FAQ

Our Customer Service Representatives can be reached toll free at 1.800.367.7814 and are available Monday through Friday from 8:00 a.m. to 5:00 p.m. Eastern ​Time.  You may also contact the Customer Service Department via email or facsimile at 303.220.8056. Our mailing address is:

Colorado Bankers Life Insurance Company

2327 Englert Drive
​​Durham, ​​NC ​27713​

​To view your annuity or fund balances, you must first register your policy or log into your account. Select the "Policy Info" tab. That will show not only your account balance, but also specifications of your policy.

​Withdrawal fees are determined by policy or product type. Please refer to your policy and/or view the information under the "Policy Info" tab.

​Yes, please refer to the specific annuity or fund account policy for explanation or visit www.irs.gov. Colorado Bankers Life does not provide tax counseling or advice. Please contact your tax advisor to see how any withdrawal may impact you.

Once signed into your account, please click on "Manage Account" tab, and then click on "Address – view and/or change your address."

Once signed into your account please click on the "Manage Account" tab, and then click on "Beneficiary – view or change your beneficiary"

You can contact our Customer Service department and one of our Customer Service Representatives can provide you with your agent’s contact information at 800.367.7814 Monday through Thursday from 8:00 a.m. to 5:00 p.m. MST and Friday from 8:00 a.m. to 3:00 p.m. MST.
Please review our products under the “Products” tab. There you will be able to review our products and services that would best fit you and your family’s needs. Our products are sold through experienced, licensed agents. For more information, please call 800.367.7814 x 2504 and we will have an agent contact you to provide more information.
Our standard is to process the claim within 7-14 business days after receipt of the completed claim forms.
Our standard is to process the claim within 7-14 business days after receipt of the completed claim forms.
  • For disability reimbursement: There is a seven day elimination period, and then reimbursements are calculated on a daily basis, based on the dates provided by your physician stated on the Attending Physician Statement (APS).
  • For Attending Medical Treatment ( AMT): We will reimburse per covered person up to $250 or $400 per accident depending on your schedule of benefits.  An itemized bill from the treating physician is required.
  • For hospitalization: We will require admission and discharge papers from the hospital as well as an itemized bill showing room charges for the duration of your stay.
Written notice of a claim must be given to us within six months from the date of the accidental injury.
This type of policy covers you for certain losses resulting from a covered accident only (i.e., illnesses are not covered). Limitations on benefits may apply. Basic hospital, basic medical and surgical or major medical coverage is not provided.
It means bodily injuries resulting from an accident that is the direct and independent cause of the loss, and which occur while this Policy is in force.
During the first two years of a loss total disability means the inability to perform all the substantial and material duties of your regular occupation. After the first two years of a loss, total disability means the inability to perform the material and substantial duties of any occupation for which you are qualified by education, training or experience.
A letter will be sent to your employer to verify restricted duty work before any disability benefits are paid.
A condition in which: 1) symptoms resulting from an injury existed within the two- year period before the policy’s date of issue; or 2) medical advice or treatment for an injury was recommended by, or received from, a physician within the two-year period before the policy’s date of issue.
An injury arising from, or in the course of, a regular occupation. If your injury is covered by worker’s compensation, it is deemed to be on-the-job.
Off-the-job injuries include any loss from injury not deemed to be on-the-job.
If you or any other covered person suffers an injury requiring medical treatment by a legally qualified physician within 60 days of an accident, we will pay an amount equal to the physician’s charges up to the maximum shown on the Schedule of Benefits Page.
If you return to work but find it impossible to perform all the substantial and material duties pertaining to your regular occupation, disability benefits will resume for the same condition if you return to disability within 60 days. We will pay no more than a total of 60 months of benefits for the same condition.
Changes to bank information must be submitted to us in writing. Download our Bank Draft Authorization Form here or from our Forms Page. The completed form can be submitted to us via email or via US Mail to:
Colorado Bankers Life Insurance Company
2327 Englert Drive
Durham, ​NC  27713
For updates to credit card information, please call our office at 800-367-7814.
We accept Bank Drafts, Credit Cards (Visa and Mastercard only), Periodic Payment such as checks or money orders, and Payroll Deduction.
We can accept changes in the method of payment once a quarter.
Insurance premium payments with Colorado Bankers Life can be made Monthly, Quarterly, Semi-Annually and Annually.
Yes. Please call us at 800-367-7814 so that we can update our records and give you information about what the new premium amount will be.
Premium payments are due by the 15th of the month.
Yes, if you do not pay your premium a monthly payment offer will be sent to the address on file.
At this time we are not able to accept payments online.
For premium payment issues or for any question about your policy, please contact us.
At this time we do not generate receipts for payments. We advance the ‘paid to date’ for your policy as part of our normal premium payment processing.
A policy that can be contested by CBL within the first two years of the policy’s effective/reinstate date.
We contest claims to verify that statements made while applying for a policy are, in the absence of fraud, factual representations. For example, we verify that medical questions on an application are answered truthfully.
For a contestable policy, our goal is to process the life insurance claim within 30 days upon receipt of all completed forms and medical records. For a non-contestable policy, our goal is to process the life insurance claim within 14 days upon receipt of all required documents.
We require an original or certified copy of the death certificate for all claims. It is the official legal record used to determine the manner and cause of death. The death certificate will be return to you when the claim is completed
Benefits are not payable if the death is as a result of suicide occurring during the first or second year of the policy. Colorado and North Dakota are after 1 year.
Life Insurance benefits cannot be paid directly to a minor beneficiary. In such cases, we require proof of guardianship of the minor’s finances, approved by the court or proof of a Uniform Transfers to Minors Act (UTMA/UGMA) Account. For additional information, please contact the Claims department.
Some states allow benefits to be paid under a Small Estate Affidavit if the amount payable is less than a specified amount (again, this amount is state specific). If the amount payable is greater than that allowed under the Small Estate Affidavit, we require a Certified Copy of the Letters of Administration for the Estate of the insured. This is a court-issued document and legal representation may be required.
The trustee of the Trust must complete the Trust Verification form. For more detailed information, please check the Department of Insurance website for the state in which you reside.
Yes, we would need the assignment on the company letterhead. The amount assigned must be signed by the named beneficiary/ies and the assignment must be made in the presence of a notary.
Yes, but, we would encourage you to name an individual as a beneficiary as many states do not allow funeral homes to be beneficiaries.

