Bankers Life and Casualty, more commonly known as Bankers Life, was founded in Chicago, Illinois, in 1879 as Hotel Men’s Mutual Benefit Association. The company was purchased by John MacArthur in 1935, who renamed the company and worked as CEO until his death in 1978. The company sells life insurance, medical insurance, and accident insurance.
The company was the first to offer Medicare supplement insurance. After Mac Arthur’s death, the company was eventually sold to CNO Financial Group, a holding company for insurance companies. Bankers Life still offers Medicare supplemental insurance, life insurance, as well as annuities and long term care insurance.
As of 2015, the company had more than $19 billion in assets and had processed more than 8.5 million claims. Company headquarters are located in Chicago, Illinois.