Bankers Life Insurance Review

Investors in retirement planning will be interested in Bankers Life. You can’t apply for one of its three main insurance plans online, and the insurer still does paperwork the old-fashioned way. Here’s our Bankers Life Insurance Review for you.

Pros and Cons of Bankers Life Insurance

Bankers Life Insurance Review - Bankers logo


  • The provision of a customized level of service
  • Taking a comprehensive approach to retiring
  • A substantial amount of money


  • There aren’t any examples of this on the internet.
  • Customization options are restricted.
  • Promotional techniques aimed at increasing sales

What affects my rate with Bankers Life

Bankers Life, like the majority of insurers, does not publish its rates on the internet. The cost of premiums varies, and the final price you pay will depend on the following factors:

  • Type of policy
  • Amount and duration of insurance protection
  • Your physical and mental well-being are directly linked to your way of life
  • Your sexual orientation
  • Additionally, there are personal considerations to consider

How to get a quote from Bankers Life life insurance

In order to find out more about Bankers Life insurance, follow these steps:

  1. For further information, visit the Bankers Life website and click on Products.
  2. Click Get a quote on the next page.
  3. Enter your name, email address, and phone number.
  4. Select Life insurance in the box labeled “I’m interested in” and press the Send button.
  5. The insurance company will assign you to a local agent who will call you to go through the specifics.

What happens next?

Bankers Life provides you with the ability to request a callback once you view your quotation. You’ll be contacted by phone to discuss next steps if you decide to proceed.

What types of life insurance coverage does Bankers Life offer?

Bankers Life keeps it simple with three policies:

  • Term life insurance. If you die during the duration of the insurance, you will receive a death benefit guaranteed by this policy.
  • Insurance for the rest of your life. Long-term coverage that generates cash value at a preset rate determined by the insurer is provided by this permanent policy.
  • Life insurance that’s available to everyone. There is a cash value in this policy that is invested in multiple sub accounts, thus the risks are larger, but the possible rewards are bigger as well.

What riders can I add to my policy?

Customers of this insurance have the option of adding riders to their policies to meet their specific needs. Extras like these can be added to your policy:

  • Accelerated death benefits riders. A percentage of your death benefit is paid out while you’re alive to cover expenditures like hospital bills in the event of a terminal illness.
  • An additional insurance policy in case of accidental death. Having an accident-related death, such as in a vehicle accident, results in a larger ultimate death benefit.
  • Riders who are under the age of 18. Your life insurance policy may provide coverage for eligible children up to a certain amount, such as $10,000.
  • Rider for disability income. This rider increases your policy’s value if you become handicapped.
  • Rider that ensures you’ll be covered by insurance. If you want to enhance your policy’s face value or buy a new policy at a later date, you can do so with this rider without providing proof of insurability.
  • Rider with a low risk of injury over the long term. Reaffirms throughout the duration of the rider that your benefit amount will remain constant.
  • Rider for the advantage of the payer. Rider that ensures premiums are not charged if the individual paying for the policy becomes handicapped before the insured reaches the age of eighteen is commonly added to a juvenile policy.
  • Rider waiving the right to a higher price. If you become disabled, your monthly insurance cost is waived.

Bankers Life life insurance reviews and complaints

Better Business Bureau (BBB) accreditation and an A+ rating for Bankers Life may be found here. The Better Business Bureau has received 85 complaints in the previous three years, and customers give the insurance a 2 out of 5 star rating, indicating that customer service may be better.

Visit our review of AXA Life Insurance Review for one more insurance review.

Default image
Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
Articles: 89