Eterna Policy Help Desk
Help with your life insurance policy.
Answers about billing, beneficiaries, price changes, and coverage options.
Monday to Friday, 9am to 9pm ET. No cost, no obligation.
What to handle with Bankers Life · Other insurance companies
Talk it through
Speak with a licensed agent.
- No cost
- You didn't need to buy from us
- Your info is never sold
Eterna is an independent agency, not Bankers Life. Payments and claims go to Bankers Life.
Your Bankers Life policy
Know who handles what.
Bankers Life focuses on retirement-age customers with life insurance and supplemental products sold by captive agents. When an agent moves on, policyholders often want an independent point of contact to review their life coverage.
Sold by the company's own agents, so when an agent moves on, many owners want a new point of contact.
Your paperwork may say
- Bankers Life and Casualty Company
Ask us about
- Price increases
- Beneficiary changes
- Comparing options
Why people call
Common reasons people call about a Bankers Life policy.
Billing and payments
A missed draft after changing banks, an unfamiliar charge, or checking that an older policy is still being paid.
Beneficiary changes
Adding a spouse or child, removing an ex-spouse, naming a contingent beneficiary, or fixing one that was never recorded.
Finding a lost policy
A parent or grandparent mentioned a Bankers Life policy years ago, and you need to know if it still exists and what it's worth.
Cash value and loans
How much cash value has built up, borrowing against it, or a statement of value for Medicaid or other benefit applications.
Price increases
A term policy reaching the end of its level period, or an older policy that suddenly needs bigger payments to stay in force.
Coverage that no longer fits
A premium that got expensive, or coverage that needs resizing or replacing with a policy that fits better.
Before you call
What to have ready.
- Your policy number, if you have it. Statements, the policy booklet, or bank records showing the premium draft all help.
- The insured person's full legal name and date of birth.
- A recent statement or premium notice, if your question is about billing or value.
Don't have any of these? Policies can usually be located with the insured's name, date of birth, and Social Security number.
How it works
A free review in three steps.
- Call (888) 579-7090.Talk with a licensed agent, Monday to Friday, 9am to 9pm ET.
- Walk through the policy together.What it covers, what it costs, what the cash value is doing, and whether the beneficiaries are right.
- Get your options in plain English.Keep it as it is, adjust it, or look at alternatives. No cost, no obligation.
Your policy, explained
Know what you're paying for.
Choose your policy type to see what to watch for.
Coverage for a set number of years at a level price.
- The price can rise sharply after the level period ends.
- The conversion deadline is often before the term ends.
- No cash value, so nothing is paid back if it ends.
Lifetime coverage with a level price and cash value.
- Costs more per $1,000 than term for the same amount.
- Loans reduce the death benefit if not repaid.
- Surrender charges can apply in the early years.
Flexible lifetime coverage. Cash value earns interest, sometimes tied to an index.
- Internal costs rise as you age.
- If it's underfunded, it can lapse even if you keep paying.
- Your annual statement shows if it's on track.
A smaller whole life policy for funeral costs, with few health questions.
- Some pay a reduced benefit in the first two or three years.
- Over time, premiums paid can exceed the coverage amount.
- If your health is good, other options may cost less.
Not sure which type you have? The plan name is on your policy data page, or call us and we'll read it with you.
What does your coverage cost?
See your price per $1,000 of coverage and what you've paid so far.
Enter your coverage and premium from your policy or a recent statement.
- Coverage amount
- Listed as "face amount" on your policy data page
- Premium
- On a recent statement or your bank draft
- Years
- Count from the policy date
Before you let it go
Is your Bankers Life premium too expensive?
Giving up coverage is permanent. If your health has changed since you bought it, replacing it later can cost far more or be impossible. Check these options first.
Reduced paid-up coverage
Many permanent policies let you stop paying and keep a smaller death benefit for life.
Policy loans or withdrawals
Cash value can sometimes cover premiums or free up money without ending the coverage.
A lower coverage amount
Lowering the face amount lowers the premium and keeps the policy in force.
A 1035 exchange
Cash value can often move to a policy or annuity that fits better, without current tax.
