FIDELITY BANKERS LIFE INSURANCE COMPANY TRUST
|
ALFRED W. GROSS |
PATRICK H. CANTILO |
|
TRUSTEE |
DEPUTY TRUSTEE |
December 1, 2000
Dear Policyholder:
This letter is a follow-up to our correspondence dated March 1, 2000, regarding payment of the Plan Dividend by the Fidelity Bankers Life Insurance Company Trust (the
ATrust@). Your initial Plan Dividend payment is enclosed with this letter, along with a Plan Dividend Summary. The Plan Dividend Summary details the amount of the Plan Dividend the Trust still owes you pursuant to the Fidelity Bankers Life Insurance Company ("Fidelity Bankers") Rehabilitation Plan. The Summary also provides some information regarding the extent, if any, to which a guaranty association has contributed to the enclosed payment. You should consult your tax consultant for advice on all tax matters relating to your Plan Dividend payment.The Trust is being liquidated and we anticipate that additional amounts will be distributed by the Trust during this liquidation process depending on the availability of funds during the Trust
=s liquidation. The Trust will keep you advised as additional distributions become available if you have an unpaid Plan Dividend as reflected on the attached Plan Dividend Summary.A state life and health insurance guaranty association ("GA") may have provided coverage for the Fidelity Bankers policyholders residing in your state of residence. Thirty-nine of those GAs (as listed below) entered into a "Supplementary Agreement" with the Deputy Receiver in 1993 to provide benefits to those policyholders. Those GAs and the Deputy Receiver recently entered into a settlement agreement under which the GAs provided money to the Deputy Receiver for distribution to certain former Fidelity Bankers policyholders who the GAs determined were eligible for additional funding for benefits. The Plan Dividend payment you received includes the money, if any, that any GA designated be distributed to you.
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Alabama |
Kentucky |
New Hampshire |
South Carolina |
|
Alaska |
Maine |
New Jersey |
South Dakota |
|
Arkansas |
Massachusetts |
New Mexico |
Tennessee |
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Connecticut |
Michigan |
North Carolina |
Utah |
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Delaware |
Minnesota |
North Dakota |
Vermont |
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Hawaii |
Mississippi |
Ohio |
Virginia |
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Idaho |
Missouri |
Oklahoma |
West Virginia |
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Illinois |
Montana |
Oregon |
Wisconsin |
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Indiana |
Nebraska |
Pennsylvania |
Wyoming |
|
Iowa |
Nevada |
Rhode Island |
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If the enclosed payment has been funded in part by one of these guaranty associations, the Plan Dividend Summary identifies the portion so funded. If the Summary does not indicate such funding, the enclosed payment has been made entirely from assets of the Trust. The fact that the associations of states not listed above have not contributed to this Plan Dividend Distribution does not indicate that they have no legal liability to former Fidelity Bankers policyholders. Rather, the guaranty associations for the states listed above have recognized their statutory obligations and elected to discharge them by adding to the Plan Dividend payment. Policyholders whose policies are covered by non-participating Guaranty Associations may have rights against such Guaranty Associations under the applicable Guaranty Acts. If you believe that another guaranty association may be obligated to you (for example, because you resided in such other state at the time Fidelity Bankers was placed in receivership) you should contact your legal advisor, the regulators of such state, or the guaranty association for such state. Additional information on participating state Guaranty Associations is available by contacting the Trust at the telephone number, mailing address, or Internet e-mail address reflected in this letter. The Trust's web site (www.fblic.com) contains the telephone number of each state Guaranty Association so that you can contact the Guaranty Associations directly.
Policyholders should notify the Trust of any address changes or if this letter has been sent to an incorrect address. You may contact the Trust for additional information as follows: (1) by calling toll-free at 1-888-660-7083, (2) by writing to the Trust at P.O. Box 83438, Lincoln, NE 68501, or (3) by e-mailing the Trust at admin@fblic.com. Additional information on the receivership may also be viewed on-line at the Trust's Internet web site at www.fblic.com.
You may contact Hartford Life Insurance Company (
Please do not hesitate to contact the Trust (or Hartford Life if you maintain an in-force insurance policy) if you have any questions regarding your distribution and the information in this letter.
Sincerely yours,
Alfred W. Gross
Virginia Insurance Commissioner and
Trustee of the Fidelity Bankers Life Insurance Company Trust
FIDELITY BANKERS LIFE INSURANCE COMPANY TRUST
|
ALFRED W. GROSS |
PATRICK H. CANTILO |
|
TRUSTEE |
DEPUTY TRUSTEE |
December 1, 2000
[Policyholder Name]
[Address 1]
[Address 2]
[City, State, Zip]
[Policy Number: xxxxxxx]
PLAN DIVIDEND PAYMENT SUMMARY
The summary below provides the Plan Dividend amounts due to you under the Rehabilitation Plan as a former policyholder of Fidelity Bankers Life Insurance Company:
|
Description |
Amount |
|
Total Plan Dividend Due |
$1,000.00 |
|
Plan Dividend Payment 12/01/00 |
$453.00 |
|
Amount Paid by Guaranty Fund From [not applicable] |
$100.00 |
|
Federal Tax Withheld |
$100.00 |
|
PLAN DIVIDEND BALANCE |
$347.00 |
If the PLAN DIVIDEND BALANCE shown is zero ($0.00), you are not due any further distributions from the Fidelity Bankers Life Insurance Company Trust (the "Trust") and none will be made to you in the future. If a PLAN DIVIDEND BALANCE greater than zero ($0.00) is shown, that amount is owed by the Trust and will be paid subject to availability of assets. The Plan Dividend distribution is subject to federal income tax withholding unless you made an affirmative election that tax withholding shall not apply to your distribution. If federal income tax has been withheld, it is noted in the above Plan Dividend Payment Summary. Should you have any questions regarding this information, please contact the Trust at the number given below.