I can tell you my experience with the interest only withdrawals.
I filled out the form on the kroll site on March 8, but could not find the attestation form for Nevada residents, so I made one up and attached a pdf, it was accepted.
On March 14 the ACH hit my account, and it was computed correctly 4 months+8days, I think because CBLife told Kroll how much to send. CBLife has reduced my daily value by the amount of the payment.
I called Kroll to find how much the April payment will be, they told me they don't know. I said I was surprised to get the payment on March 14 so promptly, not the 30 day wait.
The Kroll person said in amazement thae "you got a payment"?, as they cannot look this up on their system.
I called CBLife and was informed that once the initial term is up the interest credit rate will be the policy minimum rate. So the Kroll letter amount was correct for me, my 3.6% rate ends on April 3, so my new rate will be 1%, but I won't get that amount in the first 12 months.
After speaking to 3 different people at Kroll 1)they have no information on any question I asked them, 2)was told a supervisor would call me with the answers I need, never happened, and 3)I'd guess its going to be a a long time until they fix the web site for applying, maybe not as long as the 3 more years I estimate until CBLife is liquidated, but a while. I'm not holding my breath for the April payment.
I filled out the form on the kroll site on March 8, but could not find the attestation form for Nevada residents, so I made one up and attached a pdf, it was accepted.
On March 14 the ACH hit my account, and it was computed correctly 4 months+8days, I think because CBLife told Kroll how much to send. CBLife has reduced my daily value by the amount of the payment.
I called Kroll to find how much the April payment will be, they told me they don't know. I said I was surprised to get the payment on March 14 so promptly, not the 30 day wait.
The Kroll person said in amazement thae "you got a payment"?, as they cannot look this up on their system.
I called CBLife and was informed that once the initial term is up the interest credit rate will be the policy minimum rate. So the Kroll letter amount was correct for me, my 3.6% rate ends on April 3, so my new rate will be 1%, but I won't get that amount in the first 12 months.
After speaking to 3 different people at Kroll 1)they have no information on any question I asked them, 2)was told a supervisor would call me with the answers I need, never happened, and 3)I'd guess its going to be a a long time until they fix the web site for applying, maybe not as long as the 3 more years I estimate until CBLife is liquidated, but a while. I'm not holding my breath for the April payment.
