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Home > Health Insurance > Life Insurance > Colorado Bankers Life
Colorado Bankers Life
Colorado Bankers Life was founded in 1974; CBL has worked with thousands of American business owners to offer reliable payroll deduction programs that give employees a convenient and affordable way to protect themselves and their families without cost or obligation to their employers. Voluntary insurance benefit programs have been, and continue to be, Colorado Bankers Life's specialty. With a unique understanding of the costs and complexities associated with employee benefit programs, CBL succeeds in simplifying the process for both the employer and the employee.
Colorado Bankers Life and Fort Dearborn Life Insurance Company, located in Illinois, are life insurance subsidiaries of Health Care Service Corporation, a Mutual Legal Reserve Company. HCSC is one of the largest non-investor owned healthcare providers in the United States. Together, Colorado Bankers Life and Fort Dearborn Life form the Preferred Financial Group, which ranks as the 14th largest carrier based on Group Life In-Force and as the 17th largest carrier based on Group Life Premiums.
Colorado Bankers Life Insurance Company is one of the nation's most committed providers of life insurance and financial products. CBL specializes in voluntary benefits through Payroll Deduction, Federal and Military Allotments, State and Local Government payroll systems and individual bank draft billing. CBL is a direct subsidiary of Preferred Financial Corporation. PFC also owns Industry Savings Plans, Inc., a NASD registered broker or dealer. Together, CBL and ISP nationally market and service life and disability insurance, retirement annuities and mutual fund products.
CBL distributes their products through two main distribution channels. The primary segment is made up of a network of Worksite Marketing and Government Allotment Producers that specialize in the installation of voluntary benefit products at the workplace. While the second segment, is made up of a National Brokerage network of individual life/health agents that specialize in individual sales. CBL is licensed in 48 states and the District of Columbia.
Total benefits will not exceed the policy Face Amount. A partial benefit as described in the policy will reduce the Face Amount of the policy by the amount paid and will reduce future benefits. Premiums will be adjusted to reflect the reduction.
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