CNO Financial Group, Inc. (CNO), through its subsidiaries, engages in the development, marketing, and administration of health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. The company focuses on serving middle-income pre-retiree and retired Americans. It sells its products through three distribution channels, such as career agents, independent producers and direct marketing. The company’s primary subsidiaries include Bankers Life and Casualty Company (Bankers Life); Washington National Insurance Company (Washington National); and Colonial Penn Life Insurance Company (Colonial Penn). Segments The company’s segments include Bankers Life; Washington National; and Colonial Penn. Bankers Life markets and distributes Medicare supplement insurance, interest-sensitive life insurance, traditional life insurance, fixed annuities and long-term care insurance products to the middle-income senior market through a field force of career agents, financial and investment advisors, and sales managers supported by a network of community-based sales offices. The Bankers Life segment includes primarily the business of Bankers Life. Bankers Life also has various distribution and marketing agreements with other insurance companies to use Bankers Life's career agents to distribute Medicare Advantage and prescription drug plans products. Washington National, which markets and distributes supplemental health (including specified disease, accident and hospital indemnity insurance products) and life insurance to middle-income consumers at home and at the worksite. These products are marketed through Performance Matters Associates of Texas, Inc. (PMA, a wholly owned subsidiary) and through independent marketing organizations and insurance agencies including worksite marketing. The products being marketed are underwritten by Washington National. This segment's business also includes certain closed blocks of annuities and Medicare supplement policies. Colonial Penn, which markets primarily graded benefit and simplified issue life insurance directly to customers in the senior middle-income market through television advertising, direct mail, the Internet and telemarketing. The Colonial Penn segment includes primarily the business of Colonial Penn. Strategy The key elements of the company’s strategy include focusing on initiatives that drive sales, including lead programs, new products, agent recruitment and retention; expanding offering middle-market consumers a range of investment and planning solutions; and exploring non-organic growth opportunities that are focused on the middle market, fill product gaps, expand its distribution and geographic footprint and/or enhance agent recruiting. Products Health Products Medicare Supplement Medicare is a federal health insurance program for disabled persons and seniors (age 65 and older). Part A of the program provides protection against the costs of hospitalization and related hospital and skilled nursing facility care, subject to an initial deductible, related coinsurance amounts and specified maximum benefit levels. The deductible and coinsurance amounts are subject to change each year by the federal government. Part B of Medicare covers doctor's bills and various other medical costs not covered by Part A, subject to deductible and coinsurance amounts for charges approved by Medicare. The deductible amount is subject to change each year by the federal government. Medicare supplement policies provide coverage for many of the hospital and medical expenses which the Medicare program does not cover, such as deductibles, coinsurance costs (in which the insured and Medicare share the costs of medical expenses) and specified losses, which exceed the federal program's maximum benefits. The company’s Medicare supplement plans automatically adjust coverage to reflect changes in Medicare benefits. In marketing these products, the company concentrates on individuals who have become eligible for Medicare by reaching the age of 65. Bankers Life sells Medicare supplement insurance. Long-Term Ca
cno financial group inc (CNO:New York)
11825 North Pennsylvania Street
Carmel, IN 46032
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