![]() Whole life policies can also accumulate a cash value. Bankers Life offers five whole life insurance policies and one juvenile whole life insurance policy. Whole life insurance is a permanent life insurance policy that's designed to last throughout the lifetime of the policyholder. This score means that Bankers Life has an excellent ability to meet its ongoing financial obligations.īankers Life offers several policy options to choose from. Third-Party RatingsĬredit rating service AM Best issues financial strength ratings for each company in the insurance industry based on the company’s analysis of financial health and projected ability to pay claims and meet other financial obligations.Īccording to AM Best, Bankers Life and its parent company, CNO Financial Group, have an A (Excellent) financial strength rating. The majority of these complaints involved delays, denials, and problems with premium refunds. This is considerably higher than the market standard. A higher score indicates that the company received more complaints than expected, and a score of less than 1.00 means the company received fewer complaints than expected.īankers Life has an average index of 5.01 over three years for the individual life category. ![]() This means that the company received an expected number of complaints for its size. The National Association of Insurance Commissioners (NAIC) calculates a complaint index to indicate the number of complaints a company receives relative to other companies. But a higher coverage limit may be available to some applicants with home office approval. Relatively low max death benefit without home office approval: A maximum death benefit of $2 million may be too low for some consumers.This should give potential applicants pause. More complaints than expected: Bankers Life has a complaint level that's well above what’s expected for its size.No online application: More tech-savvy applicants who want the convenience of applying or getting a quote online may be frustrated by Bankers Life.No-medical-exam policies: The company offers coverage to eligible applicants for up to $150,000 in coverage without a medical exam.Multiple plan options: Those who prefer cash value or investment options have a healthy set of policies to choose from with a range of term, whole, and universal life (UL) policies, including indexed UL and final expense.Bankers Life also offers a Disability Income Rider, which is rare in the industry. Extensive riders, including a disability income option: A long list of available riders gives you the power to customize a policy to fit your needs.
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