Life insurance is a contract between an insurer and a policyholder, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person.
Life insurance can provide financial protection and peace of mind for your loved ones, as well as other benefits such as tax advantages, savings, and investment options.
But how do you choose the right life insurance company for your needs?
There are many factors to consider, such as the company’s reputation, financial strength, customer service, product offerings, and pricing.
In this article, we will focus on one of the life insurance companies in the United States: Bankers Reserve Life Insurance Company of Wisconsin.
Who owns Bankers Life Insurance Company?
Bankers Reserve Life Insurance Company of Wisconsin is a subsidiary of Bankers Life and Casualty Company, which is in turn owned by CNO
CNO Financial Group is a holding company that provides health and life insurance, annuities, and supplementalhttps://www.cnoinc.com/en health products
What does bankers’ life insurance do?
Bankers Life Insurance Company offers a variety of life insurance products, such as term life, whole life, universal life
Term life insurance provides coverage for a specified period, usually 10, 15, 20, or 30 years.
Whole life insurance provides coverage for the entire life of the insured, as long as premiums are paid.
Universal life insurance is a type of permanent life insurance that allows flexibility in premium payments
Indexed universal life insurance is a type of universal life insurance that links the cash value growth
Bankers Life and Casualty Company was founded in 1879 by John D. MacArthur in Chicago, Illinois.
The company grew rapidly and became one of the largest providers of senior health and retirement products in the United States.
In 2008, Bankers Life and Casualty Company changed its name to Bankers Life to reflect its focus on the retirement market
. In 2010, CNO Financial Group rebranded its subsidiaries under the Bankers Life name, including Bankers Reserve Life Insurance Company of Wisconsin.
Does a banker’s life have a good reputation?
Bankers Life has received mixed reviews from customers and rating agencies.
On one hand, Bankers Life has been accredited by the Better Business Bureau since 1955 and has an A+ rating with them.
Bankers Life also has a strong financial rating from A.M. Best, which is an independent rating agency that evaluates the financial strength
A.M. Best has given Bankers Life an A- rating, which means it has an excellent ability to meet its ongoing obligations
On the other hand, Bankers Life has also received many complaints from customers and regulators
For example, in 2019, Bankers Life agreed to pay $32 million to settle a class-action lawsuit
In 2018, Bankers Life was fined $4 million by the New York Department of Financial Services for violating state laws
In 2017, Bankers Life was ranked as the worst life insurance company in America by Consumer Reports
Bankers Reserve Life Insurance Company of Wisconsin reviews
Bankers Life Insurance Company of Wisconsin has received a few online reviews from customers
However, some of the available reviews are negative and critical of the company’s products and services.
For example, one customer wrote on Yelp that he was sold a term life policy by Bankers Reserve Life Insurance Company
Another customer wrote on Consumer Affairs that he had a terrible experience with Bankers Reserve Life Insurance Company
Bankers reserve life insurance company phone number
The phone number for Bankers Reserve Life Insurance Company of Wisconsin is 1-800-621-3724.
This is the same number for the Bankers Life customer service center.
You can call this number to get information about your policy, make changes to your policy, file a claim
Bankers reserve life insurance company of Wisconsin contact
You can also contact Bankers Reserve Life Insurance Company by mail, email, or online.
The mailing address for Bankers Insurance Company of Wisconsin is:
Bankers Reserve Life Insurance Company of Wisconsin
P.O. Box 1935
Carmel, IN 46082-1935
The email address for Bankers Reserve Life Insurance Company of Wisconsin is customerservice@bankers.com.
You can use this email to send any inquiries or feedback you may have about your policy or the company.
The online contact form for Bankers Reserve Life Insurance Company of Wisconsin is available on the Bankers Life website.
You can access the contact form by clicking on the “Contact Us” link at the bottom of the homepage.
You will need to provide your name, email, phone number, policy number, and message.
Bankers Reserve Life Insurance Company of claims
If you need to file a claim with Bankers Reserve Company of Wisconsin, you can do so by phone, mail
The phone number for Bankers Insurance Company of Wisconsin claims is 1-800-621-3724.
You can call this number to speak to a representative who will guide you through the claim process
The mailing address for Bankers Reserve Life Insurance Company of Wisconsin claims is:
Bankers Reserve Company of Wisconsin
P.O. Box 1911
Carmel, IN 46082-1911
You will need to send the original policy and a certified copy of the death certificate along with a completed claim form.
The online claim form for Bankers Life Insurance Company of Wisconsin is available on the Bankers Life website.
You can access the claim form by clicking on the “File a Claim” link at the top of the homepage.
You will need to provide your policy number, date of death, and beneficiary information.
Bankers reserve life insurance company address
The physical address for Bankers Reserve Life Company of Wisconsin is:
Bankers Reserve Life Insurance Company of Wisconsin
111 East Kilbourn Avenue Suite 800
Milwaukee, WI 53202
This is the registered office of the company in Wisconsin.
Conclusion
Bankers Insurance Company of Wisconsin is one of the subsidiaries of Bankers Life, which is owned by CNO
The company offers various types of life insurance products, such as term life, whole life, universal life, and indexed life.
The company has a long history and a strong financial rating, but it also has a poor reputation and many complaints
The company’s contact information, claims process, and address are available on its website or by phone.
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