Keep in mind that if there is any lapse in the life insurance policy coverage, you may need to come up with the money to pay the taxes on the portion of the cash value that is greater than your premium payment amount. BANKERS LIFE INSURANCE COMPANY . Withdrawal Charges If a policyowner is required to take a Required Minimum Distribution (RMD) on a tax-qualified annuity, the withdrawal charges are waived on any RMD amount that exceeds the 10% free withdrawal provision. John Murphy . What are the best phone numbers to call with questions? Colorado Bankers Life Insurance Company has partnered with Kurtzman Carson Consultants LLC (KCC) as our administrator for this process. For questions about a Bankers Life check received, please call Bankers Life customer service at 1-800 839-2731. The Bankers Life office in Denver, Colorado has provided our community with knowledgeable life insurance, health insurance, annuities, and retirement planning recommendations. COLORADO BANKERS LIFE INSURANCE COMPANY . (RMD distributions are included in the 10% free withdrawal amount.) Acquiring a loan means that you do not pay taxes at the time of the withdrawal. For questions about a Colorado Bankers Life check received, please call Colorado Bankers Life customer service at 1-800 367-7814. 16) How will death claims on annuity contracts be handled? Bankers Life’s permanent life insurance policies offer living benefits, which build cash value that you can access through loans and withdrawals. PRODUCER FREQUENTLY ASKED QUESTIONS . We observe the following holidays: New Year’s Eve Day, New Year’s Day, Dr. Martin Luther King Jr. Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, the day following Thanksgiving, Christmas Eve Day and Christmas Day. Special Deputy Rehabilitators Obtain a loan against the life insurance policy. 12/16/2020. The cash can then be used however you’d like–add to your retirement income, pay off debts, or cover emergency expenses. CBLife appreciates the opportunity to address the reviewer's concerns regarding her premium payments. Colorado Bankers Life Insurance Company is open Monday through Friday 8 AM to 6 PM Eastern Time. General Information . - Colorado Bankers Life: 1-800-367-7814 - Bankers Life: 1-800-839-2731 Updated August 26, 2019 . If you have any questions, please visit the Colorado Bankers Life Web Site . Do you have a question about the partial withdrawal distribution check you received? Response. Sincerely yours, Michael Dinius . to www.cblife.com review information from the North Carolina Department of Insurance, including the application for a hardship distribution. The surrender charge period is typically 3 to 7 years after you purchase the annuity. Colorado Bankers Life Insurance Company, Bankers Life Insurance Company, Southland National ... is the time frame during which the owner cannot withdraw funds without incurring a surrender charge. Our team of experienced insurance agents and Financial Representatives is proud to help our customers achieve a secure financial future and peace of mind. 4 Annuity guarantees are backed by the claims-paying ability of Colorado Bankers Life Insurance Company®. Annuity withdrawals are subject to income tax and withdrawals prior to age 59½ may also be subject to an IRS penalty. SOUTHLAND NATIONAL INSURANCE CORPORATION . Colorado Bankers Life Insurance Co. 1. Annuities are designed for long-term accumulation of money; surrender and withdrawal fees may apply on early withdrawals. You may also contact the Companies at (800) 367-7814. From the North Carolina Department of Insurance, including the application for a hardship distribution annuity withdrawals are subject an! 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