Recently, there has been some confusion among customers and the public regarding the status and affiliation of Bankers Life and Casualty Company doing business as Bankers Life with Bankers Life Insurance Company in North Carolina which was placed in rehabilitation by order of the Superior Court of Wake County, North Carolina back in 2019. This blog aims to clarify the differences between these two companies and provide reassurance to the valued policyholders of Bankers Life and Casualty Company.
Similar Names but Two Unrelated Entities
First and foremost, it is crucial to understand that Bankers Life and Casualty Company and Bankers Life Insurance Company are entirely separate and unrelated entities. Despite the similarity in their names, they operate 100% independently of each other and have no affiliation.
Is Bankers Life in Liquidation?
Bankers Life and Casualty Company (doing business as Bankers Life) is NOT in liquidation. A similar-sounding company named Bankers Life Insurance Company IS in liquidation. Both are separate and not affiliated in any way.
Is Bankers Life and Casualty Company (known as Bankers Life) the Same as Bankers Life Insurance Company?
No, they are two totally separate companies.
Bankers Life and Casualty Company is a subsidiary of CNO Financial Group, Inc., a well-established public company with over $30 billion in assets and a strong reputation for customer service. On the other hand, Bankers Life Insurance Company has been placed into rehabilitation by the North Carolina Department of Insurance. This situation has led to some confusion among policyholders who mistakenly believe that both companies are linked. They are not.
Reassurance for Policyholders
We want to assure our customers that the liquidation status of Bankers Life Insurance Company does not impact or have anything to do with the policies held by Bankers Life and Casualty Company policyholders. Bankers Life and Casualty Company (commonly known as Bankers Life) continues to operate with a commitment to meeting the needs of our customers, backed by a strong financial standing. Bankers Life holds an A+ rating with the Better Business Bureau (BBB) and is rated as investment grade by all four leading ratings agencies—A.M. Best, Moody’s, Fitch, and S&P. Your current policies remain secure and unaffected by the events concerning Bankers Life Insurance Company.
Commitment to Service
At Bankers Life and Casualty Company, we pride ourselves on our long history of customer satisfaction and reliable service. We understand the concerns that may arise from such confusion and are dedicated to providing clarity and support. Our local offices are always available to address any additional questions you may have and continue to serve your retirement needs effectively.
Conclusion
We hope we’ve helped clarify the distinction between the two companies and reassured you of the stability and reliability of your policy with Bankers Life and Casualty Company. On behalf of Bankers Life, we thank you for being a valued customer and look forward to serving you and your family for years to come.
We’re here for you!
Bankers Life is here to help customers with their financial and insurance needs so please visit us at BankersLife.com to learn more.
