SBLI Term Life Insurance Review

Jeff Root Jeff Root
Posted in Reviews

Purchasing life insurance is a life-changing decision, and the options for life insurance companies are seemingly endless.

If you are looking for a dependable and affordable life insurance company with a reputable history, you may want to consider SBLI for your term life needs. With over 100 years of quality coverage under its belt and an auspicious founding by a Supreme Court Justice, SBLI has maintained its dedication to providing policyholders with exceptional coverage and customer service.

This review will dive into SBLI’s history, credit ratings, core values, and life insurance offerings to help you decide if SBLI could be the life insurance company for you.

About SBLI

SBLI stands out from the competition for a number of reasons. With SBLI, the premiums and rates of each policyholder are created and determined by the Life Insurance Professionals of SBLI, not by a third party medical practice.

SBLI Term Life InsuranceMost significantly, they do not penalize customers who are smokers, which is considered a black mark for many other policies across the life insurance industry.

SBLI also comes with a rich history, which finds its start in 1907. That year, the Savings Banks Life Insurance Company of Massachusetts (SBLI) was founded with its headquarters in Woburn, MA. And it was done so with an express goal set by its founder.

The company’s founder, Supreme Court Justice Louis Brandeis, envisioned a company that would provide reliable and affordable life insurance for all in need. This company was to be built on the ideals of compassion, empathy, and providing real customer care.

That company, now known as SBLI, stands to this day as the epitome of exactly what Justice Brandeis had envisioned. Currently serving over 1 million policyholders, SBLI is ever vigilant in providing the honest, straight-forward kind of life insurance their customers deserve.

They do so at reasonable prices which have long stood amongst the most affordable rates in the highly competitive national market.

Even through the Great Depression, when uncertainty was around every turn, SBLI firmly maintained its ideals and tireless dedication to life insurance services.

Over one hundred years after its inception, the life insurance company serves policyholders in 49 states across the U.S. and maintains their place amongst the most competitively priced companies in the industry.

SBLI Financial Rating

SBLI stands at an A (Excellent) rating with the independent credit rating agency A.M. Best for the quality of its service and reputation. The company also has an A- from Standard and Poor’s, indicating strong financial performance.

It also has earned the highest mark of an A+ rating from the Better Business Bureau, which ardently investigates a company’s practices, length of service, transparency, and many other vital factors in quality business.

At the end of the day, the reputability of SBLI stands not only on its own, but also on the well-founded support of independent opinions, and even more importantly, their customers.

Company Beliefs

It is the firmly held belief of SBLI that financial burdens should not have to weigh so heavily on its clients. Their term life insurance policies are specifically designed to be affordable, in your individual budget, and to serve you and those in your care. The SBLI Life Insurance Professionals are wholly and adamantly dedicated to helping you every step along the way.

This is where SBLI again stands apart from many competitors as the company strives to demonstrate that they answer to you, the policyholder, and not to the pressures of Wall Street.

Customer feedback is not only appreciated but continuously accounted for in the shaping of their policies.

Coupling that with the fact that the company’s Life Insurance Professionals average almost 22 years of life insurance sales and customer service experience, you are almost guaranteed to receive quality service. Every last representative of SBLI is dedicated to creating personalized service to each policyholder regardless of the size of the premium they pay.

The truth is that most of America is living on a budget these days. While many seek to cut corners and attempt to live without, there are certain necessities which should not be ignored. Not many life insurance companies understand these matters as well as SBLI does.

With that mission at its core, SBLI is also heavily involved in community service, extending its heart for providing care beyond its paying customers. SBLI supports a number of nonprofits, partnering with the American Heart Association, the Boston Marathon Jimmy Fund Walk, the National Brain Tumor Society, the American Diabetes Association, the Alzheimer’s Association, the American Red Cross, the J.J. Watt Foundation, and United Way.

Through partnering with these organizations and their initiatives, SBLI gives back in the way that its founder intended, aspiring to create a bright future for people in need.

SBLI Products

SBLI offers a variety of life insurance products, with its traditional term life policy being one of its most popular.

Term Life Insurance

The term life insurance policy is eligible for all customers between the ages of 18 and 60 years old.

These SBLI policies come in varying lengths, with 10, 15, 20, 25, and 30-year options. With SBLI, your initial range of premium can be determined with a no-obligation quote.

The payout for the individual plans range from amounts as low as $100,000 to as high as $30 million, but most rates of payout usually do not exceed $500,000.

What term life insurance offers and what makes it a popular choice is that those amounts are tax-free income to your loved ones in the event of your passing. Money that will allow them to transition forward with the peace of mind to know that they will not have to suffer financial duress amidst everything else.

Money for debt repayment, tuition costs, replacement of income, costs for elder care or medical expenses, and even mortgage payments can all be maintained.

Additional Life Insurance Products

Whole life insurance: SBLI also offers whole life insurance policies, providing customers with coverage that does not expire at a certain age and the added benefit of cash value.

LegacyShield: With this unique offering, SBLI can help guarantee your loved ones access to your will, passwords, policies, and other important documents in the wake of your passing.

SmartTerm360: With this plan, you can adjust the amount of your life insurance and premiums based on the stage of life you’re in, savings thousands of dollars in the long run and insuring you have just enough coverage at every part of your life.

Accelerated Underwriting: SBLI offers no medical exam coverage up to $500,000 in a matter of days to all customers under age 60 with this option.

Bottom Line

Life insurance is a very important decision to make because it not only affects you, but your family as well. When it comes time to make that key choice, you are going to have many options to choose from.

As you shop around for a life insurance policy, you want to be sure to select the policy that best suits you and your loved ones. More importantly, you are going to want to work with a company with firm conviction in their service and an equitable reputation.

This is where an independent life insurance agency comes in. We will discuss your needs and budget with you and help you find the best term life insurance policy that fits your needs, whether it is with SBLI or another one of the top life insurance providers.

You can make the right choice and begin with your no obligation quote today. Start living the rest of your life knowing that you have a life insurance provider like SBLI by your side, no matter what life brings.

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