Bankers Life and Casualty life insurance is not a scam, and the company is a subsidiary of CNA Financial Group, as of 2015, states Bankers Life. The Chicago-based company has been doing business since 1879. It offers life and health insurance, and financial products to retirees or workers approaching retirement.
Bankers Life and Casualty Company promotes its products under the Bankers Life brand. The company has offered Medicare supplement insurance policies since the 1960s, and Colonial Penn Life Insurance Company fills that role for the company, notes Bankers Life. New York State has authorized Bankers Conseco Life Insurance Company to offer Bankers Life insurance products in the state.