Our conservative approach to investing in highly-rated securities while maintaining robust levels of capitalization is a key underlying principle in our ability to offer industry-leading annuity products. What types of debts or other expenses need to be paid when I pass away? To determine which type of life insurance is best for you, talk to your Bankers Life insurance agent, who will listen to your concerns, understand your needs and recommend the right solution for you. Minimum Premium $50,000 qualified or non-qualified, Monthly Interest Option Available after 30 days. Our underwriters will review your medical history to determine if your application is acceptable, and to identify your risk classification. Our goal is to provide excellent service to every policyholder and make your life easier when it comes to your claims. Annuitization Available after 12 months for five years or longer. Protect your business with smart coverage. Withdrawal Privileges 10% FREE withdrawals. This is a Life insurance solicitation. The group controlled Bankers Life Insurance Co., Colorado Bankers Life Insurance Co. and Southland National Insurance Corp. A North Carolina state court put the companies in rehabilitation in June 2019. As a bonus, life insurance proceeds are not subject to federal income taxes in most instances. The company was established in 1879 in Chicago, Illinois. Start this important journey wisely, by choosing a tax-deferred, interest-bearing investment with a 5-year guaranteed rate, outstanding death benefits and no front-end loads or policy fees. Annuity form not available in all states. A covered condition is defined as confinement in a Residential Care Facility or Skilled Nursing Facility for at least 90 consecutive days. Suitability Form Required with all cases at the time of application. Customer service remains at the forefront of our business strategy. Average Bankers Life hourly pay ranges from approximately $10.46 per hour for Recruiting Specialist to $27.57 per hour for Insurance Agent. On June 27, 2019, Colorado Bankers Life Insurance Company consented to an Order of Rehabilitation entered by the Superior … Read More See all additional business information Box 1902 Carmel, IN 46082-1902 : Fax: 312.396.5952 Life policies are underwritten by Bankers Life and Casualty Company (Chicago, IL), Colonial Penn Life Insurance Company (Philadelphia, PA) and in New York, Bankers Conseco Life Insurance Company (Jericho, NY). The sky is the limit when you join the Bankers Team. Whether taking off for a long weekend or looking farther down the road to a comfortable retirement, you start by answering a simple question: What do I do now to take me where I want to be later? The cash can then be used however you’d like–add to your retirement income, pay off debts, or cover emergency expenses. Life insurance can help protect your family’s future by providing funds to pay off debts and final expenses, replace lost income, and transfer wealth. With term life, whole life and universal life packages, Bankers Life offers something for every coverage need and budget. How much do I have set aside for savings? Bankers Life is the marketing brand of Bankers Life and Casualty Company, Medicare Supplement insurance policies sold by Colonial Penn Life Insurance Company and select policies sold in New York by Bankers Conseco Life Insurance Company (BCLIC). Annuitization Available after 12 months for five years or longer. Please feel free to contact us directly with any questions. Bankers Life is one of the oldest and most well-known insurance companies in the United States. Bankers Life is accredited by the Better Business Bureau with an A rating as of April 2017, in addition to receiving an A- (Excellent) rating by A.M. Best Company for … This content reflects our understanding of tax rules and regulations in effect at the time of publication. Southland National Insurance Corporation 1-833-452-4240 Bankers Life Insurance Company 1-800-839-2731 . Administrative office: Chicago, Illinois. Our policies vary by state We do our best to determine where you are located so we can show you accurate information. For information and educational purposes only. Since joining the Global Bankers Insurance Group’s international family of companies in 2016, our focus has been on expanding our markets, developing new products to meet the changing needs of our customers, sharpening customer service, and sustaining our strong sales momentum in deferred and immediate annuities. This annuity has limitations that may not be described here. Any withdrawal requested in excess of that allowed under one of the penalty-free withdrawal options is subject to the following withdrawal charges, which can vary slightly by state*. Premiums may vary based on the type of life insurance plan chosen (i.e. Provide your clients with the ability to customize payments according to their income needs. Policy form series (subject to state availability): L-19E, L-20F, L-5Z1, L-29K/ICC17-L-19K, L-100(17)/ICC16-L-100(17), L-14Y/ICC17-L-14Y. 1) Being unable to perform two or more of these six activities of daily living: bathing, continence, dressing, eating, toileting and transferring for at least 90 days; or, 2) Having a severe cognitive impairment, such as Alzheimer's disease or dementia. For costs and complete details of the annuity, contact Bankers Life Insurance Company. Your premium amount will be determined in part by the amount of insurance coverage you request, your age, gender and risk classification. If someone depends on you financially, you likely need life insurance. Administrative office: Chicago, Illinois. You can access your cash value in the future for any purpose. Income can be guaranteed either for the lifetime of your client or for a fixed period. We focus on helping you improve upon your financial security, particularly as you enter and navigate retirement. Funds will normally be available the following business day on which payments are due, Proposals Payout quotes are guaranteed for 10 days with 30 days thereafter on transfers, Benefit Options Lifetime Income (ages 75 and below) | Life Income with Period Certain (5, 7, 10, 15, or 20 years) | Income for a Fixed Period (5-20 years) | Joint Life Income (100% or 66 2/3% to the survivor), Commuted Settlement Should immediate liquidity of remaining cash value be desired by the owner