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BBB Business Review

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Bankers Life is a Chicago life insurance company which provides a broad selection of life and health insurance products designed especially for Americans who are near or in retirement. The Bankers Life brand is a part of CNO Financial Group, Inc., whose companies provide insurance solutions that help protect the health and retirement needs of working Americans and retirees.

With over 300 offices across the country, their more than 5,200 insurance agents live and work in the communities they serve, allowing them to create customized plans and helping them meet their goals for a secure retirement.

Visit the website for Bankers Life to learn more about how their products help protect the health and retirement needs of working people and retirees.

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Bankers Life meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Bankers Life include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 184 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Customer Complaints Summary Read complaint details

184 complaints closed with BBB in last 3 years | 44 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 34
Billing/Collection Issues 21
Delivery Issues 55
Guarantee/Warranty Issues 4
Problems with Product/Service 70
Total Closed Complaints 184

Customer Reviews Summary Read customer reviews

11 Customer Reviews on Bankers Life
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 11
Total Customer Reviews 11

Additional Information

BBB file opened: January 01, 1963 Business started: 01/17/1879 Business started locally: 01/17/1879 Business incorporated 04/01/1880 in IL
Type of Entity


Business Management
Erin Loniello, Director, Marketing Services Chris Campbell, SVP, Marketing and Communication Scott Goldberg, President
Contact Information
Principal: Erin Loniello, Director, Marketing Services
Number of Employees


Business Category

Insurance - Life Insurance - Long Term Care Annuities Retirement Planning Service Insurance Services Financial Services Insurance - Medicare Supplement Insurance Agencies and Brokerages (NAICS: 524210)

Alternate Business Names
Bankers Conseco Life Insurance Company CNO Services LLC Colonial Penn Life Insurance

Customer Review Rating plus BBB Rating Summary

Bankers Life has received 3.68 out of 5 stars based on 11 Customer Reviews and a BBB Rating of A+.

BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.