Bankers Life and Casualty Insurance Company

Bankers Life and Casualty Insurance Company
600 West Chicago Ave
Chicago, IL 60654-2800
1-800-654-3072 / 1-800-773-4760 (for health policy inquiries)
1-800-283-8011 (life policy inquiries)
1-800-787-1431 (annuity policy inquiries)

Bankers Life and Casualty Insurance Company is a respected United States insurance company that focuses on support for senior citizens. Founded in 1879, Bankers Life and Casualty offers a variety of products designed for retiree and has an extensive portfolio of insurance products that are highly competitive.

Among the products offered by Bankers Life and Casualty are medical supplement insurance, long-term care/home health care, life insurance, annuities, Medicare’s Prescription Drug coverage, and Medicare Advantage. The medical supplement insurance allows a client to apply for additional medical support in case he/she is hospitalized. The long-term care insurance plan assists clients in paying for their care in nursing homes, in their own homes, or for comprehensive care, that is, care in both the nursing home and in their own homes.

As for life insurance, various products are offered to clients that feature universal, whole, and term life insurance plans. Each insurance plan is designed to give security to the client’s family. The annuities, on the other hand, are designed such that clients can set aside some income from their personal savings in order to supplement what they gain from their Social Security and company pension after retirement.

The company offers annuities that are tax-deferred and provides a lifetime income. The interest rates are competitive, with withdrawal privileges and an assured return of one’s principal. Among the fixed annuities offered by the company are deferred annuities, divided into flexible premium annuities, where one can add money to one’s annuity anytime, and single premium annuities, where one has to invest a lump sum. There are also immediate annuities, which allow the client to convert his/her money into guaranteed income immediately, and fixed indexed annuities, which have a fixed interest rate, yet are also partly based on stock market performance.

Bankers Life and Casualty’s Medicare Prescription Drug Coverage allows clients to gain assistance in purchasing their prescription drugs. The company has formed a partnership with Medicare and Coventry Health Care in order to provide this valuable service to its clients. The Medicare Advantage, on the other hand, gives clients the Private Fee-for-Service plans. It allows the clients to select their own healthcare professionals and doctors, without the need of a referral. Moreover, there are no deductibles and the plans themselves are highly cost-effective.

Aside from these products, Bankers Life and Casualty Insurance also offers the Bankers Health Advantage Program. The program allows the client to gain up to 20 percent savings from many generic and branded prescription drugs. It also gives the client as much as 50 percent discount on dental and vision care. However, the program is not a form of insurance nor a prepaid plan. Thus, one may cancel the service at any time. This service is available in continental U.S., except in Washington.

Bankers Life and Casualty Insurance Company boasts of around 2,000 employees, who are dedicated and professionally trained. The agents are trained to deal personally, professionally, and compassionately with the clients. The company offices are located in Illinois, but it is licensed to offer and to sell its products in all states and the District of Columbia, except in New York. The company gained a positive B++ rating via the A.M. Best Ratings Center.