(844) 786-8229 [email protected]

When you shop for life insurance through Quotacy, you have access to the country’s top-rated life insurance companies. Is SBLI the right term life insurance company for you? In this video, we review SBLI to help you make an informed buying decision.

Video Transcript

Hey everyone we’re Jeanna and Natasha and we work at Quotacy. Quotacy is an independent life insurance broker. This means we have the ability to sell policies from multiple life insurance companies giving you more options.

Today we’re going to give a review of SBLI one of the life insurance companies we work with. SBLI is short for Savings Bank Mutual Life Insurance Company of Massachusetts.

No wonder they go as SBLI. Well, SBLI is an American company headquartered in Massachusetts and has been around since 1907.

Overall, SBLI is a great company and excellent for applicants who are afraid of needles and need to skip the medical exam.

Quotacy only works with top-rated life insurance companies which means they are rated A or better and SBLI is no exception. Being A rated or better means the company is financially secure so you won’t have to worry about your policy’s death benefit not being paid.

To stand out in the competitive life insurance industry some companies cater to different health or lifestyle niches. SBLI is excellent for those with ADHD and those who want life insurance but also want to bypass a medical exam.

SBLI is an Excellent Choice for:

  • Accelerated Underwriting
  • ADHD
  • Healthy Individuals
  • No Medical Exam

 
 
Let’s talk about what we like in regards to SBLI’s policies and buying process.

SBLI’s level term product is sold in term lengths of 10, 15, 20, 25, and 30 years. The smallest amount of term life insurance you can purchase is one $100,000 but this is pretty standard.

SBLI’s Level Term Policy

Available Term Lengths

10, 15, 20, 25 and 30-year policies available (depending on applicant’s age)

Available Coverage Amounts

$100,000 and up

Grace Period for Missed Payments

30 Days

 
 
Depending on the life insurance product, there will be different policy riders available. