Colorado Bankers (CB Life)...

[ACDC]

This is an excerpt from the October Quartely Rehabilitator’s Report. How does everyone understand the highlighted part?

“
Benefits paid by CBL prior to its being placed in liquidation do not count against the Guaranty Association's statutory coverage limits but will be applied in determining the remaining benefits available under
the policy.”

Money taken out do not count against the state coverage limit but it will be deducted from policy’s balance.

 

[Allen Trent]

“
Benefits paid by CBL prior to its being placed in liquidation do not count against the Guaranty Association's statutory coverage limits but will be applied in determining the remaining benefits available under
the policy.”

Money taken out do not count against the state coverage limit but it will be deducted from policy’s balance.

But wasn't CBL placed in liquidation in 2022? So, does this mean prior distributions by policyholders before then won't be subtracted by Guaranty Assoc, but distributions since , including 25% in 2023, will be deducted from Guaranty Assoc calculation?

 

[Dan T]

 

[ACDC]

The liquidation order is in the process of an appeal, until the appeal is settled, CBL life is still in rehab, not liquidation.

 

[Dan T]

Maybe they can’t figure interest…today they paid $ 150. on 470 K. @ 1% shd little more

 

[Phyllis Christos]

Yup…both my interest payments since the 25% disbursement have been wrong.
October they shorted me 80 bucks…today they shorted me 95 bucks…
We’re moving in the WRONG direction!
Can’t even get the lousy 1% interest amounts…
Infuriating — since we should all be earning 5% each month!!

 

[Dan T]

Don’t bother calling Kroll for anything they are just an answering service they don’t have any records about 25% withdrawal or the interest withdraw. Wait on hold 20 minutes for Jody .She has the numbers at CBL 833-658-2841.

 

[Dan T]

One of the three co-conspirators fined $75,000 the other pardoned by trump

 

[ACDC]

This is good news, Herqig will help the government build a stronger case against Lindberg.

 

[ccwpc]

For those that elected to withdraw their accumulated interest up to November 2022, did you receive your payment for this month (November)? I have not received mine yet. So my question is did accepting the 25% distribution effectively end those monthly payments? This whole thing is such a shitshow.