or a lump sum death benefit be desired by the beneficiary(ies), Bankers Life Insurance Company is willing to process a commuted settlement, Effective Dates The contract will be effective on the date the single premium is received at Bankers Life Insurance Company. Access any or all of your funds for any reason. These products and its features are subject to state availability and may vary by state. Life insurance offers a way to provide for your loved ones. Annuitization Available after 12 months for ten years or longer. These payments will not fluctuate with market conditions. The money can be used by heirs to replace income, pay off debts, or leave a legacy. Forward. Lindberg now serves as the founder of Global Growth, a Durham, North Carolina-based health care technology company. Phone calls to our offices are quickly answered and more than 95% of the new business received by our Home Office is processed within 24 hours of receipt. Suitablility Form Required with all cases at the time of application. Taxes must be paid on deferred earnings when accessed. Bankers Insurance offers a variety of property and casualty products and services. When opportunities arise, take them. Our SPIA lets you customize how often and how much your payments are. Withdrawal Charges If a Policy Owner 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. The company offers a full line of life insurance and annuity products to help customers plan their financial futures. Plus the high renewal rate after initial guaranty. (RMD distributions are included in the 10% free withdrawal amount.) Begin your investment journey by choosing the right direction. Ideal For Tax-Qualified Rollover Plans For example, IRA, SEP. 403(b), etc. The coverage lasts only as long as the policy stipulates. Yes. OneTrust. 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. Our Risk Based Capital (RBC)*** score —used by state regulators to determine whether an insurance company has enough capital to support the policies it has issued — was a computed value of 458%. With a history dating back to 1879, there are some things that never change. For further questions contact the appropriate Company as follows: Colorado Bankers Life Insurance Company 1-800-367-7814 . A covered condition is defined as confinement in a Residential Care Facility or Skilled Nursing Facility for at least 90 consecutive days. Policy Owners may withdraw up to 10% of the accumulated contract value each year after the first year, without a withdrwal charge. Careers at Bankers Life BCLIC is authorized to sell insurance in New York. Our knowledgeable insurance agents/producers sit down with you in your home to understand your preferences and goals. Bankers Life’s permanent life insurance policies offer living benefits, which build cash value that you can access through loans and withdrawals. The company writes both personal and commercial coverage, including homeowners, flood, excess flood, business owners, and specialized products. Insurers and their representatives are not permitted by law to offer tax or legal advice. No MVA Withdrawal charges are waived in the event of the annuitant’s death. 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. In the past year, Bankers Life Insurance Company embraced change and, in doing so, made tremendous progress as an organization. We use cookies to improve content, analyze traffic, and provide a better experience for our visitors. The money can be used by heirs to replace income, pay off debts, leave a legacy, etc. Here you will find information about our company, contact information, and access to forms and financial calculators. We know how hard producers work, and we provide the support and incentive you need to achieve your goals. Additional Illinois State resident information, Additional New York State resident information, Additional Oregon State resident information, Additional New Mexico State resident information, Additional California State resident information, Confidential insurance communication request form. We realize this could be a difficult time and we would like to work with affected policy owners to help answer any questions or concerns they may have about their insurance coverage. Bankers Life Insurance Company Single Premium Immediate Annuity is an excellent choice for guaranteed income. How much income does my family need if I died today? An insurance agent/producer may contact you. Additional Illinois State resident information Additional New York State resident information Additional Oregon State resident information Additional New Mexico State resident information Additional California State resident information Confidential insurance communication request form. But the three types can differ in terms of coverage length, premium flexibility, cash value accumulation and distribution, and other factors. *** RBC formula and calculation is effective June 2018 and is subject to periodical updates. The contract must be in force for at least 90 days to be covered. Guaranteed cash value accumulates over time and can be borrowed against. At Bankers Life, that means taking a personalized approach to help protect the individuals and families we serve. Income can be guaranteed either for the lifetime of your client or for a fixed period. Please contact us Monday through Friday at (800) 523-9100 between 8:30 a.m. and 5:30 p.m. EST. Whole life insurance comes with guaranteed cash value, which accumulates over time and can be borrowed against. The general and educational information here supports the sales, marketing or service of insurance policies. Bankers Life Locations in United States | Providing Life Insurance, Medicare Supplement, and Long-term Care Insurance, and Annuities Bankers Life 262 Locations in the United States Alabama (3) Arizona (4) Policyowners may withdraw up to 10% of the accumulated contract value each year after the first year, without a withdrawal charge. ¹ What is “permanently chronically ill”? Access a helpful guide designed to assist families as they prepare and plan for the loss of a loved one. You work hard. Universal life insurance is another permanent form of life insurance. You may need a medical exam. Interest Rate Lock Qualifies for interest rate lock for 45 days on incoming transfers from other financial institutions. 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