Our investment portfolio is comprised of high-grade, diversified holdings so you can rest assured that the money you provide us, through annuities, life insurance, or supplemental health policies, is secure.

1. Why choose a Bankers policy?
1. High-Quality Investments
I 95.1% of the Bankers portfolio is investment-grade.
2. Highly Liquid Portfolio
I 82.0% of our portfolio is invested in public securities that can be sold
easily to allow Bankers to meet our policyholder obligations.
3. Highly Diversified Portfolio
I Bankers’ portfolio includes a mix of 722 issuers.
4. Limited Exposure to Troubled Asset Classes
I Our investment‐grade corporates are in less cyclical industries, such as
defense, utilities and food & beverage.
5. Diversified Mortgage Exposure
I 67.9% of our residential mortgage investments are AAA rated.
I Less than one-quarter of a percent (0.10%) of our entire portfolio is
subprime, so exposure is almost non-existent.
I Our portfolio’s mortgage exposure is diversified geographically and
by loan size.
6. Corporate Stability
I In business for 130 years
I More than 1.3 million policyholders
I Paid $1.2 billion in policy benefits in 2009
As of April 30, 2010

2. Let us find a safe harbor for your
hard-earned savings.
Our investment portfolio is comprised of high-grade, diversified holdings
so you can rest assured that the money you provide us, through annuities,
life insurance, or supplemental health policies, is secure.
Bankers Life and Casualty Company Rating Composition
As of April 30, 2010
95.1% Investment-Grade B or lower
1.3% AAA
BB 15.4%
3.6%
AA
8.1%
BBB
40.9%
A
30.7%
Portfolio Composition
Investment-Grade Corporates . . . . . . . . . . . . . . . . . . . . . 63.7%
High Yield Corporates . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.8%
Agency & Non-Agency Mortgage Securities . . . . . . . . . . . 8.2% This information reflects the investment portfolio
Commercial Mortgage-Backed Securities . . . . . . . . . . . . . 5.8% of Bankers Life and Casualty Company, which
Asset-Backed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3% is a subsidiary of CNO Financial Group, Inc.,
a holding company for a group of insurance
Governments & Municipals. . . . . . . . . . . . . . . . . . . . . . . . 7.7%
companies operating throughout the United
Commercial Mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.2% States. As of March 31, 2010, CNO Financial
Cash & Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.3% Group, Inc. reported total assets of $30.8 billion
and total liabilities of $27.1 billion.
17601 (6/10)