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CNO Financial Group

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LAST UPDATED: October 29th, 2021

CNO Financial Group is an insurance holding company that provides life insurance through a selection of brands. These brands include Bankers Life, Colonial Penn, and Washington National. Until 2010, the company was known as Conseco. Conseco had a history of bankruptcy, but CNO Financial Group is now a strong, financially stable company backed by an impressive board of executives. 

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The Good

  • Financial Standing
  • Highly Experienced Executives
  • Various Insurance Options Available

Financial Standing

CNO Financial Group and its subsidiaries have received excellent financial ratings. All companies under the CNO Financial Group have received a rating of A- from A.M Best, Standard & Poor’s, and Fitch. Moody’s gave all CNO Financial Group companies a rating of A3, with a stable outlook for the future. 

Aside from assessments given by rating agencies, CNO Financial Group discloses strong financial statistics. The company's website discloses that the company has earned $3.8 billion in revenue, with a profit of $362 million. In addition, the company claims $388 million in liquidity, which would equip CNO Financial Group to withstand any variation or decline in the market. 

Highly Experienced Executives

The executives at CNO Financial Group have impressive professional backgrounds. Many of the executives on the board have previous experience as Chief Executive Officers at different companies. Gary C. Bhojwani, the current CEO, has more than 20 years of CEO experience at various insurance companies. He has been the CEO since 2018.

It is clear that the professionals at CNO Financial Group are accomplished. Customers can feel confident working with a subsidiary of CNO Financial Group, knowing that the state of the company is in good hands.

Various Insurance Options Available

Under CNO Financial Group, companies offer Whole, Term, and Universal Life Insurance. The company aims to provide affordable insurance for middle-income Americans and retirees. Working with these subsidiary companies, CNO Financial has 3.2 million policies.


The Bad

  • History of Bankruptcy
  • Extensive Research Required

History of Bankruptcy

Under its previous name, Conseco, the company filed for bankruptcy in 2002. It was the third-largest filing of bankruptcy in American history. The company was reorganized and back on its feet by 2010. At this point, the company was renamed CNO Financial Group. 

Extensive Research Required

As an insurance holding company, CNO Financial Group does not offer life insurance directly. This requires the customer to do extensive research about CNO Financial Group’s subsidiaries and their policies. As mentioned earlier, there are over 3.2 million policies to choose from under the CNO Financial Group umbrella. 

The CNO Financial Group website has no information about rates or pricing on policies. To get an insurance quote, you would need to go through the subsidiary. Some companies will sell you a policy personally, while others will have you work with an agent. 

Each subsidiary company will have different offerings and customer experiences. It is recommended that you investigate not only policies of each provider, but also customer reviews. This can help you make a well-informed decision about which company to choose.


The Bottom Line

As a top publicly traded company in Indiana, CNO Financial Group has strong financial security. We recommend CNO Financial Group to customers who want to have many insurance options and are willing to research the best policy for their situation. 

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