Colorado Bankers (CB Life)...

[Phyllis Christos]

Great news!!
We got our check yesterday!

We have been made whole....finally....
This nightmare is OVER!!
The whole 400 initial investment plus all the interest... for 5 years...
at 3.6%....

Last year we had to pay taxes on all that interest....which was another mini nightmare on its own....but that's behind us now!

Thank God the Massachusetts Guaranty Association voted to cover excess policy holders....
My last parting words to anyone on this website is:
CALL YOUR STATE GUARANTY ASSOCIATION AND DON'T BOTHER CALLING ANYONE ELSE!!

Annuities never again....
Good bye!

 

[jdeasy]

Great news!!
We got our check yesterday!

We have been made whole....finally....
This nightmare is OVER!!
The whole 400 initial investment plus all the interest... for 5 years...
at 3.6%....

Last year we had to pay taxes on all that interest....which was another mini nightmare on its own....but that's behind us now!

Thank God the Massachusetts Guaranty Association voted to cover excess policy holders....
My last parting words to anyone on this website is:
CALL YOUR STATE GUARANTY ASSOCIATION AND DON'T BOTHER CALLING ANYONE ELSE!!

Annuities never again....
Good bye!

Congratulations !!

I know it's been a long time coming.

 

[DonP]

Great news!!
We got our check yesterday!

We have been made whole....finally....
This nightmare is OVER!!
The whole 400 initial investment plus all the interest... for 5 years...
at 3.6%....

Last year we had to pay taxes on all that interest....which was another mini nightmare on its own....but that's behind us now!

Thank God the Massachusetts Guaranty Association voted to cover excess policy holders....
My last parting words to anyone on this website is:
CALL YOUR STATE GUARANTY ASSOCIATION AND DON'T BOTHER CALLING ANYONE ELSE!!

Annuities never again....
Good bye!

So it seems they paid you interest above the guaranteed rate . I had around 14 cd's the last few yrs . The carriers that made it cumbersome to get my money at maturity i no longer use . For money markets or cd's i highly recommend the vanguards ,Fidelity ,Schwab . For cd's Nobody touches Marcus by Goldman Sachs . Money moves take 24 hrs to your bank account .

 

[Rover23232]

Phyllis, you mentioned that "last year we had to pay taxes on all that interest"...for an outsider who is just following this ordeal can you explain why/how? If you just received your check this year '25 I'm just curious why you had to pay taxes in '24?

 

[Dan T]

CBL portal shows my check was cut yesterday for 300K
and yesterday I got the 1099 for the 1% interest
That doesn't make me whole, they still got 60K
State guarantee tells me they are bound by law what they pay period

 

[DonP]

CBL portal shows my check was cut yesterday for 300K
and yesterday I got the 1099 for the 1% interest
That doesn't make me whole, they still got 60K
State guarantee tells me they bound by law what they pay period

So what total principal did you put in this and what yr ?

 

[Dan T]

417,000 2018 at 3.6%

 

[DonP]

417,000 2018 at 3.6%

So $300 k total is all you'll get including interest ?

 

[Dan T]

i got 25% also….. so im out the interest for 7 years

 

[Newby]

So $300 k total is all you'll get including interest ?

His state probably caps at $300,000 and they didn't pay any extra. It's all state by state.