington, D.C. Wealth management and securities services are delivered through affiliated entities Bankers Life Securities, Inc. (a FINRA/SIPC broker-dealer) and Bankers Life Advisory Services, Inc. (an SEC-registered investment adviser).
The company's technology footprint consists of an insurance and annuity product administration platform with online portals serving policyholders, agents, and healthcare providers, plus secure web infrastructure with SSL encryption. Its go-to-market combines a 5,000+ agent field sales network operating from 200+ offices nationwide with direct-to-consumer channels (website, phone, and digital inquiry forms), supplemented by research and content marketing through the Bankers Life Center for a Secure Retirement. Revenue is generated primarily through recurring insurance premiums (Medicare Supplement, life, long-term care), annuity contract revenue, and transaction-based fees/commissions on securities and advisory products. Bankers Life operates across a multi-entity structure spanning Illinois (Chicago), Indiana (Carmel), Pennsylvania (Philadelphia), and New York (Jericho, via Bankers Conseco Life Insurance Company), and maintains a flagship community partnership with the Alzheimer's Association through the Forget Me Not Days campaign dating back to 2003, which has raised more than $8.2 million.
Bankers Life firmographics
Firmographics- Name
- Bankers Life
- Legal name
- Bankers Life and Casualty Company
- Website
- https://bankerslife.com
- Company type
- Private
- Founded year
- 1879
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Bankers Life is a Chicago-based insurance and retirement solutions marketing brand of CNO Financial Group, serving middle-income Americans near or in retirement with Medicare Supplement, life insurance, long-term care, annuities, and wealth management products distributed through 5,000+ agents and 200+ offices nationwide.
- Ownership category
- akta.pro rank
Bankers Life industry classification
Industry- Product category
- Retirement Insurance
- NAICS
- Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Insurance Agencies and Brokerages (52421), Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599)
- SIC
- Life Insurance (6311), Insurance Agents, Brokers & Service (6411), Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)
- akta.pro primary industry
- Whole Life Insurance (FSAIABAA)
- akta.pro secondary industries
- Level Term Life Insurance (FSAIAAAA), Retirement & Pension Planning (401(k)/IRA) (FSAEAAAD), Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail) (FSAAAAAJ), Tax-Advantaged Investing & Wrappers (ISA, 529, Insurance Bonds, etc.) (FSAAAAAL)
Keywords
Where Bankers Life is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Bankers Life business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure
Revenue model
- Insurance Premiums: Bankers Life generates revenue through ongoing insurance premiums from Medicare Supplement, life insurance, and long-term care insurance policies. Premiums are paid by policyholders on a recurring basis.
- Annuity Products: Revenue from annuity products including fixed and variable annuities. Annuities provide guaranteed income streams in retirement and may include surrender charges for early withdrawal.
- Securities and Advisory Services: Bankers Life Securities, Inc. (a broker-dealer) and Bankers Life Advisory Services, Inc. (an SEC Registered Investment Adviser) generate revenue through securities transactions, advisory fees, and commissions on investment products.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Basic Life - Coverage up to $50,000 for ages 50-85 |
| Subscription | Monthly | Medicare Supplement Insurance |
| Subscription | Monthly | Long-Term Care Insurance |
| One time/ perpetual license | Multi-year contract | Annuities |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels9 records
Bankers Life product offering
Product offeringCore offering
Bankers Life sells retirement-focused insurance and financial products, including Medicare Supplement insurance, life insurance (Term, Whole, Universal, Juvenile Whole, and Basic Life), Long-Term Care Insurance, Critical Illness and Hospital Indemnity supplemental health insurance, and fixed and variable annuities. Products are distributed primarily through a nationwide network of more than 5,000 dedicated insurance agents across 200+ offices, with Bankers Life Securities also offering mutual funds, variable annuities, retirement accounts, and advisory services through registered financial advisors.
Product overview
Bankers Life is a retirement and insurance solutions marketing brand of CNO Financial Group serving middle-income Americans. The company offers a comprehensive portfolio of insurance and financial products for retirement planning: Medicare Supplement insurance (underwritten by Washington National Insurance Company), life insurance products including Term, Whole, Universal, and Juvenile Whole Life, Long-Term Care Insurance, Supplemental Health Insurance (Critical Illness and Hospital Indemnity), and Annuities with optional riders like the Enhanced Death Benefit Rider. Additionally, Bankers Life Securities provides wealth management and investment services including mutual funds, variable annuities, and advisory services through its affiliated broker-dealer and investment adviser subsidiaries.
Differentiator
Problem solved
Functional benefit
Brands
- Bankers Life Center for a Secure Retirement: Research and education division dedicated to studying retirement trends and consumer education for middle-income Americans
- Forget Me Not Days
Products and services
- Medicare Supplement Insurance Insurance coverage designed to help pay costs not covered by Original Medicare, including copayments, coinsurance, and deductibles, for Medicare-eligible individuals.
- Term Life Insurance Life insurance providing coverage for a specified term or period, typically 10-30 years.
- Whole Life Insurance Permanent life insurance with guaranteed death benefit and cash value accumulation over the policyholder's lifetime.
- Universal Life Insurance Flexible permanent life insurance allowing policyholders to adjust premium payments and death benefits based on needs.
- Juvenile Whole Life Insurance Whole life insurance designed for children, providing coverage starting at a young age with locked-in rates.
- Long-Term Care Insurance Insurance covering care services for individuals who need assistance with daily activities due to chronic illness, disability, or aging.
- Critical Illness Insurance Supplemental health insurance providing lump-sum payment upon diagnosis of specified critical illnesses.
- Hospital Indemnity Insurance Supplemental health insurance providing fixed daily or periodic benefits for hospital stays.
- Annuities Insurance contracts designed to provide regular income payments during retirement, including fixed and variable options.
