by Gordon Gates
For more than 130 years, Bankers Life and Casualty Company has been helping individuals and families protect their financial security and prepare for retirement. Bankers serves the retirement market through a broad portfolio of affordable, quality health and life insurance products and annuities.
To serve the market, Bankers Life demands the highest level of integrity and effort from it’s employees. To fill these jobs, Bankers Life is reaching out to our Military Veterans community and is ready to hire right now! They have joined with HireVeterans.com, America’s premier job board to hire America’s best.
With over 200 branch sales offices across the country, Bankers’ more than 5,000 career agents live and work in the communities they serve. Bankers customers have their own Bankers agent who takes the time to get to know their family, listens to their needs and values, and is dedicated to helping them meet their goals for a secure retirement.
Bankers Life and Casualty Company has offered challenging and rewarding sales, sales management and corporate career opportunities since 1879. Headquartered in Chicago, Bankers specializes in serving the growing senior market, offering solid insurance protection and top quality service that have made Bankers an insurance industry leader.
So explore the personal growth and advancement opportunities offered at Bankers. You’ll not only discover the essence of success – you’ll want to become a part of it.
Branch Office Sales Management Careers
Play a critical role in our sales organization, directing and managing a sales force in one of our 160+ branch offices. Our Career Sales Management Team oversees an expanding agency system, as well as all administrative activities within a given market segment. To learn more, click here: Explore Branch Office Management C
Bankers has one of the largest and most respected career agent organizations in the country. See why building your own professional practice and maximizing your earnings potential begins with Bankers: Explore Agent Careers
Learn more about Agent Careers… see how you and Bankers can start Growing Together
Bankers Life and Casualty Company is recruiting Financial Advisors with brokerage experience to join our ProEquities Financial Advisor Program at one of our more than 200 branch offices nationwide.
Managing your career is an important part of your personal and professional success, and an important part of the culture at Bankers. We offer competitive compensation and a commitment to professional growth. To learn more, click here: Explore Corporate Careers
Securities offered through ProEquities, Inc. a Registered Broker/Dealer and Member FINRA & SIPC. Insurance Products are offered by and insurance agents are contracted with Bankers Life and Casualty Company. Bankers Retirement Solutions and Bankers Life and Casualty Company are independent of ProEquities, Inc.
The Bankers Story
On January 17, 2004, Bankers Life and Casualty Company celebrated its 125th year of existence. Its longevity alone is remarkable. The company survived the economic peril of the Great Depression and continued operations through two World Wars. It has witnessed the rise of American industry in the 1800s and the ongoing technological revolution of the 21st century.
What is more remarkable is how Bankers evolved from a group of 19th century hotel owners and workers in need of insurance into one of America’s leading providers of lifestyle protection and retirement savings solutions for seniors. The Bankers story is a tale of change and innovation – one of struggle and triumph.
The Early Years
Bankers’ predecessor company, the Hotel Men’s Mutual Benefit Association of the United States and Canada, commenced operations on January 17, 1879. Fifty-six years later, in 1935, Chicago insurance man John D. MacArthur borrowed $2,500 to purchase an insolvent Bankers Life and Casualty Company from the Illinois Department of Insurance. Hotel Men’s Mutual Benefit Association, the Illinois Standard Life Insurance Company and Bankers Life and Casualty Company merged in 1942 to form one company, operating under the Bankers Life and Casualty Company name. John D. MacArthur became president of the merged companies in 1945.
Innovation, Strength and Stability
MacArthur studied the sales methods of the great American manufacturers who had mass marketed soaps, toothpaste, cosmetics, foods and branded merchandise of all kinds. He saw traditional methods of selling insurance as both expensive and wasteful and reasoned that if he could reduce the high cost of selling, he could reduce the cost of insurance and make coverage affordable to the common man.
From Bankers’ north side Chicago Home Office on Lawrence Avenue, MacArthur developed the concept of mass marketing low cost health insurance policies through the mail and Bankers’ business began to boom. Its meteoric rise to success during the late 1940s and early 1950s was unparalleled. Bankers quickly went from a pre-WWII home office staff of 50 to over 2,000 employees.
Bankers’ sales force, then commonly referred to as “White Cross Men”, canvassed the country and Bankers’ White Cross logo became a symbol of strength and stability. In 1945 Bankers Life and Casualty Company operated solely in Illinois and total premium was only slightly over $1 million. By the end of 1956, the White Cross Plan spanned most of the nation and Bankers’ life insurance in force totaled over a half billion dollars.
A Pioneer in the Senior Market
In the 1960s, Bankers turned its attention to a new frontier, America’s growing senior population. The Medicare bill, which provides health insurance for elderly Americans under social security, was signed into law by President Lyndon Johnson on July 30, 1965. Shortly thereafter, Bankers became one of the first companies in America to offer Medicare supplement insurance.
In the 1970’s, Bankers went on to become one of the first companies to develop and market nursing home insurance. Bankers expanded its portfolio of products to include retirement savings products by entering the fixed annuity business in 1977.
At the time of MacArthur’s death in January 1978, Bankers’ assets had surpassed $1 billion. Without the foresight of MacArthur and others at Bankers in the 1960s, Bankers would be a very different company today.
Bankers Today and Tomorrow
Bankers’ vision is to become America’s leading provider of lifestyle protection and retirement savings solutions for seniors. The company is market focused rather than product focused, and is well positioned to achieve this goal. It is the only broad-based financial services organization in the nation that is willing and able to make the claim “We Specialize in Seniors.”