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Colorado Bankers Life

Colorado Bankers Life Insurance Company has been meeting customer’s insurance needs for over 40 years. The company offers voluntary benefit programs through payroll deductions with US-based companies. Colorado Bankers Life offers a whole life insurance product called the Preferred Golden Protector plan that is designed for final expense and burial insurance needs. The company doesn’t publicize its death benefits or average premium rates. You can obtain this information by contacting an agent using the information at the end of this document.

How much does a burial insurance policy cost?

Burial or final expense insurance costs can vary based on a number of factors. These factors include your sex, your age, your location, your health, your health history, and the type of policy you desire. If you have heart disease (or a history of it in your family), you’re a smoker, or you’re an alcoholic, you will pay higher insurance premiums if you are able to secure a burial insurance policy. If you don’t have any of these issues, or if you are toward the younger end of the burial insurance age demographic, you will likely obtain much lower premiums. Most insurance companies don’t offer burial insurance to those over age 85. If you are close to age 85 at the time you apply, you may be able to obtain insurance but your premiums will be high.

How long does a burial insurance policy last?

Burial insurance policies last until the death of the policyholder. After the policyholder’s death, the beneficiary receives a cash payout for the amount of the policy, provided that all policy terms have been met. Burial insurance policies don’t expire. They may only be cancelled in the event of fraud on the part of the issuing insurance company or by the policyholder refusing to pay premiums.

How to get started

If you are already a Colorado Bankers Life insurance customer, you should contact your local office and inquire about a final expense policy. If you are a prospective customer, you can obtain a quote and start the application process by calling the company using the information below. You may also shop for policies using our comparison tool by clicking on the following link.

Financial Strength Ratings

AM Best – B++, Stable outlook
Moody’s – Not rated
Standard & Poor – Not rated

Company contact info

Colorado Bankers Life Insurance Company
5990 Greenwood Plaza Blvd, Suite 325
Greenwood Village, CO 80111
(800) 367-7814