An independent agent can run these numbers for your policy at no cost. Call (888) 579-7090
Common questions
Questions about a Bankers Life policy.
Checking and changing it
How do I find out if a Bankers Life policy is still active?
Gather what you have: a policy number, old statements, or bank records showing premium drafts. Have the insured person's full name and date of birth ready. Bankers Life can confirm an in-force policy for an owner or beneficiary.
Next step: Call us and we'll walk you through the lookup and what to ask for, at no cost.
How do I change the beneficiary on a Bankers Life policy?
Beneficiary changes are made on a change-of-beneficiary form filed with Bankers Life, never just a note in a will. You'll need the policy number and the new beneficiary's legal name, date of birth, and relationship.
Next step: Request the form from Bankers Life. We can help you fill it out so the change is recorded.
Can I cash out or borrow against my Bankers Life policy?
If it's a permanent policy with cash value, you may be able to take a loan, a partial withdrawal, or surrender it. Each has different costs and tax effects, and an unpaid loan reduces the death benefit.
Next step: Before you surrender, get a free review. There are often options that keep some coverage.
Paying for it
Why did my Bankers Life premium go up?
Term policies often jump in price when the level period ends. Some universal life policies need higher payments in later years to stay in force.
Next step: Check when your level period ends, then call us to compare options.
How do I make a payment or update billing on a Bankers Life policy?
Bankers Life handles payments, bank or card changes, and catching up a missed premium. Have your policy number and new payment details ready.
Next step: Contact Bankers Life at bankerslife.com. If a missed draft has you worried about a lapse, call us and we'll help you figure out what to ask.
How can I lower the premium on my Bankers Life policy?
There are usually options short of losing the coverage: a lower coverage amount, reduced paid-up coverage on permanent policies, using cash value to cover premiums, or replacing it with a policy that fits your budget.
Next step: Call us for a free review that prices each option before you decide.
Switching policies
Do it in this order.
Never cancel your current policy before the new one is in force.
- Get your current statement
- Compare side by side
- Apply and keep paying
- Review the new policy
- Then decide on the old one
What restarts with a new policy: the two-year contestability period, the suicide exclusion, and pricing at your current age.
Policy terms
Words on your policy, defined.
- Owner
- The person who controls the policy and can make changes. Not always the insured.
- Insured
- The person whose life is covered.
- Beneficiary
- Who gets paid. A contingent beneficiary is next in line.
- Face amount
- The death benefit before loans or unpaid premiums are subtracted.
- Grace period
- Time after a missed due date when coverage stays active, commonly 30 or 31 days.
- Level term period
- The years a term premium stays the same.
- Lapse
- When a policy ends because premiums weren't paid in time.
- Reinstatement
- Restoring a lapsed policy, usually with back premiums.
- Conversion privilege
- The right to switch term to permanent coverage, often without an exam, until a deadline.
- Cash surrender value
- What a permanent policy pays if cancelled, after charges and loans.
- Contestability period
- Usually the first two years, when an insurer can review the application on a claim.
- Rider
- An add-on to the base policy, such as accelerated death benefits.
- In-force illustration
- Your insurer's projection of how a permanent policy performs from today.
- Fraternal certificate
- What fraternal societies like Foresters call a policy.
- 1035 exchange
- A tax rule that can let cash value move to a new policy or annuity without current tax.
About Eterna
Here for you, whoever your insurer is.
Independent
We don't work for any insurance company.
No cost
A policy review is free, with no obligation.
Any state
We can help wherever you live.
Are you the insurance company?
No. Eterna is an independent agency, not Bankers Life. We don't work for any insurance company.
Did I need to buy my policy from you?
No. We help with Bankers Life policies, however you bought yours.
Will you try to sell me something?
If another policy fits better or costs less, we'll show you. If yours is the right fit, we'll say so.
How are you paid?
Insurers pay agents a commission on new policies. A review costs you nothing.
Does it matter what state I live in?
No. Our agents can help you no matter which state you live in.
Other insurance companies
Policy with another company?
See what to handle with your insurer and what to ask us.
Next step
Still have questions about your Bankers Life policy?
A licensed agent can walk through your policy with you. No cost, no obligation.