Bankers Life & Casualty Life Insurance

Bankers Life & Casualty Life Insurance

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Overall Rating3.1 out of 5
See all 129 reviews & ratings

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.

    Featured Reviews

    Spokane, WA

    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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    Sun Prairie, WI

    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 ...

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    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

    ConsumerAffairs has collected 129 reviews and 272 ratings.

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    Page 1 Reviews 0 - 10
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    Customer ServiceStaff

    Reviewed Aug. 15, 2023

    Tim ** is a hard worker and good listener. He pushed thru with our best interests in mind. Kept us informed every step of the way. He spent quite a few hours at our home more than once and was always quick to respond if I called or texted.

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    Reviewed Aug. 2, 2023

    When father needed care and entered a long term care facility, I discovered going thru his paperwork this policy that he had been paying on for 20 years + .Over $ 70,000 paid out and in the end $ 0 collected from policy. Beware of any ltc policy and avoid at all cost working with Bankers Life.

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      Customer ServiceStaff

      Reviewed July 15, 2023

      My mom had a life insurance policy for $5,000 for many years. When she passed in 2019 my brother filed on this claim & BL denied us. I kept asking him for the paperwork to show a friend who is a probate lawyer. He passed from covid the following year. His partner gave me all the paperwork for my mom's policy. I am so grateful for my friend & lawyer David **. He got all the needed legal documents BL asked for saying the policy was payable. I went to the Stafford office to submit paperwork in person & no one was there. I must of called 20 or more times the same day before I was able to speak to a live person. I asked why the office was closed during operating hours & they said someone would be there shortly. Gave the rep the paperwork & she said someone would contact me after they reviewed everything. Waited & waited then my brother's partner sent me a letter that BL had issued a check but didn't know where to send it.

      Makes no sense, they knew where to send the letter saying they didn't know where to send the check. These are the delay tactics they use so not to issue checks. This time I emailed all legal documents so I would have a paper trail. They answered. Say they would have to review, AGAIN! Had to keep emailing trying to find out the status of the claim. They kept saying someone would contact me. After the last inquiry I made 2 months later, they sent me an email saying they sent it to Texas unclaimed properties. Now I have to start all over again to prove my sister & I are entitled to this money. The reason I have pursued & fought for this claim, it was my mom's wish just to leave us a little something. Since she had this policy for so long, she paid into it more than it's worth. After paying the 5,000, BL will still have made money on this policy. Don't let these insurance companies get away with this. Call David **, he'll help you out.

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      Customer ServiceCoverage

      Reviewed July 5, 2023

      My mother paid in for 20 years. At age 88 she is legally blind and almost totally deaf. Not good enough for coverage. Her payments went to the shareholders for their secure retirement. I called numerous times and just got the run around from some call center and always the quote, "There is no guarantee of coverage.". I finally cancelled her policy! Please, save your money!

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      Customer ServiceStaff

      Reviewed 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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      Reviewed 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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      Reviewed 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.

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      Reviewed 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.

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      Reviewed 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!

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      Customer Service

      Reviewed 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.

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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