Bankers Life & Casualty Life Insurance

Bankers Life & Casualty Life Insurance

 3.2/5 (391 reviews)

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Overall Rating3.2 out of 5
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About Bankers Life & Casualty Life Insurance

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Bankers Life sells term, permanent and universal life insurance policies. Term life insurance covers policyholders for 5, 10 or 20 years, and the whole and universal policies provide coverage for life. Permanent policies automatically include individual riders. Customers must speak to a local representative for quotes and coverage options, then apply with that representative. The company does not let customers apply online.

    Pros & Cons


    • Guaranteed cash value
    • Living benefit rider
    • Plans for seniors


    • No online quotes

    Bottom Line

    Bankers Life offers term, whole and universal life insurance, including plans for seniors. Specific policies automatically add riders. Customers cannot get online quotes. Agents assist in applications.

    Top Bankers Life & Casualty Life Insurance Reviews


    When I was bedridden, the agent came to my home to explain the policy to me before I signed up. The customer service over the phone has also been great. I pay by automatic draft s...

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    The agent has taken the time to really get to know me and why I need life insurance. He calls every 6 months to check in. We meet once a year to see how the policy is doing. I am ...

    Read full review

    About Bankers Life and Casualty Company

    Bankers Life and Casualty Company offers term, whole or universal life options. The company's universal life insurance plans come with a living benefit option that lets you use a portion of your death benefit if a doctor diagnoses you with a chronic illness. Bankers Life insurance also offers Medicare supplemental plans, long-term care insurance and annuities.

    Bankers Life's customer service agents provide a free consultation to help you customize a policy that fits your retirement plans. Bankers Life's insurance policies have level premiums that don’t increase. The availability of in-home customer service sets Bankers Life and Casualty Company apart from many of its competitors.

    Bankers Life insurance policies and coverage

    Bankers Life offers term life, whole life and universal life insurance policies. Monthly premiums never increase over the life of the policy.

    • Term life insurance: Bankers Life term life insurance policies cover the policyholder for a 5-, 10- or 20-year period. These plans allow customers to buy only the amount and duration of coverage they need at a lower price than permanent life insurance.
    • Whole life insurance: Bankers Life whole life insurance policies cover customers for life. These plans include a guaranteed cash value rider, so their cash value accumulates over time. Customers can receive a loan using a whole life insurance policy.
    • Universal life insurance: Bankers Life universal life insurance lasts a lifetime and includes a guaranteed cash value. This plan also includes a PLUS living benefit rider that lets you use a portion of your death benefit if you’re diagnosed with a permanent chronic illness. The universal option also comes with a flexible premium that lets you pay a lower amount when your budget is tight.
    • Life insurance for seniors: Bankers Life offers life insurance options for individuals who are over 65. These plans require no medical exam and provide coverage up to $30,000.

    How much does Bankers Life life insurance cost?

    Bankers Life offers life insurance policies that start at $16 per month. The cost of your policy varies based on your coverage needs, age, location and health profile. A young, healthy person purchasing term life coverage for five years pays significantly less than a 60-year-old individual who wants whole life insurance.

    To get a quote, fill out a form on the website to be connected with Bankers Life insurance customer service. An agent answers your questions and helps you complete the application process. You can also call and provide your name, address and phone number, then connect with a Bankers Life insurance agent, who collects your information to determine your quote.

    Bankers Life FAQ

    Does Bankers Life require a medical exam for life insurance?

    Some policies do not require a medical exam. Talk to your local agent to find out the specific requirements of the policy you choose.

    How do I submit a life insurance claim with Bankers Life?

    Download claim forms from Bankers Life’s website, then upload the completed forms and any supporting documents on the company's website or mail them to the address provided. You can contact Bankers Life's customer service representatives with any questions.

    Where are Bankers Life agents located?

    Find a Bankers Life agent in any of its branches in 48 states. The company does not have branches in Alaska or North Dakota.

    Is Bankers Life a good life insurance company?

    With term life, whole life and universal life packages, Bankers Life offers something for every coverage need and budget. The company also provides coverage to seniors. If you prefer to meet with an agent in person, Bankers Life insurance agents make in-home appointments with their customers. You can also visit an office in your area. Customers cannot apply online, which is inconvenient for some.

    Bankers Life & Casualty Life Insurance Reviews

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    Page 1 Reviews 0 - 10
    Verified Reviewer
    Original review: June 8, 2023

    I've called the customer service number numerous times, I'm calling from a provider office; the prompts state to press two for providers, I press 2 and it keeps going through the recorded greeting and won't accept pressing any keys on the phone pad. I've tried pressing all the keys to avail. It's 9:23 AM Central Time, I'm calling within calling hours 7a to 7p. (which I've heard over and over). I'm trying to Google other numbers but they all lead back to this number 800-621-3724. Awful, awful service. Then the reps wonder why we're ** off by the time we do get a live rep. Get it together BANKERS!!

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    Verified Reviewer
    Original review: Feb. 7, 2023

    This company has been fined by the US government (2004 and 2007), and has been the subject of class action lawsuits (2018), but still knowingly and willingly violates the federal Do Not Call list regulations (i.e., violates the federal Telephone Consumer Protection Act (TCPA)). Our phone number has been on the Do Not Call list since 2003. Yet, we received regular calls from Bankers Life sales reps in the period October - December 2022. They even kept calling when I specifically told them to not call again. Why would you consider doing business with a company that knowingly, willingly, and repeatedly violates federal law? What are the chances that they will act fairly and within the law when you try to collect on a policy claim? This company is run by mobsters in suits. Avoid having anything to do with them.

