Bankers Life and Casualty Shares Company Profile

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Bankers Life And Casualty

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Bankers Life and Casualty Shares Company Profile

  1. 1. C o m pa n y P ro f i l e
  2. 2. Contents 3 A Message from Scott Perry 4 Financial Highlights 5 The Bankers Difference 6 Service Excellence 7 Product Leadership 8 Making a Difference in Our Community 10 The Bankers TraditionBankers is a subsidiary of CNO Financial Group, Inc., a holding company for a group of insurance companies operating throughoutthe United States. With more than $4 billion in annual revenue, CNO companies develop, market and administer supplemental healthinsurance, annuities, individual life insurance and other insurance products.
  3. 3. A Message from Scott PerryAt Bankers Life and Casualty Company, we’re dedicated to delivering affordable solutions thataddress retirees’ most pressing concerns—payment of healthcare expenses and adequacy ofretirement income.This understanding guides our business practices. It drives our plans for growth. And it inspiresBankers’ commitment to maintain our strength, our stability and our uncompromising dedicationto service.StrengthFor more than 130 years, we’ve helped policyholders relieve their financial concerns. And with$12 billion in assets under management and more than 200 branch offices nationwide, Bankerswill be there to support our policyholders when they need us most.StabilityAs a leader in offering Medicare Supplement insurance policies and long-term care insurance,Bankers’ tenure in the industry remains unsurpassed. Combined with our life insurance andannuity products, we offer one of the most comprehensive portfolios designed to meet theretirement planning needs of the senior market.ServiceOutstanding customer service is just one of the reasons more than 1.3 million policyholders trustus to meet their needs. By focusing on the ways we address retirees’ specific concerns, Bankersbacks the customer experience with dedicated career agents and timely claims payment.In ClosingWhile strength, stability and service shape our culture, we’ve never lost sight of our vision—to become a leading provider of health and life insurance products and annuities to the middle-income retirement market. By continuously challenging ourselves to better understand our marketand by delivering increasingly beneficial products and services, Bankers is taking an active rolein achieving our vision. Thank you for your interest. Scott R. Perry, President COMPANY PROFILE I 3
  4. 4. 2 0 0 9 Fi n a n c i a l H i g h l i g h t s 1 Key Business Measures Dollars in Millions 2009 Assets Under Management............................ $11,847 Policies In Force (In thousands) 2 ..................... 1,336 Collected Premium ........................................ $3,000.9 Sales Long-Term Care ................................................. $35.4 Medicare Supplement ........................................ $114.3 Life .................................................................... $57.7 Annuities ........................................................... $64.8 Total ......................................................... $272.2 EBIT ............................................................... $278 Reserves......................................................... $11,478 Insurance Policy Benefits ................................ $1,667 Sales Offices .................................................. 242 Agents (On average) ...................................... 5,143 $11.8 $114.3 $3.0 $57.7 $64.8 $35.4 Assets Under Collected Long-Term Medicare Life Sales Annuity Management Premium Care Sales Supplement (In millions) Sales (In billions) (In billions) (In millions) Sales (In millions) (In millions) 1 Calculated using GAAP financial reporting, which includes affiliates. 2 Excluding PFFS and PDP. Asset Allocation Profile Bond Quality Profile Total Investments ($11.8 billion) by Type Bonds ($10.6 billion) by NAIC Quality Rating 90% Bonds 95% Classes 1 and 2: Highest and High Quality 5% Class 3 or lower 7% Commercial mortgage loans 1% Stocks 2% Other4 I COMPANY PROFILE
  5. 5. The Bankers Difference Get to know Bankers—and learn why our more than 1.3 million customers trust their retirement to us.For more than 130 years, Bankers Life and Casualty Company has been helpingindividuals and families protect their financial security and prepare for retirement.Our broad selection of affordable, quality health and life insurance products andannuities offers clients solutions for every stage of life—whether retirement is yearsaway, or they are already retired.With over 200 branch offices across the country, our more than 5,000 agents liveand work in the communities they serve. Our customers have their own Bankersagent who takes the time to get to know their family, listens to their needs andvalues, and is dedicated to helping them meet their goals for a secure retirement.At Bankers, our commitment to service is backed by the financial strengthof $12 billion in assets under management and the stability of century-longexperience. Get to know Bankers—and learn why our more than 1.3 millioncustomers trust their retirement to us. COMPANY PROFILE I 5
  6. 6. Service Excellence At Bankers, service excellence is a philosophy that guides the way we think about our policyholders. And it’s an approach that defines the Bankers customer experience. Financial Assurance Financial stability, security and integrity take on new meaning when we near retirement. Bankers agents understand this and develop comprehensive insurance solutions based on the lifestyles and retirement planning goals of our customers. Superior Customer Service The personal service of our more than 5,000 dedicated career agents helps set Bankers apart from other insurance companies. In fact, we still make house calls. It’s important that our customers have a local Bankers agent to service their needs. Our customer service department supports the service provided by agents and in 2009 alone responded to more than 2.5 million inquiries from policyholders and their families. Claims Payment When you’re recovering from an illness or injury, the last thing you need to worry about is claims payment. In 2009, Bankers processed more than seven million claims and paid out more than $1.2 billion in policy benefits.6 I COMPANY PROFILE
