PRODUCTS


Like many Americans, you may be concerned about:

  • Enough money for retirement.
  • Loss of pay due to disability.
  • Financial stress due to illness.
  • Providing for loved ones in case of death

CBLife Individual Solutions' family of supplemental, voluntary products are designed to help meet these challenges.

Security Builder Plan

Modified whole life insurance with a flexible premium annuity rider.

Security Builder Plan offers an affordable, flexible way to put your money to work protecting your family in the event of your terminal illness and/or death and accumulating assets for your future needs through the flexible premium annuity rider (FPAR).

Base policy

During the first 12 months the policy is in force, 100% of premium is applied to the base life insurance policy and riders (other than the FPAR). Beginning in the 13th month of the life policy, the premium splits with approximately 50% of the premium continuing to fund the base life insurance policy and any riders (other than the FPAR) and approximately 50% funding the FPAR.2

The base policy's death benefit remains level for 10 years or until age 65 (whichever is later), after which time the death benefit reduces by 50%. The policy face amount reduces by 50% at age 65 or after 10 years, whichever is later (premiums will remain as is).

FPAR3

A non-tax qualified, flexible premium annuity rider that is automatically included with the standard Security Builder Plan, the FPAR has a currently credited interest rate (set monthly) that is fixed for the first 12 months the FPAR is in force. On each policy anniversary date, a new currently credited interest rate will change to the rate currently declared by the Company at that time, and that rate will remain fixed for the next 12 months the policy is in force. The minimum guaranteed interest rate (MGIR), which is calculated based on the 5-year Constant Maturity Treasury (CMT) rate; is a range within 1% to 3%. The MGIR is set at policy issue and is guaranteed for the life of the policy.

Security Builder Plan is an affordable, flexible way to put your money to work protecting your family and saving for your future needs.

1 This piece provides a brief summary of product features. The policy and riders associated with each product will contain the actual terms, limitations and exclusions that apply.

2 Premium for a policy that includes the select riders will not reduce by exactly ½ beginning in the second year.

3 The Flexible Premium Annuity Rider (FPAR) is neither a traditional IRA nor a Roth IRA. Annuity withdrawals prior to age 59 1/2 may be subject to federal income taxation. Consult your tax advisor for your individual situation.

Timber Ridge Series®

Renewable and convertible ten-year term life insurance with a critical condition accelerated benefit rider.

Designed to help people facing the financial challenges associated with surviving a critical illness, Timber Ridge Series pays death benefits if you die and living benefits if you are diagnosed with a covered critical condition when you need those benefits the most.

Base policy

Critical illness benefits1 are built into the Timber Ridge Series term life insurance policy:

  • Death benefits are paid following your death while the policy remains in force. The death benefit available reduces by the amount of any living benefit payments made.
  • Living benefits are paid following the first-ever diagnosis of one of the covered conditions made on or after the 30th day after the policy effective date, regardless of additional treatment, actual expenses or other coverage.2 If 100% of the face amount is paid as a living benefit, the policy and coverage ends. Only one living benefit payout is available per policy for each type of benefit.3

Every ten years, the amount of premium will increase or you may elect to continue to pay the same premium and the coverage will decrease. Termination of the life insurance policy will terminate living benefits. This plan ends when you reach age 70. Options are available to convert the life insurance coverage prior to age 65 (see the policy for details).

Benefit payment is unrestricted
With Timber Ridge Series, you decide how to spend the benefit payment.

1 Some exclusions and exceptions apply. Benefits may differ or not be available in some states. Your agent will explain the benefits available in your state.

2 Covered conditions are defined in the policy. The summary contained in this piece is only an overview of the actual policy definitions, which should be consulted and will control.

3 For all covered conditions with the same percentage of face amount: 1) the face amount of the Policy will be reduced by the amount of benefit paid under the Rider; and 2) the premium for the Policy will be reduced to reflect that reduction.

Financial Security Plan

Ten-year term life insurance with a flexible premium annuity rider.

Financial Security Plan is a 10-year level renewable term life insurance policy that offers the following benefits:

  • It protects your family in the event of your terminal illness and/or death.
  • A flexible premium annuity rider (FPAR) can help you accumulate cash for your future needs through tax-deferred growth of contributions you make to it.
  • It provides a range of optional riders that extend term coverage and offer
    conversion options, provide spouse and/or child coverage, accelerated death benefits in the event of a terminal illness diagnosis, and additional death benefits if a death occurs by accident prior to age 60.

