re Long-term care products provide coverage, within prescribed limits, for nursing homes, home healthcare, or a combination of both. The company sells the long-term care plans primarily to retirees and, to a lesser degree, to older self-employed individuals in the middle-income market. Nursing home care policies cover incurred charges up to a daily fixed-dollar limit with an elimination period (which, similar to a deductible, requires the insured to pay for a number of days of nursing home care before the insurance coverage begins), subject to a maximum benefit. Home healthcare policies cover incurred charges after a deductible or elimination period and are subject to a weekly or monthly maximum dollar amount, and an overall benefit maximum. Comprehensive policies cover both nursing home care and home healthcare. The company sells long-term care insurance through the Bankers Life career agent distribution channel. Prescription Drug Plan and Medicare Advantage Bankers Life primarily partners with Humana, Inc. and United HealthCare to offer Medicare Advantage plans to its policyholders and consumers nationwide through its career agency force and receives marketing fees based on sales. Supplemental Health Products Supplemental health policies provide fixed or limited benefits. Cancer insurance and heart/stroke products are guaranteed renewable individual accident and health insurance policies. Payments under cancer insurance policies are made directly to, or at the direction of, the policyholder following diagnosis of, or treatment for, a covered type of cancer. Heart/stroke policies provide for payments directly to the policyholder for treatment of a covered heart disease, heart attack, or stroke. Accident products combine insurance for accidental death with limited benefit disability income insurance. Hospital indemnity products provide a fixed dollar amount per day of confinement in a hospital. Other Health Products This category includes various other health products, such as disability income products, which are sold in small amounts and other products, such as major medical health insurance which are no longer actively marketed. Annuities Annuity products include fixed index annuity, traditional fixed rate annuity and single premium immediate annuity products sold through Bankers Life. Annuities offer a tax-deferred means of accumulating savings for retirement needs, and provide a tax-efficient source of income in the payout period. The company’s major source of income from fixed rate annuities is the spread between the investment income earned on the underlying general account assets and the interest credited to contractholders' accounts. Fixed Index Annuities: These products have guaranteed minimum cash surrender values, regardless of actual index performance, and the resulting indexed-based interest credits applied. Other Fixed Rate Annuities: These products include fixed rate single-premium fixed interest annuities, flexible premium fixed interest annuities and single-premium immediate annuities. Life Insurance Life products include traditional and interest-sensitive life insurance products. These products are sold through the Bankers Life, Washington National, and Colonial Penn segments. Interest-Sensitive Life Products: These products include universal life and other interest-sensitive life products that provide life insurance with adjustable rates of return related to interest rates. These products are marketed by independent producers and career agents (including independent producers and career agents specializing in worksite sales). Universal life products include fixed index universal life products. Traditional Life Traditional life policies, including whole life, graded benefit life, term life and single premium whole life products, are marketed through independent producers, career agents and direct response marketing. Under whole life policies, the policyholder generally pays a level premium over an agreed period or the policyholder's lifetime. The annual premium in a whole life policy is generally higher than the premium for comparable term insurance cov
cno financial group inc (COS:Frankfurt)
11825 North Pennsylvania Street
Carmel, IN 46032
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