Colorado Bankers Life Insurance Company

September 28, 2017  [redacted]
[redacted]
[redacted]  [redacted]    [redacted]  
         [redacted]...

[redacted]
         [redacted] Dear Mrs. [redacted], This letter is in response to the complaint letter from the Revdex.com received on September 25, 2017 regarding the above referenced policies.  After a review of your file, CBLife provides the following:  1)    On January 15th, 2017, [redacted], the writing agent, obtained information from you to complete applications with CBLife.  Two applications were submitted for a Modified Whole Life Insurance (SBL) and a separate Flexible Premium Deferred Annuity (FPDA).2)    Included with the applications was a signed presentation summary (enclosed) you initialed the following statements·         “I understand that I am applying for a Security Builder Life (SBL) plan, a modified whole life insurance policy.” ·         “I have also applied for a separate Flexible Premium Deferred Annuity contract” ·         “The premium paid for the SBL plan is non-refundable after the initial 30- day free look period.” The premiums for life insurance and annuity contract were disclosed on the signed presentation summary.3)    The applications stated that the combined premium of $85.00 would be charged semi-monthly.4)    These application forms were submitted by [redacted], the writing agent, to CBLife on January 15th, 2017.5)    CBLife issued policies [redacted] and [redacted] with the effective dates of February 2nd, 2017.6)    Both the Life Insurance policy and Annuity Contract (enclosed) were mailed to the address of record ([redacted]) on February 16th, 2017. Both the policies and the contracts explained the features of the products and provided for a thirty day right to examine which offered you the right to return the policy within 30 days for a full refund.  7)    CBLife did not receive notification of your request to cancel within 30 days. 8)    Payments have been made for these policies since February 2nd, 2017 through July 17th, 2017 in the amount of $877.79.9)    On July 11th, 2017, we refunded premiums in the amount of $57.21 for your life insurance policy and $139.46 for your annuity. 10)Our systems show that the last payment of premiums on your policies was drafted on June 29th, 2017 in the amount of $85.00.11)There is no record of any additional premiums being paid after the date of your surrender.12)  Our customer service representatives have requested proof of additional premium payments after your surrender in the form of bank records, but have not received any records from you.  Since your request to cancel was not provided within the 30 day right to examine period, and because the contract clearly stated that premiums for the policies would be collected semi-monthly, CBLife has determined that a refund of premiums for the life insurance coverage is not due to you. CBLife issued a life insurance policy and has provided valuable coverage as outlined in the policy. If you need further information regarding your complaint or have any questions, please contact the compliance department via email [redacted].  Sincerely,[redacted]
[redacted]

Please see the attachment in regards to your complaint.  If you have further questions please contact our compliance department at [email protected].

Apologies for the blank communication. We are currently awaiting a response from the agent who sold the policy to [redacted]. We have provided the agent with a deadline of October 4th to submit their response to our inquiry. We will provide a formal response to this complaint as soon as we receive...

an answer from our agent. Thank you,[redacted]

After review of our files it has been determined that CBLife does not have any insurance products for [redacted].  At this time CBLife considers this matter fully resolved.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Sincerely,  
[redacted]

December 24, 2015
Re: Revdex.com Case # 75271437
To whom it may concern:
This letter is in...

response to the complaint letter received on December 8, 2015 regarding the above referenced Case#.
After a review of the file, Colorado Bankers Life Insurance (CBL) provides the following:
On November 23, 2015, CBL received a call from complainant requesting a withdrawal of funds from her account.
On December 4, 2015, CBL received a follow-up call from complainant notifying us she had not received the check from CBL.
On December 7, 2015:
o CBL processed the withdrawal request.
o CBL received a call from complainant to see if the withdrawal was completed. On that day, CBL experienced telephone issues which resulted in long distance calls to be dropped. The issue was not resolved until the next day.
o CBL received a signed surrender request from the complainant.
On December 8, 2015, the withdrawal checks were mailed to the complainant
On December 11, 2015, CBL completed the surrender request and terminated the coverage. Surrender refund checks were sent out on December 16, 2015
CBL's offers a sincere apology for the delay of processing the withdrawal request and the inconvenience of the complainant due to our telephone issues.

We are unable to provide an adjustment for your billing statement.  The policy signed included policy specifications that state premiums increase at each renewal or your death benefit will be reduced in order to maintain the same coverage.  Please review attachment.

RE:  ID Number: [redacted]      CBL Policy # [redacted]This letter is in response to the complaint letter dated January 31, 2017.• On April 17, 2015, a licensed writing agent obtained information from the complainant to complete a life insurance and an annuity application with...

CBLife.  The life insurance application was for the purchase of a Modified Whole Life Insurance Policy (SBL) and the annuity application for the purchase of a separate Flexible Premium Deferred Annuity (FPDA) contract. .• In addition to completing the applications, a Presentation Summary was completed in which the complainant stated that she understood that:  o “I am applying for a Security Builder Life (SBL) plan, a modified whole life insurance policy.” o “ I have also applied for a separate Flexible Premium Deferred Annuity contract”  o “The premium paid for the SBL plan is non-refundable after the initial 30- day free look period.”    The first year and renewal year premiums for Life Insurance and Annuity contract were disclosed on the Presentation Summary.• These application and forms were submitted by the licensed agent to CBLife on April 20, 2015.• CBLife issued the Life Insurance policy effective May 8, 2015 with a premium amount of $100.00 biweekly.  CBLife also issued a FPDA Annuity contract with scheduled payments of $5.00 biweekly.  • The Life Insurance policy and the Annuity contract were mailed to the complainant’s address of record on April 30, 2015.   Both the policy and contract explained the features of each product and provided a thirty day right to examine which offered the complainant the right to return the policy or contract within 30 days and receive a full refund of premiums and/or deposits paid.  • CBLife did not receive any returned mail or a notification from the complainant requesting to cancel within 30 days.• On January 25, 2017, CBLife received call from the complainant requesting to decrease the contribution to the annuity contract and to cancel the life insurance coverage. A plan change form was mailed to the complainant to make the changes towards the annuity contract and a surrender form was mailed to cancel the life insurance coverage. • On February 7, 2017 CBLife received a signed request to cancel both the life insurance and the annuity contract.• The Life Insurance policy is active; a request to surrender and terminate the policy is in progress. • The Annuity contract is active; a request to surrender and terminate the contract is in progress.Since the request to cancel was not provided within the 30 day right to examine period, CBLife has determined that a full refund of premiums for the life insurance policy and the annuity contract are not due. CBLife issued the Life Insurance policy and the Annuity contract and has provided valuable coverage as outlined in the policy.

