COLORADO BANKERS LIFE INSURANCE COMPANY . Bankers Life’s permanent life insurance policies offer living benefits, which build cash value that you can access through loans and withdrawals. The cash can then be used however you’d like–add to your retirement income, pay off debts, or cover emergency expenses. Acquiring a loan means that you do not pay taxes at the time of the withdrawal. Annuities are designed for long-term accumulation of money; surrender and withdrawal fees may apply on early withdrawals. John Murphy . For questions about a Bankers Life check received, please call Bankers Life customer service at 1-800 839-2731. For questions about a Colorado Bankers Life check received, please call Colorado Bankers Life customer service at 1-800 367-7814. 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. Colorado Bankers Life Insurance Company is open Monday through Friday 8 AM to 6 PM Eastern Time. SOUTHLAND NATIONAL INSURANCE CORPORATION . Obtain a loan against the life insurance policy. 4 Annuity guarantees are backed by the claims-paying ability of Colorado Bankers Life Insurance Company®. Updated August 26, 2019 . (RMD distributions are included in the 10% free withdrawal amount.) 1. Special Deputy Rehabilitators Response. The surrender charge period is typically 3 to 7 years after you purchase the annuity. to www.cblife.com review information from the North Carolina Department of Insurance, including the application for a hardship distribution. 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. What are the best phone numbers to call with questions? 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. - Colorado Bankers Life: 1-800-367-7814 - Bankers Life: 1-800-839-2731 Our team of experienced insurance agents and Financial Representatives is proud to help our customers achieve a secure financial future and peace of mind. Annuity withdrawals are subject to income tax and withdrawals prior to age 59½ may also be subject to an IRS penalty. Sincerely yours, Michael Dinius . 16) How will death claims on annuity contracts be handled? BANKERS LIFE INSURANCE COMPANY . PRODUCER FREQUENTLY ASKED QUESTIONS . The Bankers Life office in Denver, Colorado has provided our community with knowledgeable life insurance, health insurance, annuities, and retirement planning recommendations. 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