Bankers Life was first established in Chicago during the year 1879. They offer a variety of health insurance and retirement products to seniors, and operate as a subsidiary of the CNO Financial Group. They have over 1.4 million policy holders to date, which includes their Medicare supplement insurance services
Bankers Life offers Medicare supplement insurance to seniors who want to alleviate worries about their medical expenses down the road. They offer 8 of the available 10 plans: A, B, F, G, K, L, M, and N. They may also offer Medicare Advantage and/or Medicare Part D plans in your area through a non-affiliated carrier. Ask your Bankers Life agent for details.
|Medicare Supplement Plans||YES|
|Medicare Advantage Plans||YES*|
|Medicare Part D Drug Plans||YES*|
*These coverages are offered through non-affiliated carriers
You’ll want to make sure you compare rates and quotes from several different companies before you settle for a Bankers Life policy. Below, you can get an idea of how they compare to their competitors based on national averages. The compiled data is displayed in the chart below.
This Table Represents National Average Costs of Medicare Supplement Plans
|Plan Type||Starting From||Part A Deductible||Part B Deductible||Excess||Nursing||Travel|
|Plan C||$118*||$0||$0||Not Covered||100% Covered||100% Covered||Request Info|
|$116*||$0||$0||100% Covered||100% Covered||100% Covered||Request Info|
|Plan G||$105*||$0||$147||100% Covered||100% Covered||100% Covered||Request Info|
|Plan B||$104*||$0||$147||Not Covered||Not Covered||Not Covered||Request Info|
|Plan N||$70*||$0||$147||Not Covered||100% Covered||100% Covered||Request Info|
|Plan D||$97*||$0||$147||Not Covered||100% Covered||100% Covered||Request Info|
|Plan A||$69*||$1||$147||Not Covered||Not Covered||Not Covered||Request Info|
|Plan L||$76*||$304||$147||Not Covered||75% Covered||Not Covered||Request Info|
|Plan K||$45*||$608||$147||Not Covered||50% Covered||Not Covered||Request Info|
|Plan M||$97*||$608||$147||Not Covered||100% Covered||100% Covered||Request Info|
Finding a company’s financial strength rating is an essential part of doing your homework in order to get the best deal on your Medicare supplement plan. Because Bankers Life is such a large and established institution, it has ratings from all three of the top rating agencies. Even though their overall ratings aren’t perfect, they are fairly good for such a large company.
|A.M. Best Rating||B++|
|Standard & Poor’s Rating||BBB+|
*Ratings as of 2/17/15
Bankers life is an established insurance company with a particular expertise in helping senior citizens with Medicare supplement insurance, as well as other financial retirement products. They have experienced some negative backlash from customers in the past over a reluctance to pay claims, but efforts have been made to resolve the issues and re-establish relationships with underserved customers.
Telephone Number: (800) 773-4760
To speak with a person:
Administrative office, Bankers Life
111 E. Wacker Drive, Suite 2100
Chicago, IL 60601
Customers looking to get a rate quote, or learn more about plans have 2 options:
Mon-Fri, 8am-8pm EST