Skip to Main Content
Stronger Together – Learn how we're continuing to help our customers move toward a brighter future.
Add more coverage at a price you like. $100,000 in coverage can cost between $10-$15 per month.Get Started 

Variable Universal Life FAQs

  • Forms 1099-INT and 1099-R will be mailed by January 31st for qualifying policies/contracts.
  • The gain portion of annuity proceeds may be taxable to the beneficiary when it is distributed. There are several ways to defer the gain. Any interest paid on the benefits is taxable. Contact us for more information on specific settlement options available.
  • By Phone: Contact a Claim Professional at 1-800-779-5433, Monday - Friday, 7:00 a.m. - 7:00 p.m. CST 

    By Email: You may e-mail us at: WavClaimsMail@cunamutual.com

    By Mail: You can request a status update in writing by sending a letter to:

    CMFG Life Insurance Company

    2000 Heritage Way

    Waverly, IA 50677-9202    

  • By Phone: Contact a Claim Professional at 1-800-779-5433, Monday - Friday, 7:00 a.m. - 7:00 p.m. CST 

    By Email: You may e-mail us at: WavClaimsMail@cunamutual.com

    By Mail: Send a letter to:

    CMFG Life Insurance Company

    2000 Heritage Way

    Waverly, IA 50677-9202

  • Go to Account Overview and click on View Policy Details or View Contract Details. Please refer to your contract for additional features and benefits or call for friendly help and expert assistance.
  • By Phone: Contact a Claim Professional at 1-800-779-5433, Monday - Friday, 7:00 a.m. - 7:00 p.m. CST 

    By Email: You may e-mail us at: WavClaimsMail@cunamutual.com

    By Mail: Send a letter to:

    CMFG Life Insurance Company

    2000 Heritage Way

    Waverly, IA 50677-9202

  • You may be eligible to reinstate your policy by paying past premiums and providing evidence of insurability. Please call for assistance with your policy.
  • This service request can be made by completing a Service Form.
    Sign-In or Create Your Account  
    • Select Help and Support  
    • Select Variable Universal Life Forms from the Forms section
    • Select the Service Form that matches your request 
    • Complete and mail or fax 
  • By Phone: Contact a Claim Professional at 1-800-779-5433, Monday - Friday, 7:00 a.m. - 7:00 p.m. CST 

    By Email: You may e-mail us at: WavClaimsMail@cunamutual.com

    By Mail: Send information to:

    CMFG Life Insurance Company

    2000 Heritage Way

    Waverly, IA 50677-9202


    Please provide the insured's name, date of birth, date of death, and policy number(s).

    If you are not the policy beneficiary, you may be asked for the beneficiary's address.

    Please note: Policies in force for two years or less will require additional documentation for claim review.

  • This service request can be made by completing a Service Form.
    Sign-In or Create Your Account  
    • Select Help and Support  
    • Select Variable Universal Life Forms from the Forms section
    • Select the Service Form that matches your request 
    • Complete and mail or fax
  • Partial withdrawals cannot be made online. Please call for friendly help and expert assistance with your contract.
  • We currently do not provide edelivery of statements or other documents. Please call us for assistance at 800.798.5500.
  • The length of time it takes to receive your money will depend on the time at which the request is received and the delivery method that you choose. Requests received prior to 3:00 p.m. CT are processed within 3 calendar days. Requests received after 3:00 p.m. are considered received the next business day and will be processed within 4 calendar days.


    Delivery methods available include: 

    Method Time Charges
    Check sent via U.S. Postal Service Sent the day after the request is processed. Receipt depends on U.S. Postal Service. None
    Check sent via Overnight Delivery Service Sent the day after request is processed. For most areas, you will receive the check the next business day. Some remote areas take 2 business days. $25.00
    Wire to your account Funds will be credited to your account the day after we process your request. We need the name of your financial institution, routing and account numbers, type of account (savings, checking or share draft) and names on the account. $25.00
    Electronic Funds Transfer Funds will be credited to your account with 48 hours (business days) after your request is processed. We need the name of your financial institution, routing and account numbers, type of account (savings, checking or share draft) and names on the account. None


  • 1) Proof of death

    Additional Information is required:

    If Beneficiary is Estate:

    • Letters of Testamentary or Authority issued by the Probate Court showing the name and address of the executor or personal representative of the estate.

    • A valid Tax ID Number for the estate (provide on claim form). If you do not have an ID #, one can be obtained by calling the IRS at 1-800-829-4933.

    • If there are not enough assets to probate an estate, please obtain a Small Estate Affidavit from the county court house – Probate division, where insured resided.

    If Beneficiary is Trust:

    • A copy of the trust agreement. The pages of the Trust required are: the title page, the appointment of trustees or successor trustees after death of the insured and the final page showing the date and witness signatures.

    • A valid Tax ID number for the trust. If you do not have an ID #, one can be obtained by calling the IRS at 1-800-829-4933.

    If Beneficiary is a Minor:

    • Completed Claimant's Statement completed by an adult family member in behalf of the minor. The funds will be placed in an interest bearing account with our company until the minor reaches legal age.

    • To have the funds released prior to the time the minor reaches age of majority, copies of the court appointment papers for guardianship or conservatorship for the minor child must be received.

    If Beneficiary is Deceased:

    • Proof of death for the deceased beneficiary. 

  • It normally takes 1-3 business days to process a claim. A letter, a statement of values and the settlement check are sent out through regular mail.
  • Partial Withdrawal:

    • Reduces the cash value of your contract and cannot be repaid.

    • If your policy has a Death Benefit Option 1 – Level, the specified face amount of your contract will be reduced by the amount of the partial withdrawal.

    • If your policy has a Death Benefit Option 2 – Changing, the death benefit (specified face amount plus accumulated cash value) is reduced by the cash value withdrawn.

    Loan:

    • Unpaid loan balances will be deducted from the death benefit payable on your contract..

  • A 1035 exchange is the exchange of an insurance contract for another that meets all the requirements of Section 1035 of the Internal Revenue Code (IRC §1035). When a contract is exchanged under IRC §1035, the gain or loss of the exchanged contract is transferred to the new contract.

    Only the following types of exchanges will qualify for non-taxable treatment:

    FROM: TO:
    Life insurance policy Life insurance policy; nonqualified annuity contract
    Endowment contract Nonqualified annuity contract
    Nonqualified Annuity Contract Nonqualified annuity contract

    The other requirements for non-taxable treatment include:

     

    • The owner and insured/annuitant on both contracts must be identical.
    • The contract being exchanged must be in force. If the contract is maturing, the 1035 exchange request must be signed prior to the maturity date.
    • The entire value of the existing contract must be exchanged. If any cash is received, the taxable gain up to the amount of cash received is taxable.
  • Variable Universal Life (VUL) is a versatile product which provides both insurance protection and investment components. VUL, like universal life insurance, allows you the flexibility to choose the amount and timing of your premiums, subject to company minimums and IRS maximums. Likewise, you may increase or decrease the death benefit, depending on policy minimums and any underwriting requirements.
  • You can view and quickly update your beneficiary information online. Sign-In and click the Beneficiaries link on the Account Overview or Policy Details page. 
     
    If you have questions about your current beneficiaries, you can click on the chat icon to get help now, or give us a call. 
  • CMFG Life Insurance Company

    2000 Heritage Way

    Waverly, IA 50677-9202

    Fax Number: 1-608-236-8030

  • Anyone can notify us of a death. However, only the named beneficiary(ies) can submit the necessary documentation or evidence to settle the claim.