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      Verified Reviewer
      Original review: Dec. 1, 2022

      First can I just say, they have the worst customer service representatives. Most are foreign and barely speak English. When I called, they would give information and say that something was completed. Then when called back a few weeks later, was told that it had not been completed. This happened time and time again.

      Secondly, a claim was denied for my father in law's life policy because he kept regular yearly checkups for a stent he had 15 years previously. No other issues in the last 15 years. They are just looking for a reason to deny paying the claim. We had previously thought about using this company personally, but after this whole debacle, I would never consider using them. Also, it took them 5 months to tell us that they were denying it. Please take my advice and do not use this company.

      5 people found this review helpful
      Verified Reviewer
      Original review: Nov. 6, 2022

      Good morning. My name is Vaughn **. I would like to tell you of my recent experience with Bankers Life and Casualty insurance company. On October 19, 2022 my sister passed away. Two days prior on the 17th, I contacted the insurance agent to inquire about her life insurance. At that time, the agent noticed that the change of beneficiary that they acknowledged receiving in 2007 was never submitted to the National office. At that time he explained that it would take 24-48 hours to correct it. Fast forward to the 19th. She passed away. I contacted the agent again. It was still not corrected at that time he said he would expedite it for correction.

      One week later the day of the visitation, I got notified by the funeral director that the policy had not been approved and we couldn’t go to the cemetery for the burial. I spent the day of the visitation in the funeral home while on the phone with the insurance agent trying to get it resolved to no avail. It took them 8 days after the funeral to get it fixed so that we could bury my sister and no one is being held accountable for the foul up. unfortunately, the law protects the insurance company from being sued. As for customer service, their response was “these things happens”. I would like to expose this to the community.

      7 people found this review helpful
      Verified Reviewer
      Original review: June 9, 2022

      My agent, Justin, was so helpful. He helped me with the proper policies for my whole family. I had a lot of questions and he was very knowledgeable. He is a financial advisor as well and is helping me protect my assets too!

      3 people found this review helpful
      Verified Reviewer
      Original review: Dec. 28, 2021

      My Mother paid premiums for many years with two Long Term Care Ins. Companies. Bankers Life has made the claim process go on for months with one technicality after another. They add another request for information every time you call to find out why the last info they said would be the final info needed to pay a claim has not sufficed. Do not put your loved ones and power of attorneys through this hell. My advice would be to avoid Bankers Life for LTC Insurance.

      20 people found this review helpful
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      Verified Reviewer
      Original review: Nov. 8, 2021

      This is the worst company and people to deal with. I have been dealing with them for 2 years on my mother's behalf. Once you understand how to submit a claim, they change the process. They leave the old process, ex: their website, working so that you do not know it is no longer used. They make excuses, and blame the facility, IMO hoping to get the family arguing with the facility. They are spiteful, hateful, and do not care how they keep from paying. The people you talk to about the claim are not in charge, they are hired help. IMO that is because honest folks would not be a part of the scandalous activity. I don't know how they sleep. How many crimes have been committed for greed?

      17 people found this review helpful
      Verified Reviewer
      Original review: July 20, 2021

      I wish I could give this company a (-) negative 1,000!!!! I first filed a claim in January 2021 and they have given my family and I the run around for the last 6 months! I must admit that everyone (for the most part) has been very nice when I called. But that's all they have going for them. Banker's Life is extremely UNORGANIZED and they lie lie lie through their teeth! The claims department does not have a telephone number so the insured has to rely on un-updated notes from the customer service department. I had one associate that hung up on me!!!! Another associate was so very nice and promised me over and over again they they would call me back and of course that never, ever happened. Absolutely unacceptable. I contacted this company at least twelve times for the same issue!

      Our benefits finally arrived after over six months of the run around and staying on the company. The premiums were extremely high and to have to go through this ordeal after a sudden death of my family member was insanely tough. I hope they get more organized and stop being untruthful to their customers. I will NEVER trust this company again.

      22 people found this review helpful
      Verified Reviewer
      Original review: July 12, 2021

      It is almost impossible to get someone, on the phone. God forbid if there is A death, & the third world country operators just keep repeating the same word over & over again. Hey if you need those services you just as well go out of business. Ms Dell & Ms Carol should never answer the phone- to talk English.

      17 people found this review helpful
      Verified Reviewer
      Original review: May 31, 2021

      If I could rate Bankers Life less than one it would be ZERO! I have never had an account with any business that I could never reach a human being when I called them. It is all an automated system. I tried three different numbers that I finally found for Customer Service and they all had the same automated system. The only way to contact anyone is to email, text, or call your insurance agent. The other problem is, I created an online account with them. I only ever had one successful sign in.

      The rest of the time, every single time I tried to sign in, a screen with a red triangle with "PING" in it popped up with an error message so I was unable to sign in. I even created a new account with a different password. After I created the new account I tried to sign in immediately but when I did the PING screen popped up, once again, not allowing me to sign in. I have created a new account in the same day, several times, with a different password each time and I still could not sign because of PING. I have no idea what PING is and why, for whatever reason, it has anything to do with my online account.

      I am sick and angry that my insurance agent convinced me to take out a Bankers Life Medicare Supplemental policy! If I can ever get into my online account I am going to close it immediately. The last thing is, I received an email from PING saying that there had been a request to change the password for my online account. I have no idea why PING, instead of Bankers Life, sent me an email regarding this. I don't understand why PING would be involved in my online banking or in control of sending me emails. I have never been able to sign in to my online account.

      12 people found this review helpful

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        Bankers Life & Casualty Life Insurance Company Information

        Company Name:
        Bankers Life & Casualty Life Insurance
        Year Founded:
        111 E Wacker Dr Suite 2100,
        Postal Code:
        United States