Yes, but we would need the following documents:
1.The claimant statement completed and signed by an authorized company representative
2.The tax ID number for the organization
3.The specific branch and location of the organization where the life insurance proceeds should be sent

For non-contestable claims, yes. However, on contestable claims- a friend may have the inability to obtain medical records, which may delay the processing of the claim and/or non-payment of the claim.
No, pets are not allowed as beneficiaries.
A POA expires on the date of death of the individual and has no effect on the claim handling.
No, we do not offer direct deposit of your benefit check.

Bodily injuries resulting from an accident that is the direct and independent cause of the loss, and which occurs while your Accident Medical Expense (AME) policy is in force.

This means a Covered Person's total and irrevocable loss of any of the following due to injury: sight to both eyes, speech, hearing to both ears, both arms above the elbow, or both legs above the knee. See Policy for further details.

This means the Covered Person dies as a direct result of an accident within 90 days of the accident.

Subject to the terms of your policy, during each calendar year if the Covered Person's accidental injury requires care by a Legally Qualified Physician, we will reimburse covered medical expenses incurred by the Covered Person as follows:

      1. Not to exceed the Accident Medical Expense Benefit amount for the Covered Person as shown in the Policy Specifications Page;
      2. Less the amount of any Accident Medical Expense Benefit already paid or pending payment for that calendar year; and
      3. Less the applicable deductible.

Depending on the type of accident, benefits are calculated in one of three ways:

      1. For Accident Medical Treatment (AMT): Reimbursement is per Covered Person, up to their scheduled benefit amount minus their deductible and minus any claims already paid or pending, if applicable. For reimbursement, a Statement/Explanation of Benefits (EOB) is required from the Covered Person's health insurance company.
      2. For Catastrophic Loss:  100% of the benefit amount will be paid. This benefit is payable once. Additional proof may be required.
      3. For Accidental Death:  The benefit would be doubled if the Covered Person's death is a direct result of an accident involving a common-carrier vehicle (i.e., public transportation) in which the Covered Person is a passenger. For all other accidents, 100% of the benefit amount will be paid.

Written notice of a claim must be received by us within 90 days after the date of the accidental injury.

You will need to complete the Claimant Statement, and a Legally Qualified Physician who treated you for your accidental injury will have to complete the Attending Physician Statement (APS). An Explanation of Benefits (EOB) form from your health care provider is required to process the accident medical expense reimbursement.

This is a statement from the Covered Person's health insurance company that outlines the dates of service, medical services provided and cost for services rendered.

Our standard is to process the claim within 7-14 business days after receipt of the completed claim forms and required documents.

Expenses for the following services that are medically necessary to treat the accidental injury of the Covered Persons:

      1. Treatment provided by a Legally Qualified Physician;
      2. Medical services received in a hospital; or
      3. Diagnostic x-ray or lab tests. 

Covered medical expenses do not include treatment of mental, psychological or emotional diseases or disorders, even if such disorders are caused by or related to an injury. Note: Physical therapy, chiropractic care, acupuncture or similar types of treatment are considered covered medical expenses only if performed by a Legally Qualified Physician or if such services are received in a hospital. See policy for further details.

A person – other than the policyowner or the Covered Person, or a member of their immediate family or a business associate of the policyowner or Covered Person – who is duly licensed and practicing medicine in the United States, and who is legally qualified to diagnose and treat sickness and injuries. The Legally Qualified Physician must be providing services within the scope of his or her license, and must be a board certified specialist where required under the Policy.

For the purpose of coverage under your policy, a calendar year is the period of time from January 1 to December 31 for that given year.

Only accidents occurring after the reinstatement of a policy will be covered.