erage in the early years of the policy's life, but is generally lower than the premium for comparable term insurance coverage in the later years of the policy's life. These policies combine insurance protection with a savings component that gradually increases in amount over the life of the policy. The policyholder may borrow against the savings component generally at a rate of interest lower than that available from other lending sources. The policyholder may also choose to surrender the policy and receive the accumulated cash value rather than continuing the insurance protection. Term life products offer pure insurance protection for life with a guaranteed level premium for a specified period of time-typically 5, 10, 15 or 20 years. In some instances, these products offer an option to return the premium at the end of the guaranteed period. Traditional life products also include graded benefit life insurance products. The company’s Colonial Penn segment markets graded benefit life policies under its own brand name using direct response marketing techniques. New policyholder leads are generated primarily from television, print advertisements, direct response mailings and the Internet. Traditional life products also include single premium whole life insurance. This product requires one initial lump sum payment in return for providing life insurance protection for the insured's entire lifetime. Marketing and Distribution The company’s insurance subsidiaries develop, market and administer health insurance, annuity, individual life insurance and other insurance products. It sells these products through three primary distribution channels: career agents, independent producers (some of whom sell one or more of its product lines exclusively) and direct marketing. The company’s insurance subsidiaries collectively hold licenses to market its insurance products in all fifty states, the District of Columbia, and certain protectorates of the United States. Career Agents: The products of the Bankers Life segment are sold through a career agency force of approximately 4,500 producing agents working from approximately 300 Bankers Life branch offices and satellites. These agents sell Bankers Life policies, as well as Medicare Advantage plans primarily through distribution arrangements with Humana, Inc. and United HealthCare, and typically visit the prospective policyholder's home to conduct personalized kitchen-table sales presentations. After the sale of an insurance policy, the agent serves as a contact person for policyholder questions, claims assistance and additional insurance needs. Independent Producers: The products of the Washington National segment are primarily sold through the company’s wholly-owned marketing organization, PMA. In addition, Washington National's products are sold through a network of independent agents, insurance brokers and marketing organizations. The general agency and insurance brokerage distribution system consists of independent licensed agents doing business in all 50 states, the District of Columbia, and certain protectorates of the United States. Direct Marketing: This distribution channel engages primarily in the sale of graded benefit life insurance policies through Colonial Penn. Competition The company’s main competitors for agent-sold long-term care insurance products include Genworth, Northwestern Mutual and John Hancock Financial Services. Its main competitors for agent-sold Medicare supplement insurance products include Blue Cross and Blue Shield Plans, Mutual of Omaha and United HealthCare. The company’s main competitors for life insurance sold through direct marketing channels include Gerber Life, MetLife, Mutual of Omaha, New York Life, Massachusetts Mutual Life Insurance Company and subsidiaries of Torchmark Corporation (Torchmark). Its main competitors for supplemental health products sold through its Washington National segment include AFLAC, subsidiaries of Allstate, Colonial Life and Accident Company and subsidiaries of Torchmark. History The company was founded in 1979. It was formerly known as Conseco, Inc. and changed its name to CNO Financial Gr
cno financial group inc (CNO:New York)
11825 North Pennsylvania Street
Carmel, IN 46032
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