INScompanies Blog

CHICAGO and BETHESDA, Md., Oct. 30 /PRNewswire/ — Bankers Life and Casualty Company and Coventry Health Care today announced the expansion of their strategic alliance under which Bankers Life will offer Coventry’s Advantra Freedom Plans to its policyholders and consumers.

Advantra Freedom is a new Medicare Advantage Private-Fee-For-Service plan designed to provide seniors with more choices and better coverage at lower cost than original Medicare and Medicare Advantage plans offered through HMOs.

“We are pleased to be expanding the successful partnership with Coventry Health Care that we launched last year with the rollout of the Coventry Medicare Part D prescription drug plan,” said Scott Perry, Executive Vice President and Chief Operating Officer of Bankers Life. “Adding Advantra Freedom to Bankers Life’s portfolio of Medicare supplement plans, standalone Medicare prescription drug plans, and long-term care insurance plans, provides our customers with a range of products to address their health-related concerns.”

“Coventry is excited to further develop its partnership with Bankers Life, which has already proven successful through the Medicare Part D Program,” said Fran Soistman, Executive Vice President of Coventry Health Care. “The proprietary sales force of Bankers Life represents a premier distribution channel with a history of success in the senior market and will prove to be an effective vehicle to offer the Advantra Freedom product to Medicare beneficiaries.”

With Advantra Freedom Private-Fee-For-Service plans, there are no provider restrictions — policyholders may go to any licensed doctor or hospital in the United States that is willing to provide care and accepts the plan’s terms of payment. Under most Advantra Freedom Plans, the policyholder pays no additional premium beyond the Medicare Part B premium. There are no, or limited, copays for most doctor visits, tests and hospitalization.

Many preventive care extras, such as allowances for eyewear and hearing aids, are included in Advantra Freedom plans, and no physical examination is required to enroll — even if an applicant has pre-existing conditions.

Eligible individuals may enroll in Private-Fee-For-Service plans, where available, beginning Nov. 15, 2007. Plans are currently available in 43 states and 75% of counties within those states.

Established in 1879 in Chicago, Bankers Life and Casualty Company focuses on the financial security needs of the mature market. The nationwide company, a subsidiary of Conseco, Inc., offers a broad portfolio of health and life insurance and retirement savings products designed especially for seniors. Visit us online at http://www.bankers.com/ .

Coventry Health Care is a national managed health care company based in Bethesda, Maryland operating health plans, insurance companies, network rental/managed care and workers’ compensation services companies. Coventry provides a full range of risk and fee-based managed care products and services, including HMO, PPO, POS, Medicare Advantage, Medicare Prescription Drug Plans, Medicaid, Workers’ Compensation services and Network Rental to a broad cross section of individuals, employer and government-funded groups, government agencies, and other insurance carriers and administrators in all 50 states as well as the District of Columbia and Puerto Rico. More information is available on the Internet at http://www.cvty.com/ .

SOURCE: Bankers Life and Casualty Company; Coventry Health Care

CONTACT: Barbara Ciesemier of Bankers Life and Casualty Company,
+1-312-396-7461, b.ciesemier@banklife.com ; or Drew Asher of Coventry Health
Care, Inc., +1-301-581-5717

Web site: http://www.conseco.com/
http://www.cvty.com/ 

Carmel, Ind. October 9, 2006— The Conseco insurance companies and Markman Group today announced that they have entered into an alliance to jointly develop a retirement solution for the middle-income retirement market. Together, Conseco and Markman will build a network of specially trained agents to respond to consumers’ retirement needs with a range of insurance products, including annuities, Medicare supplement and life insurance.

This new partnership is the product of a shared understanding of retirement concerns facing middle Americans today. Mike Dubes, president of Conseco Insurance Group, said “Consumers are considering the future of Social Security and the diminished availability of pension plans. They’re wondering how they’ll be able to guarantee the essential income they’ll need to fund retirement.” In response to these concerns, Conseco and Markman will introduce “21st Century Retirement Solutions,” a total-need approach to product and distribution for the middle-income retirement market.

“Seniors are most concerned with two retirement risks: having to pay catastrophic health care expenses and outliving their financial resources,” said Jeff Warren, president and chief marketing officer of Markman Group. “The 21st Century Retirement Solutions program will provide retirees with education and products to meet these needs. Presenting the program with Conseco’s portfolio of life, health and annuity products gives us the opportunity to train agents to look at their clients’ total longevity needs.”

“Markman Group is respected throughout our industry for its extensive knowledge of the senior market’s income needs and proven experience with recruiting and training independent distribution,” Dubes commented. “By combining Markman’s marketing strengths with Conseco’s diverse products and development capabilities, we can deliver a very compelling value proposition for independent agents who specialize in this market – including the products, training and resources they need to better serve their clients.”

About Markman

Markman Group and its predecessor Warren Group has over 30 years of experience in the senior market and in serving the independent agent. In recent years, Markman has developed successful marketing programs for major insurance carriers’ products, providing cross-sell training for a full-range of retirement market products and generating positive revenue growth for their carrier partners.

About Conseco

The Conseco insurance group, comprised of the insurance company subsidiaries of Conseco, Inc. (NYSE: CNO) based in Carmel, Indiana, serves over 2 million customers across America. The Conseco insurance companies offer supplemental health and life insurance products and annuities to working families and seniors. Visit us at www.conseco.com.

September 21, 2006 (CHICAGO, ILL.) – Bankers Life and Casualty Company today introduced a new approach to long-term care funding for its customers. Bankers’ Tax-Qualified Long-Term Care Accelerated Death Benefit Rider is now available with the company’s Innovative Life SP Whole Life Insurance product.

“The combination of the Innovative Life SP product and the new long-term care rider provides both a legacy-giving vehicle and the added security of long-term care protection,” said Scott Perry, executive vice president and chief operating officer for Bankers Life and Casualty Company. “The accelerated death benefit offered through this rider will serve as a long-term care ‘safety net’ for policyholders. In other words, it’s there if you need it, but whatever isn’t used for long-term care will pass as life insurance proceeds to the insured’s beneficiaries.”

The new rider gives access to the policy’s death benefits while the policyholder is receiving covered qualified long-term care services. Monthly benefits are paid directly to the policyholder, after a 90-day elimination period. Payment amounts are based on the policy’s death benefit at the time of qualification, and can be received for up to 25 months. Accelerated long-term care benefit amounts paid to the policyholder reduce the cash value of the policy.

“Bankers Life specializes in the insurance needs of the mature market. We know that this rider is a much-needed option for the senior market and an important competitive advantage for Bankers Life agents,” continued Perry.

The Innovative Life SP product from Bankers Life is a single-premium whole life insurance product that can be issued up to age 85. Innovative Life SP offers policyholders the simplicity of a single premium with the security of a tax-free death benefit. Policyholders have the option to borrow against the cash value of their policies, except when receiving accelerated death benefit payments through the policy’s new long-term care rider. Currently available in 17 states, the new product will have wider distribution by year-end.

Established in 1879 in Chicago, Bankers Life and Casualty Company focuses on the financial security needs of the mature market. The nationwide company, a subsidiary of Conseco, Inc., offers a broad portfolio of health and life insurance and retirement savings products designed especially for seniors. Visit us online at www.bankers.com.