Bankers Life Medicare Plans
Affiliated Brand Names
- Bankers Life and Casualty Company
- Bankers Conseco Life Insurance Company (New York)
- Colonial Penn
Company Overview
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 supplement insurance services
Company Highlights
- Founded in 1879 in Chicago, IL
- More than 5,000 agents working out of 275 offices nationwide
- Manages over $14.5 billion in assets as of 2012
- Paid out only $1.3 billion for 8.5 million claims in 2012
Medicare Plans Offered
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
Bankers Life Premium Comparison
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 |
| Plan F Most popular |
$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 |
Financial Strength Ratings
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+ |
| Moody’s Rating | Baa2 |
*Ratings as of 2/17/15
Bankers Life Video
Bankers Life Review
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.
- Market Experience
- Fast Claims Processing
- Strong Financial Reserves
- Competitive Rates
- Customer Satisfaction
How To File A Claim With Bankers Life
Telephone Number: (800) 773-4760
To speak with a person:
- Press 1 for policy holders
- Enter your policy number when prompted, followed by the # sign
Company Contact Information
Customer Service:
(800) 621-3724
Mailing Address:
Administrative office, Bankers Life
111 E. Wacker Drive, Suite 2100
Chicago, IL 60601
How To Get A Rate Quote
Customers looking to get a rate quote, or learn more about plans have 2 options:
- Call a licensed insurance representative at: (877) 910-7579
- Complete an online quote request at: http://www.medigap.com/form/