Dear [redacted],A partial refund has been granted and a check will go out in the mail shortly.  If you need further information regarding your compliant or have any questions, please contact the compliance department via email [email protected] or fax 303-220-8056.  Thank you

Complaint: [redacted]
I am rejecting this response because: the insurance is under  [redacted]
Sincerely,
[redacted]

Complaint: [redacted]
I am rejecting this response because:1.  Thank you for the update on the request for stop payments from my personal account.  I will be contacting my credit union on December 14th to inquiry the status of my stop payment.2.  A further update is hereby provided.In the previous message from CBLife it saids:  "The
policy for [redacted] II is still active as of today.  No surrender form has been received.  I have sent out a surrender form to the email
address listed on the application, [redacted]."  It was also mentioned previously that the surrender form was mailed. As of today, nor the email or the mentioned letter by CBLife were not delivered as indicated.As a matter of fact, I suggest CBLife submit the aforementioned surrender form via this medium (Revdex.com) as part of the mediation so that the document can appropriately completed and returned the same way.  In both occasions, CBLife claim they continue their questioned policy arguing the document has not being complete and returned.  I still request partial refund effective the day I had requested them to stop the policy in question since they never provided the documents necessary and required by them.  This will not be resolved as long as they fail to meet their requirement.
Sincerely,
[redacted]

[redacted],I am sorry to hear you had a difficult time reaching someone on the phone.  Our offices were closed due to the weather for the past 2 days.  We have received your surrender request, it was processed today and you should received it early next week.  Have a great...

weekend

Complaint: [redacted]
I am rejecting this response because: they said $75. was put in my account on 4/7/2017. the money is not there.  they now owe me the full amount of $890. or else I will go higher.
Sincerely,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Sincerely,
[redacted]

Please see the attachment regarding this complaint.  I hope this addressed any concerns about the accidental billing for [redacted] that occurred.  Our files show that [redacted] spoke with one of our customer service representatives today and is also in the process of surrendering her policy. ...

If you have any additional questions, please feel free to contact our compliance department at [email protected].   Thank you.

January 18, 2016Re:      Revdex.com Case # 11032551To whom it may concern: This letter is in response to the complaint letter received on December 29, 2015 regarding the above referenced case numberAfter review of the file, Colorado Bankers Life Insurance (CBL) provides the...

following: An online request for withdrawal was submitted to CBL on Friday, December 4, 2015.  The amount requested was deposited directly into the bank account of the customer no later than Wednesday December 9, 2015. Also, on December 4, 2015, CBL received an online request for an address change.  However, this change of address was not processed on the customer’s account timely.  CBL received a call on Friday, December 18, 2015 to request a second withdrawal be mailed out to UPS. On Tuesday, December 22, 2015, CBL customer service department sent out the check to the address on file – which was the incorrect address. On Thursday, December 24, 2015, CBL received a call from the customer stating that the check was not received. CBL determined that the address was not updated per the online request from December 4, 2015.  Therefore, a stop payment reissue request was submitted for processing.Due to the holidays the check was reissued on Tuesday, December 29, 2015 and the new check was sent out via UPS to the updated address on Wednesday, December 30, 2015.UPS tracking information indicates that the package was delivered on Thursday, December 31, 2015.The first withdrawal request, sent by direct deposit, was handled quickly without any issues.  However, the length of time for the customer to receive their second check, via UPS, was increased due the holiday season and the delay in updating the address of record.  CBL offers its most sincere apologies for any inconvenience caused by the delay in updating the address.

This letter is in response to the complaint letter filed with the Revdex.com received on July 13, 2016 regarding the above referenced policy.
After a review of Mr. [redacted]’s file, CBLife provides the following:
• On May 11, 2016, CBLife received an application for [redacted] through our online...

platform. The application was taken by a licensed a writing agent. The application was for our Timber Ridge Plan, a 10 year renewable and convertible term life insurance plan with a critical condition accelerated benefit rider.
• CBLife issued a policy for $43.66 monthly with an effective date of June 26, 2015.
• The life insurance policy and application (enclosed) was mailed to the address of record on July 16, 2015. The policy explained the features of the product and provided for a thirty day right to examine this provided the right to return the policy within 30 days and receive a full refund of premiums paid.
• CBLife did not receive notification of Mr. [redacted]’s request to cancel within 30 days.
• CBLife received a total of $349.28 in premiums from Mr. [redacted] from June 2015 through February 2016.
• Mr. [redacted]’s policy lapsed due to non- payment.
Since Mr. [redacted]’s request to cancel was not provided within the 30 day right to examine period, CBLife has determined that a full refund of premium is not due to you. CBLife issued a life insurance policy and has provided valuable coverage as outlined in the policy.
If you need further information regarding Mr. [redacted]’s complaint or have any questions, please contact the compliance department via email [redacted]@CBLife.com or fax [redacted].

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Sincerely,
[redacted]