- Basic Life Insurance Affordable whole life insurance for ages 50-85 with coverage up to $50,000, no medical exam required, and instant decisions for many applicants.
- Bankers Life Securities Wealth Management Wealth management and securities services including mutual funds, variable annuities, 529 plans, equities, bonds, and ETFs offered through registered financial advisors and supported by complimentary portfolio reviews.
Quantifiable outcome
- 86% of Basic Life applicants are approved
- +2 more outcomes
Companies that use Bankers Life
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Bankers Life technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature2 records
Bankers Life partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship and core.
- Alzheimer's AssociationflagshipSince 2003, CNO Financial Group and Bankers Life have partnered with the Alzheimer's Association through the Forget Me Not Days annual fundraising campaign. The partnership has raised more than $8.2 million for Alzheimer's care, education, and research programs. The 24th annual campaign is ongoing, and the company also sponsors Walk to End Alzheimer's events.
- CNO Financial GroupcoreBankers Life is a marketing brand of various subsidiaries of CNO Financial Group, Inc. (NYSE:CNO). CNO provides life and health insurance, annuities, and financial services through its family of brands including Bankers Life, Colonial Penn, and Washington National.
Scale indicators7 records
Recent moves5 records
Expansion highlights3 records
Bankers Life competitors and assessment
Company assessmentDirect peers
- Transamerica: Transamerica provides life insurance, annuities, Medicare Supplement, and supplemental health products with a focus on retirement and middle-income customers through a combination of agents and digital channels — product overlap is strong with Bankers Life.
- MassMutual: MassMutual is a mutual insurer offering whole life, term life, long-term care, retirement income, and annuities distributed through financial professionals to middle-market U.S. households — an overlapping product set and distribution philosophy with Bankers Life.
- Lincoln Financial Group: Lincoln Financial sells life insurance, fixed and variable annuities, and employer retirement plans to middle-market individuals, with retirement income and annuity accumulation products directly comparable to Bankers Life's annuity and retirement offerings.
- Aflac: Aflac specializes in supplemental health (critical illness, hospital indemnity, accident) and life insurance marketed through employer worksite and agent channels to middle-income consumers, closely matching Bankers Life's supplemental health and life insurance focus.
- Northwestern Mutual: Northwestern Mutual sells whole life, term life, disability income, and annuities through a nationwide financial advisor network to middle-market individuals focused on retirement and income planning, paralleling Bankers Life's retirement-focused, advisor-driven model.
- Mutual of Omaha: Mutual of Omaha offers a near-identical product portfolio (Medicare Supplement, life insurance, annuities, long-term care) targeted at middle-income Americans near retirement, with a comparable agent-driven distribution model — making it the closest direct peer to Bankers Life.
- New York Life: New York Life is a mutual insurer with whole life, term life, long-term care, and annuity products sold through a large captive agent force, targeting retirement and legacy planning for middle-market U.S. consumers — directly overlapping Bankers Life's core offerings and go-to-market.
Broad incumbents
- Prudential Financial: Prudential is a broad financial services incumbent offering life insurance, annuities, retirement plans (401(k), IRA), and investment management. Its retirement solutions span retail and institutional, but its individual annuity and life insurance products overlap Bankers Life's core retail retirement lineup.
- Nationwide: Nationwide offers life insurance, annuities, retirement plans, and specialty insurance through both captive and independent channels across the U.S. Its retail retirement and life insurance products overlap with Bankers Life while operating as a broader financial services incumbent.
Emerging players
- Colonial Penn: Colonial Penn is a sister company under CNO Financial Group, selling direct-to-consumer no-medical-exam life insurance to the mature market. While sharing the parent, its D2C digital model contrasts with Bankers Life's agent-led model, making it a meaningful adjacent peer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Bankers Life social profiles
Digital presenceBankers Life compliance and trust
Trust signalCompliance4 records
Bankers Life financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bankers Life leadership team
Management profileNumber of profiles
Profiles1 record
Bankers Life subsidiaries and ownership
Company hierarchySubsidiaries5 records
Bankers Life funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bankers Life M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bankers Life
What does Bankers Life do?
Bankers Life sells retirement-focused insurance and financial products, including Medicare Supplement insurance, life insurance (Term, Whole, Universal, Juvenile Whole, and Basic Life), Long-Term Care Insurance, Critical Illness and Hospital Indemnity supplemental health insurance, and fixed and variable annuities. Products are distributed primarily through a nationwide network of more than 5,000 dedicated insurance agents across 200+ offices, with Bankers Life Securities also offering mutual funds, variable annuities, retirement accounts, and advisory services through registered financial advisors.
Is Bankers Life a public or private company?
Bankers Life is a private company. It is classified as corporate owned and is currently operating.
When was Bankers Life founded?
Bankers Life was founded in 1879. It employs 101 to 250 people.
Where is Bankers Life based?
Bankers Life is headquartered in Chicago, United States, in the North America region.
How does Bankers Life make money?
Three revenue lines are on record. Insurance Premiums are the primary driver. The others are annuity Products and securities and Advisory Services.
Who are Bankers Life's main competitors?
Direct peers on record are Transamerica, MassMutual, Lincoln Financial Group, Aflac, Northwestern Mutual, Mutual of Omaha and New York Life. Broad incumbents are Prudential Financial and Nationwide. Colonial Penn is listed as an emerging player.
Does Bankers Life have an API?
No public API is recorded for Bankers Life.
What industry is Bankers Life in?
Bankers Life's product category is Retirement Insurance. Its primary akta.pro industry code is FSAIABAA, Whole Life Insurance, with a secondary code of FSAIAAAA, Level Term Life Insurance. Its NAICS code is 524113 and its SIC code is 6311.