  7. 7. Product Leadership As a leader in the retirement market, Bankers’ comprehensive product suite offers real-life solutions.Long-Term Care, Short-Term Care Medicare Supplement Insurance3and Home Health Care Insurance A market leader for more than 40 years,A pioneer in the development and we offer supplemental insurancemarketing of long-term care insurance, products to help policyholders managetoday Bankers is a top provider of unexpected medical bills by helpingthese products. We also offer flexible pay the difference between traditionalshort-term care and home health care Medicare payments and out-of-pocketinsurance options that enable our expenses.customers to receive care at homewhenever possible. Medicare Advantage Plans3 When it comes to healthcare plans,Life Insurance one size doesn’t fit all. That’s whyWhether our clients are looking for Bankers expanded our productfinal expense, whole or universal life portfolio to include Medicareinsurance, Bankers products can help Advantage Plans. Now, retirees haveprotect a family’s financial security and more choices when deciding how tohelp build a legacy to pass on. receive their Medicare benefits.Annuities Medicare Part DOur portfolio of traditional fixed Prescription Drug Plans3and indexed annuities is designed Customers can enhance their Medicarewith retirees’ unique concerns and coverage with a wide selection of drugretirement planning goals in mind. plans that help save money on everyday prescription medications. 3 Offered through one of our affiliated carriers. Coverage available in most states. COMPANY PROFILE I 7
  8. 8. Making a difference in our C o m m u n i t y Bankers is proud to support the causes that affect our customers and their families. That’s why our community partnerships are so important to us. Alzheimer’s Association Experts estimate as many as 5.3 million Americans have Alzheimer’s disease. By 2050, that number is expected to grow to as many as 16 million.4 The Alzheimer’s Association is the nation’s leading voluntary health organization in Alzheimer’s care, support and research. Bankers is a proud national sponsor of the Alzheimer’s Association and supports its vision for a world without Alzheimer’s. For eight years running, Bankers has organized Forget Me Not Days®, our nationwide fundraising campaign to collect donations for the Alzheimer’s Association and raise public awareness of the disease. Since 2003, Bankers has helped raise more than $2 million for the Association through the fundraiser and corporate donations. 4 Alzheimer’s Association, 2010.8 I COMPANY PROFILE
  9. 9. Meals on Wheels ChicagoEvery weekday, Meals on Wheels Chicago, in partnership with the ChicagoDepartment of Family and Support Services, delivers more than 8,000 mealsto Chicago’s homebound seniors. In some cases, it’s their only opportunityfor healthy, nutritious meals on a regular basis. In addition, daily contact with acaring driver gives Meals on Wheels Chicago clients a social connection to theoutside world.Since 2004, Bankers has contributed $200,000 to Meals on Wheels Chicago tohelp support programs such as Home Delivered Meals, Holiday Meals, Short-TermImmediate Meals and Home Modification, which involves adapting a recipient’shome to his or her unique needs. United WayUnited Way of America is a national network of more than 1,300 locally governedorganizations that work to create lasting change. The United Way helps sustainvital human services for those who need help most, while reducing such needsfor future generations.Each year, United Way conducts a nationwide campaign to raise money for charitiesand cooperative agencies. Its core values include diversity and inclusion, advocatingthat a variety of voices are heard and supported. It supports programs in the areasof education, income and health that lead to successful lives for all Americans.In 2009, Bankers employees generated more than $37,000 to the United WayWorkplace Campaign. COMPANY PROFILE I 9
  10. 10. T h e B a n k e r s Tr a d i t i o n 130 years and counting Our Foundation On January 17, 1879, our predecessor, the Hotel Men’s Mutual Benefit Association of the United States and Canada, began operating. In 1942, John D. MacArthur merged his companies, the Hotel Men’s Mutual Benefit Association, the Illinois Standard Life Insurance Company and Bankers Life and Casualty Company, under the “Bankers” brand name. Our Heritage MacArthur studied the great American manufacturers. He learned how they branded and mass-marketed a range of household goods and services. MacArthur reasoned that if he could reduce the high cost of selling insurance, he could make insurance affordable for middle-income Americans. So began Bankers’ unparalleled growth through direct mail marketing campaigns. And by the end of 1956, Bankers Life and Casualty Company had become one of the largest individual insurers in the health and accident field. In the 1960s, we turned our attention toward America’s growing senior market. And shortly after President Lyndon B. Johnson signed the Medicare bill into law, Bankers became one of the first insurance companies to offer Medicare Supplement plans. Our Future While strength, stability and service shape our culture, we’ve never lost sight of our vision—to become a leading provider of financial security to retirees and their families. That’s why our insurance product portfolio now includes long-term care, life insurance, annuities and Medicare Part D prescription drug coverage. It’s also why we’ll continue to grow and innovate to meet the changing needs of our customers.10 I COMPANY PROFILE
  11. 11. Bankers Life and Casualty Company’s predecessor, the1879 Hotel Men’s Mutual Benefit Association, begins operations. Bankers’ president John D. MacArthur develops mass1946 marketing of low-cost health insurance policies through the mail. Bankers enters the senior market and becomes one of1950 – 60s the nation’s first insurers to develop and offer Medicare Supplement insurance. Bankers expands our product offerings to include1977 retirement products. Company assets surpass $1 billion. In 1985, Bankers releases our first comprehensive long-term care insurance plan, positioning us as a leader in seniors’ health insurance products. Five years later, Bankers1980 – 90s introduces our first senior life insurance product, enabling agents to deliver the first complete portfolio of health and life insurance and annuity products developed specifically for seniors. Bankers Life and Casualty Company celebrates our2004 125th anniversary. COMPANY PROFILE I 11
  12. 12. Bankers Life and Casualty Company Chicago, IL11363 (8/10) bankers.com

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