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Bankers Life and Casualty Company Launches New Simplified Issue Single Premium Whole Life Insurance Product

CHICAGO, June 1, 2011 - Bankers Life and Casualty Company today announced the latest addition to its LifeDirections portfolio by adding a simplified issue version of its Single Premium Whole Life insurance policy, the InnovativeLife SP I.

The new InnovativeLife SP I product is ideal for Boomers and retirees who want to substantially increase their legacy, leave money to a charity or have the proceeds paid directly to the beneficiaries.

The new product features a one-page application, single premiums as low as $2,500, simplified issue with only two qualifying medical questions, availability up to age 85, and in most states, an accelerated death benefit rider at no additional cost.

“InnovativeLife SP I nicely complements Bankers’ LifeDirections portfolio while helping meet the retirement goals of the middle market,” said Scott Perry, president of Bankers Life and Casualty Company, a national life and health insurer.  “This new product provides permanent life insurance protection that builds cash value at a guaranteed interest rate, essentially increasing the value of your estate.”

The InnovativeLife SP I product is currently available through Bankers’ career agents in select 30 states: AZ, CO, CT, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, ME, MI, MO, MS, NC, NE, NH, NJ, OH, OR, PA, SC, TN, TX, VA, WA and WI.  The remaining 20 states, including the District of Columbia, are expected to offer the product later this year. 

About Bankers Life and Casualty Company
Established in 1879 in Chicago, Bankers Life and Casualty Company focuses on the insurance needs of the retirement market.  The nationwide company, a subsidiary of CNO Financial group, Inc. (NYSE: CNO), offers a broad portfolio of life and health insurance retirement products designed especially for seniors.  Visit us online at