Bankers Life: Company Profile & Background Check FAQs

Bankers Life and Casualty Company, which does business as Bankers Life, was founded in 1932 in Chicago, Illinois, as a mutual life insurance company. In its early decades under owner John D. MacArthur, the company grew rapidly by selling low-premium policies to middle-income families, a market that was traditionally underserved by the insurance industry. By 1977 it had become the second largest health and accident insurance company in the United States. Since November 1992, Bankers Life has been a subsidiary of CNO Financial Group (formerly Conseco), an insurance holding company based in Carmel, Indiana, and it remains headquartered in Chicago.

Today, Bankers Life focuses on the insurance and retirement needs of middle-income adults who are middle-aged or retirement-aged. Its product lineup includes life insurance, long-term care insurance, annuities, and Medicare-related products such as Medicare Advantage plans, Medicare Part D prescription drug coverage, and Medicare supplement policies, along with supplemental health plans for critical illness. The company distributes these products primarily through a dedicated field force of career insurance agents and financial representatives who work from community-based sales offices across the United States.

Because of this branch-office model, much of the Bankers Life workforce consists of licensed insurance agents, financial representatives, sales managers, and office support staff, along with corporate roles in underwriting, claims, customer service, compliance, and technology. Agents work directly with consumers on sensitive financial and health decisions, which is one reason screening and licensing requirements are a standard part of joining the company.

Company culture and employee programs: Bankers Life emphasizes training and licensing support for new agents, and many of its field positions are structured as commission-based sales roles with defined career paths into management. The company has also had a long-running charitable relationship with the Alzheimer's Association, organizing annual fundraising campaigns since 2003. Benefits and compensation structures vary significantly by role, particularly between corporate employees and field agents, so candidates should confirm details for their specific position. Common opportunities include:

Yes. Employers in the insurance and financial services industry, including Bankers Life, are legally permitted to conduct background checks on job candidates, provided they comply with federal, state, and local laws. In the United States, employment screening conducted through a consumer reporting agency is governed by the Fair Credit Reporting Act (FCRA), which requires disclosure, written consent, and specific adverse action procedures. Insurance companies also operate under state insurance regulations, which impose their own standards for who may be licensed to sell insurance products.

Bankers Life is generally reported to conduct background checks as part of its hiring and agent onboarding process. This is consistent with standard practice in the insurance industry, where agents handle customers' personal, financial, and health information and must hold state insurance licenses. The specific scope of a Bankers Life background check may vary by role, office location, and state licensing requirements, so candidates should review the disclosure documents they receive during hiring.

While steps vary by location and position, the Bankers Life hiring process for agent roles typically starts with an online application or a referral to a local branch office, followed by a phone screening and one or more interviews with a branch sales manager. Candidates pursuing agent positions generally need to obtain a state insurance license, and Bankers Life is known for supporting candidates through pre-licensing study and exams. A conditional offer is commonly followed by a background check and any state-required licensing screenings before onboarding and training begin. Corporate positions follow a more conventional interview process through CNO Financial Group's recruiting channels.

Yes. Anyone who sells insurance products in the United States must hold a producer license in the state where they work, and licensing typically involves its own state-run background review, which is separate from any employer screening. Many states ask licensing applicants about criminal history and may require fingerprinting. Candidates who want to become Bankers Life agents should factor licensing timelines and requirements into their job search, and be aware that state insurance departments can deny licenses for certain offenses, particularly those involving dishonesty or breach of trust.

Turnaround time depends on the searches included in the report, the courts and agencies involved, and the candidate's address history. Many background checks are completed within a few business days, but reports involving county criminal searches in multiple jurisdictions, or verifications that depend on third parties, can take longer. State licensing checks for insurance agents run on their own timelines as well. Candidates can learn more by reviewing background check turnaround times.

Employers choose which searches to include based on the role. For a position at an insurance company like Bankers Life, a background check may include some or all of the following:

Candidates should review their disclosure and consent forms to understand exactly which searches apply to their role.

Lookback periods depend on the type of search and applicable law. Under the FCRA, consumer reporting agencies generally cannot report most types of negative information older than seven years, though criminal convictions can often be reported for longer periods depending on the state, and exceptions apply for certain positions above specified salary thresholds. Several states impose stricter limits. Separately, state insurance licensing reviews may consider older conduct under their own rules, so agent candidates may effectively face two different review standards.

Bankers Life does not publicly publish a detailed policy on hiring candidates with felony records, and decisions are typically made case by case, weighing the nature of the offense, how long ago it occurred, and the responsibilities of the role. One important consideration for insurance roles: federal law restricts individuals convicted of certain felonies involving dishonesty or breach of trust from working in the insurance business without regulatory consent, and state licensing boards apply their own standards. Many states and cities have also passed "ban-the-box" laws that limit when employers can ask about criminal history. Candidates with records should answer application and licensing questions honestly and be prepared to provide context.

Candidates will typically be asked to sign a written disclosure and consent form before a background check begins. Applicants should be prepared to provide accurate personal information, including full legal name, date of birth, Social Security number, and address history, along with details needed for license verification if they are pursuing an agent role. Accurate, complete information helps ensure the right jurisdictions are searched and reduces delays.

The Fair Credit Reporting Act is a US federal law that governs how consumer reporting agencies collect, use, and share background check information. It requires employers to obtain written consent before running a background check and, before taking adverse action based on the results, to provide the candidate with a copy of the report and a summary of rights, plus a reasonable opportunity to dispute inaccurate information. For a deeper look at how the Fair Credit Reporting Act (FCRA) and EEOC guidance protect job applicants, review Checkr's overview.

Running a personal background check with Checkr lets you preview what Bankers Life may see and helps you identify potential inaccuracies before they affect your application. In one secure report you can review:

Create your report in minutes at Checkr Personal Background Checks. To showcase verified credentials proactively, build a free Checkr Profile you can share with recruiters, hiring managers, or potential employers.

Check your report status in the Candidate Portal. Or, visit the Checkr Help Center for FAQs, dispute steps, and to contact support.

The resources and information provided here are for educational and informational purposes only and do not constitute legal advice. Always consult your own counsel for up-to-date legal advice and guidance related to your practices, needs, and compliance with applicable laws.