BANKERS LIFE AND CASUALTY COMPANY WINS SENIOR RETIREE INSURANCE BUSINESS FOR STATE OF SOUTH DAKOTA
Thursday, September 18, 2003
CHICAGO (September 18, 2003) - Bankers Life and
Casualty Company, Chicago, now covers government retirees of the
State of South Dakota with senior retiree insurance.
The policy, which took effect in July 2003, covers about 1,100
policyholders and generates about $1.6 million in annual premiums
for the 125-year-old national insurer. Bankers which specializes in
products designed for seniors won the contract in a competitive
bidding process necessitated when the former insurance carrier
decided to cease business activities in the state.
"We're very happy to have Bankers on board as our supplemental
insurance carrier," said Larry Kucker, Director of Benefits for the
Department of Human Resources of South Dakota. "What you look for
in a bidding process such as this one, is to find not only a
competitively priced bid, but a company that has the knowledge and
the staying power to provide the service you need. We feel Bankers
gives us both."
Bankers Vice President of Affinity Marketing David Bledsoe said,
"Bankers focuses exclusively on products that serve the needs of
seniors and we've been doing it a long time. We were selling what
used to be called Medi-gap insurance all the way back in 1965. We
were one of the first companies to do it. So we have a lot of years
to draw on to provide policyholders with the kind of service and
attention they need."
Bledsoe said the policy provides retirees with their own
coverage, and doesn't lump them together under the same coverage
with active employees. It helps the state by providing retirees a
much-needed coverage but lightens the premium load carried by the
employer and policyholders.
Established in 1879 and headquartered at the historic
Merchandise Mart in downtown Chicago, Bankers Life and Casualty
Company focuses exclusively on the financial security needs of
seniors. The company offers a broad portfolio of health and life
insurance and retirement savings products designed especially for
seniors. These products are distributed through a national network
of professionally trained company agents. Visit us online at www.bankers.com.