Bankers Life And Casualty

1. C o m pa n y P ro f i l e

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 Tradition
Bankers is a subsidiary of CNO Financial Group, Inc., a holding company for a group of insurance companies operating throughout
the United States. With more than $4 billion in annual revenue, CNO companies develop, market and administer supplemental health
insurance, annuities, individual life insurance and other insurance products.

3. A Message from Scott Perry
At Bankers Life and Casualty Company, we’re dedicated to delivering affordable solutions that
address retirees’ most pressing concerns—payment of healthcare expenses and adequacy of
retirement income.
This understanding guides our business practices. It drives our plans for growth. And it inspires
Bankers’ commitment to maintain our strength, our stability and our uncompromising dedication
to service.
Strength
For 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, Bankers
will be there to support our policyholders when they need us most.
Stability
As 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 and
annuity products, we offer one of the most comprehensive portfolios designed to meet the
retirement planning needs of the senior market.
Service
Outstanding customer service is just one of the reasons more than 1.3 million policyholders trust
us to meet their needs. By focusing on the ways we address retirees’ specific concerns, Bankers
backs the customer experience with dedicated career agents and timely claims payment.
In Closing
While 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 market
and by delivering increasingly beneficial products and services, Bankers is taking an active role
in achieving our vision.
Thank you for your interest.
Scott R. Perry, President
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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% Other
4 I COMPANY PROFILE

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 helping
individuals and families protect their financial security and prepare for retirement.
Our broad selection of affordable, quality health and life insurance products and
annuities offers clients solutions for every stage of life—whether retirement is years
away, or they are already retired.
With over 200 branch offices across the country, our more than 5,000 agents live
and work in the communities they serve. Our customers have their own Bankers
agent who takes the time to get to know their family, listens to their needs and
values, and is dedicated to helping them meet their goals for a secure retirement.
At Bankers, our commitment to service is backed by the financial strength
of $12 billion in assets under management and the stability of century-long
experience. Get to know Bankers—and learn why our more than 1.3 million
customers trust their retirement to us.
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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.
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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 Insurance3
and Home Health Care Insurance A market leader for more than 40 years,
A pioneer in the development and we offer supplemental insurance
marketing of long-term care insurance, products to help policyholders manage
today Bankers is a top provider of unexpected medical bills by helping
these products. We also offer flexible pay the difference between traditional
short-term care and home health care Medicare payments and out-of-pocket
insurance options that enable our expenses.
customers to receive care at home
whenever possible. Medicare Advantage Plans3
When it comes to healthcare plans,
Life Insurance one size doesn’t fit all. That’s why
Whether our clients are looking for Bankers expanded our product
final expense, whole or universal life portfolio to include Medicare
insurance, Bankers products can help Advantage Plans. Now, retirees have
protect a family’s financial security and more choices when deciding how to
help build a legacy to pass on. receive their Medicare benefits.
Annuities Medicare Part D
Our portfolio of traditional fixed Prescription Drug Plans3
and indexed annuities is designed Customers can enhance their Medicare
with retirees’ unique concerns and coverage with a wide selection of drug
retirement 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.
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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.
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9. Meals on Wheels Chicago
Every weekday, Meals on Wheels Chicago, in partnership with the Chicago
Department of Family and Support Services, delivers more than 8,000 meals
to Chicago’s homebound seniors. In some cases, it’s their only opportunity
for healthy, nutritious meals on a regular basis. In addition, daily contact with a
caring driver gives Meals on Wheels Chicago clients a social connection to the
outside world.
Since 2004, Bankers has contributed $200,000 to Meals on Wheels Chicago to
help support programs such as Home Delivered Meals, Holiday Meals, Short-Term
Immediate Meals and Home Modification, which involves adapting a recipient’s
home to his or her unique needs.
United Way
United Way of America is a national network of more than 1,300 locally governed
organizations that work to create lasting change. The United Way helps sustain
vital human services for those who need help most, while reducing such needs
for future generations.
Each year, United Way conducts a nationwide campaign to raise money for charities
and cooperative agencies. Its core values include diversity and inclusion, advocating
that a variety of voices are heard and supported. It supports programs in the areas
of education, income and health that lead to successful lives for all Americans.
In 2009, Bankers employees generated more than $37,000 to the United Way
Workplace Campaign.
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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.
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11. Bankers Life and Casualty Company’s predecessor, the
1879
Hotel Men’s Mutual Benefit Association, begins operations.
Bankers’ president John D. MacArthur develops mass
1946 marketing of low-cost health insurance policies through
the mail.
Bankers enters the senior market and becomes one of
1950 – 60s the nation’s first insurers to develop and offer Medicare
Supplement insurance.
Bankers expands our product offerings to include
1977
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, Bankers
1980 – 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 our
2004
125th anniversary.
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12. Bankers Life and Casualty Company
Chicago, IL
11363 (8/10) bankers.com