Colorado Bankers Life

Colorado Bankers Life was founded in 1974 and joined the Global Bankers Insurance Group in 2015. In 2019, it was placed into rehabilitation and is not currently selling products. Policyholders can follow the status of the company, explore previously offered products and find contact information relating to their policies.

  • Written By
    Jennifer Schell

    Jennifer Schell

    Financial Writer

    Jennifer Schell is a professional writer focused on demystifying annuities and other financial topics including banking, financial advising and insurance. She is proud to be a member of the National Association for Fixed Annuities (NAFA) as well as the National Association of Insurance and Financial Advisors (NAIFA).

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  • Edited By
    Savannah Pittle
    Savannah Pittle, senior financial editor for

    Savannah Pittle

    Senior Financial Editor

    Savannah Pittle is an accomplished writer, editor and content marketer. She joined as a financial editor in 2021 and uses her passion for educating readers on complex topics to guide visitors toward the path of financial literacy.

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  • Reviewed By
    Timothy Li, MBA
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    Timothy Li, MBA

    Business Finance Manager

    Timothy Li, MBA, has dedicated his career to increasing profitability for his clients, including Fortune 500 companies. Timothy currently serves as a business finance manager where he researches ways to increase profitability within the supply chain, logistics and sales departments.

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  • Updated: July 2, 2023
  • 3 min read time
  • This page features 7 Cited Research Articles
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Our Partnerships, Vision and Goals

We pride ourselves on partnering with professionals like those from Senior Market Sales (SMS) — a market leader with over 30 years of experience in the insurance industry — who offer personalized retirement solutions for consumers across the country. Our relationships with partners including SMS and Insuractive, the company’s consumer-facing branch, allow us to facilitate the sale of annuities and other retirement-oriented financial products to consumers who are looking to purchase safe and reliable solutions to fill gaps in their retirement income. We are compensated when we produce legitimate inquiries, and that compensation helps make an even stronger resource for our audience. We may also, at times, sell lead data to partners in our network in order to best connect consumers to the information they request. Readers are in no way obligated to use our partners’ services to access the free resources on carefully selects partners who share a common goal of educating consumers and helping them select the most appropriate product for their unique financial and lifestyle goals. Our network of advisors will never recommend products that are not right for the consumer, nor will Additionally, operates independently of its partners and has complete editorial control over the information we publish.

Our vision is to provide users with the highest quality information possible about their financial options and empower them to make informed decisions based on their unique needs.

About Colorado Bankers Life

Colorado Bankers Life Insurance Company (sometimes shortened to CBLife) was founded in 1974. They specialize in life insurance and annuity products.

In 2015, Colorado Bankers Life joined Global Bankers Insurance Group, an international family of insurance and reinsurance companies focused on retirement, annuities and life insurance.

In April 2019, ultimate controlling shareholder Greg Lindberg was indicted in a federal investigation related to charges of wire fraud. On June 27, 2019, Colorado Bankers Life and other companies under the Global Bankers Insurance Group umbrella were placed into rehabilitation by the Superior Court of Wake County, North Carolina.

On March 5, 2020, Lindberg and an associate were convicted of wire fraud, public corruption and bribery charges.

In the fourth quarter of 2021, Actuarial Management Resources began servicing the company’s business. Colorado Bankers Life remains in rehabilitation and is not selling products. The North Carolina Commissioner of Insurance has been appointed as the rehabilitator for Colorado Bankers Life.

Continuous updates can be found on the Colorado Bankers Life main page.

Credit Ratings

Credit ratings are issued by independent credit rating agencies. These ratings, also called financial strength ratings, relate the financial stability of the company to the consumer.

Research the ratings of the company you’re considering for an annuity before you make a purchase. The higher the rating, the more likely an insurance company can uphold its end of an annuity contract.

Following regulatory action against Colorado Bankers Life, AM Best changed its rating of the company from a B++ to a non-rating designation of E (Under Regulatory Supervision). This rating has remained in place since 2019.

Colorado Bankers Life Rating

Credit Agency Ratings
AM Best E (Under Regulatory Supervision)
Source: AM Best

Annuity Products Offered

Colorado Bankers Life is currently in rehabilitation and is not offering products for purchase. In the past, as an annuity provider, Colorado Bankers Life offered several types of Multi-Year Guaranteed Annuities. These included a tax-deferred, interest-bearing annuity contract and multi-year guaranteed rates with death benefits and no front-end loads or policy fees.

Multi-Year Guaranteed Annuities

Multi-year guaranteed annuities (MYGA) are a type of fixed annuity offering a guaranteed fixed interest rate for a defined period of time (usually between three and 10 years).

A MYGA is appropriate for someone who is closer to retirement and prefers tax deferral and a guarantee of investment return.

Because they are fixed-rate annuities, MYGAs are not subject to market volatility and therefore offer a potentially safer way to grow your money. Many providers extend provisions that allow partial withdrawals yearly without a penalty. You can also defer any taxes on MYGAs until money is taken out.

Colorado Bankers Life former MYGA products:

  • CBLA-3: Guaranteed for three years
  • CBLA-5: Guaranteed for five years
  • CBLA-7: Guaranteed for seven years
Annuity rates on a phone

Purchase an Annuity Today

Learn how an investment today can provide guaranteed income for life.

Client Resources

Customers of Colorado Bankers Life can log in to their accounts online through the company’s web portal.

Policyowners who face financial hardships due to the court-ordered moratorium on cash surrenders and partial withdrawals from Colorado Bankers Life Insurance may be eligible to make a hardship payment request.

Policyholders can also check the status of Colorado Bankers Life Insurance through the rehabilitator’s Quarterly Reports.

Contact Information for Colorado Bankers Life

If you are a policyholder, you can contact Colorado Bankers Life at 1-833-658-2841.

Please seek the advice of a qualified professional before making financial decisions.
Last Modified: July 2, 2023