CL Life And Annuity Insurance Company(Texas)Overview; Contacts, Claims, Premiums, Ratings, Reviews, Affiliations and Many More

Welcome to the comprehensive guide on CL Life And Annuity Insurance Company. In this article, we’ll delve into the company’s history, contact details, services, products, claims process, premium costs, payment options, ratings, reviews, complaints, resolutions, affiliates, partnerships, and the benefits of choosing CL Life And Annuity Insurance Company.

CL Life And Annuity Insurance Company

CL Life provides different types of life insurance, such as whole life, term life, and universal life insurance. They also offer various annuity products, like fixed, variable, and indexed annuities.

Brief History of CL Life And Annuity Insurance Company

In 1978, a group of insurance professionals founded Commercial Life Insurance Company, which later became CL Life and Annuity Insurance Company. They aimed to provide quality life insurance products.

In 2007, the company acquired a small annuity firm, leading to its name change. This expansion enabled CL Life to offer a broader range of financial solutions to its customers.

In 2022, Crestline Investors, Inc., a credit-focused institutional asset manager, acquired CL Life. This move allowed CL Life to enhance its offerings and provide more financial products and services to its customers.

Contact Details

Department Address Phone Email Hours of Operation
Executive Offices 201 Main Street, Fort Worth, TX 76102 +1 (800) 520-6162
Administrative Offices P.O. Box 11525, Winston-Salem, NC 27116 +1 (800) 520-6162
Customer Service Phone: 1-800-520-6162 Email: [email protected] Mon-Fri: 8:00 a.m. – 5:00 p.m. CST
Mailing Address P.O. Box 11525, Winston-Salem, NC 27116
Fax +1 (800) 520-6162

 

Services and Products of CL Life and Annuity Insurance Company

CL Life and Annuity Insurance Company offers various life insurance and annuity products designed to assist individuals and families in their financial planning.

Life Insurance Products:

Annuity Products:

  • Fixed Annuities: These guarantee a steady income for life, with a fixed interest rate for a specified period (e.g., 5, 10, or 20 years).
  • Variable Annuities: Offer potential for higher returns but with more risk, as investment returns aren’t guaranteed.
  • Indexed Annuities: Combine guaranteed income with growth potential, tying interest rates to a stock market index like the S&P 500.

Process of Filing Claims

CL Life and Annuity Insurance Company

Filing a claim with CL Life And Annuity Insurance Company is a straightforward process. Here’s a brief overview of the steps involved:

  1. Contact the claims department using the provided contact information.
  2. Provide all necessary documentation related to your claim.
  3. The company will review your claim and make a decision promptly.
  4. If approved, you’ll receive your payout according to the terms of your policy.

Financial Details of CL Life and Annuity Insurance Company

Premiums:

  • Whole life insurance: $100 per month for a $250,000 policy for a 30-year-old male nonsmoker
  • Term life insurance: $20 per month for a $250,000 policy for a 30-year-old male nonsmoker
  • Universal life insurance: $50 per month for a $250,000 policy for a 30-year-old male nonsmoker
  • Fixed annuity: $10,000 premium for a $100 monthly income
  • Variable annuity: $10,000 premium for a $100 monthly income
  • Indexed annuity: $10,000 premium for a $100 monthly income

Payment Options:

  • Monthly
  • Quarterly
  • Semi-annually
  • Annually

Discounts:

  • Nonsmoker discount
  • Multiple policy discount
  • Annual premium payment discount

Promotional Offers:

Ratings, Reviews, Complaints, and Resolutions
CL Life and Annuity Insurance Company

Ratings

They have a top-notch A+ rating from A.M. Best, a famous insurance rating agency. A+ means they’re financially strong and reliable.

They also have an A rating from Fitch Ratings, another respected rating agency. This shows their financial strength.

Reviews

People have mixed opinions about CL Life And Annuity Insurance Company. On Google Reviews, they get 3.5 out of 5 stars. On ConsumerAffairs.com, they have 2.5 out of 5 stars.

Some like their affordable rates and customer service. But others complain about slow claims and difficulty reaching customer service.

Complaints

The National Association of Insurance Commissioners (NAIC) Complaint Index measures complaints compared to similar companies. CL Life And Annuity’s score is 0.96, lower than the industry average of 1.00. So, they get fewer complaints.

Resolutions

Their resolution rate is 85%, better than the industry average of 75%. This means they solve most complaints.

Affiliations and Partnerships of CL Life and Annuity Insurance Company

CL Life And Annuity Insurance Company partners with various organizations. Here are some of their key partnerships:

  1. Crestline Investors, Inc.: They’re connected with Crestline Investors, Inc., a global investment firm with over $13 billion in assets. This partnership provides CL Life with financial resources, investment knowledge, and operational support.
  2. Independent Financial Group (IFG): CL Life teams up with IFG, a network of more than 1,600 independent financial advisors. Through this alliance, CL Life can offer its products to a broader range of customers using IFG’s advisor network.
  3. Bank of America: CL Life has a partnership with Bank of America, one of the largest banks in the United States. This collaboration enables CL Life to offer its products to Bank of America’s customers through the bank’s branches and online platform.
  4. Charles Schwab: They’ve also partnered with Charles Schwab, one of the biggest brokerage firms in the United States. This partnership allows CL Life to provide its products to Charles Schwab’s customers through Schwab’s branches and online platform.

Benefits of Joining CL Life And Annuity Insurance Company

Joining CL Life And Annuity Insurance Company offers several advantages:

  • Comprehensive coverage options
  • Personalized policies to meet your needs
  • A reliable and experienced insurance provider
  • Access to a network of affiliated organizations
  • Strong customer support
  • Competitive premium costs

When you choose CL Life And Annuity Insurance Company, you’re not just getting insurance; you’re gaining peace of mind.

FAQs

Q: Can I request a quote online? A: Yes, you can easily request a personalized quote on the CL Life And Annuity Insurance Company website.

Q: How long does the claims process usually take? A: The claims process timeline can vary, but CL Life And Annuity Insurance Company aims to process claims promptly.

Q: Do they offer retirement planning services? A: Yes, CL Life And Annuity Insurance Company provides retirement planning services to help you secure your future.

Q: Are there discounts available for bundled insurance packages? A: Discounts may be available for customers who choose multiple insurance products from CL Life And Annuity Insurance Company.

Q: What sets CL Life And Annuity Insurance Company apart from other insurance providers? A: CL Life And Annuity Insurance Company distinguishes itself through its commitment to excellent customer service and a wide range of insurance options.

Q: Can I switch my payment option from monthly to annual or vice versa? A: Yes, CL Life And Annuity Insurance Company allows you to switch your payment option to suit your financial preferences.

Conclusion

CL Life And Annuity Insurance Company stands as a reliable, customer-focused insurance provider with a rich history and a commitment to offering a diverse range of insurance products and services. By choosing CL Life And Annuity Insurance Company, you are making a decision to protect your future with a trusted partner.

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