Base policy

During the first 12 months the Financial Security Plan policy is in force, 100% of premium is applied to the base life insurance policy and any selected riders (other than the FPAR). Beginning in the second year, the premium splits by either ½ or by ⅓ and that portion is applied to the FPAR in the second year and thereafter.1

The policy face amount reduces by 50% at age 65 or after 10 years, whichever is later (premiums will remain as is).

FPAR2

A non-tax qualified, flexible premium annuity rider that is automatically included with the standard Financial Security Plan, the FPAR has a currently credited interest rate (set monthly) that is fixed for the first 12 months the FPAR is in force. On each policy anniversary date, a new currently credited interest rate will change to the rate currently declared by the Company at that time, and that rate will remain fixed for the next 12 months the policy is in force. The minimum guaranteed interest rate (MGIR), which is calculated based on the 5-year Constant Maturity Treasury (CMT) rate; is a range within 1% to 3%. The MGIR is set at policy issue and is guaranteed for the life of the policy.

Financial Security Plan offers affordable term-life coverage with an annuity rider that is designed for long-term accumulation of money.

1 You can elect either an approximately 50% life/50% FPAR premium option or an approximately 67% life/33% FPAR premium option.

2 The Flexible Premium Annuity Rider (FPAR) is neither a traditional IRA nor a Roth IRA. Annuity withdrawals prior to age 59 ½ may be subject to federal income taxation. Consult your tax advisor for your individual situation.

Paycheck Protection Plus

Accident-only insurance.

Accidents, unfortunately, happen every day. An accident can interrupt, or terminate, a paycheck. Paycheck Protection Plus is designed to provide benefit payments if an accident occurs either on or off the job. It provides protection for total disability, hospitalization, medical treatment, death and dismemberment.

Features of Paycheck Protection Plus:

  • Your policy is free from coordination with other insurance coverage.
  • Cash benefits are paid directly to you.
  • Covers accidents anywhere in the world, 24 hours a day, 365 days a year.1
  • Premium rates can only change for the entire policy class, not for individual policies.
  • The plan is portable; you can continue your policy if you leave your present job.
  • The policy is guaranteed renewable until age 65.

With Paycheck Protection Plus, you continue to receive income after an accident even if your paycheck stops.

1 In order to pay any accident claim, Colorado Bankers Life Insurance Company first must receive appropriate supporting health records and a supporting statement from a doctor or authorized licensed health care provider.

Preferred Golden Protector

Whole life insurance designed for final expense needs.

Preferred Golden Protector whole life insurance offers a simple and economical way to provide assistance with final expenses in the event of your death. Preferred Golden Protector offers two plan choices with a minimum benefit of $2,000 and maximum coverage up to $50,000 (depending on the plan):

Preferred Golden Protector I: designed to pay the full face amount of the policy upon death from any cause from the first day coverage is in effect.

Preferred Golden Protector II: This option offers a graded death benefit with 30% of the face amount of the policy payable for non-accidental death during the first policy year, 70% in the second year, and 100% beginning in the third policy year.

Features of both plans:

  • Premiums are guaranteed never to increase.
  • An included Accelerated Death Benefit rider provides for early partial payment of the policy's face amount upon diagnosis of an illness that is confirmed by a physician to be terminal within 12 months.
  • An optional Lifetime Accidental Death Benefit is equal to and payable in addition to the face amount of the base policy if an accidental death occurs within the first two years of the policy.1
  • An optional Waiver of Premium Rider for Hospital or Nursing Facility Confinement waives the monthly premium payments following six consecutive months of confinement in a hospital or nursing facility for as long as you remain continuously confined.2

Funeral expenses, outstanding debt payment and medical bills are some ways to use Preferred Golden Protector benefit payments.

1 Not available in all states.

2 Proof of continuing confinement may be required every three months.

Our products are sold through experienced, licensed insurance agents. For more information on how to purchase our products, please call
1(800) 367-7814 x 2504.

Many Americans are underinsured in the current economy. Our voluntary benefit
plans can be purchased for as little as $5 per week and they are 100% portable.

Why CBLife Individual Solutions?

For 40 years, CBLife Individual Solutions has been providing our policyholders comprehensive insurance solutions, creating for our clients a superior customer service experience, and maintaining a tradition of sound financial stewardship. Our suite of voluntary, supplemental employee benefit programs provides value, flexibility and affordability when they're most needed.