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Bankers Life Insurance Review

Bankers Life will pique the curiosity of anyone with an interest in retirement planning. There is no option to apply for one of the company’s three primary insurance plans online, and all paperwork is still done by hand.

Pros and Cons of Bankers Life Insurance

Bankers Life Insurance Review - Bankers Logo


  • Delivering a specialized degree of customer service
  • Preparing for retirement as a whole
  • There is a large sum of money


  • This has never been done before, at least not on the internet.
  • Optional customization is limited.
  • Strategies of promotion aimed towards boosting sales

What affects my rate with Bankers Life

According to Bankers Life, which is typical of most insurance companies, there is no public availability of pricing on the internet. This fluctuates, and your ultimate bill will be determined by the following variables:

  • The policy’s types
  • Dimensions of insurance coverage, including cost and duration
  • There is a strong correlation between your physical and mental health and your way of life
  • Your sexual preferences and preferences of others
  • There are also individual aspects to take into account.

How to get a quote from Bankers Life life insurance

Follow these steps to learn more about Bankers Life insurance:

  1. Visit the Bankers Life website and click on Products for more information. Click On the next page, you may request a price estimate.
  2. Give us a little information about yourself.
  3. Select life insurance in the “I’m interested in” box and click the Send button to submit your information.
  4. When you phone the insurance company, a representative will contact you to go through the details.

What happens next?

Once you see your quote, Bankers Life gives you the option to request a callback. Choosing to proceed will result in a phone call from us to talk about the following steps.

What types of life insurance coverage does Bankers Life offer?

There are just three insurance plans offered by Bankers Life.

  • Term life insurance. A death benefit is guaranteed if you die while the insurance policy is active.
  • Insurance for the rest of your life. This long-term policy offers cash value at a predetermined rate defined by the insurer.
  • Life insurance that’s available to everyone. This insurance has a cash value that is invested in many sub-accounts, thus the risks are greater, but the potential benefits are greater as well.

What riders can I add to my policy?

Customers of this insurance company can customize their plans by adding riders to cover additional risks or expenses. These kinds of extras can be included in your coverage as an option:

  • Accelerated death benefits riders. In the case of a terminal illness, a portion of your death benefit is paid out while you are still alive to cover expenses such as medical costs.
  • An additional insurance policy in case of accidental death. If you die as a consequence of an accident, such as in a car accident, you will receive a bigger death benefit.
  • Riders who are under the age of 18. As much as $10,000 in coverage for qualified children may be included in your life insurance policy.
  • Rider for disability income. This endorsement raises the value of your coverage if you become disabled.
  • Rider that ensures you’ll be covered by insurance. You can use this rider to increase the face value of your policy or to purchase a new policy at a later date without having to provide proof of insurability.
  • Rider with a low risk of injury over the long term. For the term of the rider, this reaffirms your benefit amount will not change.
  • Rider for the advantage of the payer. If the person paying the policy becomes disabled before the insured turns eighteen, a rider assures that premiums will not be paid.
  • Rider waiving the right to a higher price. In the event of a disability, you won’t have to pay an insurance premium.

Bankers Life life insurance reviews and complaints

Bankers Life has both BBB accreditation and an A+ rating, which can be viewed on their website. This company’s BBB score is 2 out of 5, which indicates that customer service may be better. The BBB received 85 complaints in the preceding three years.

For another car insurance review, visit our review of AXA Life Insurance Review.

Discover How Much YOU Can Save on Life Insurance

Our customers save as much as 35% compared to traditional life insurance offers…

Compare Quotes →

Avatar photo About the author: David Krug is the CEO/President of PolicyPeak, a modern and tech-driven life insurance company. David noticed a gap in the market for personalized policies at an affordable price. He founded PolicyPeak in 2022 with the goal of simplifying the buying process for consumers and offering policies tailored to their unique needs.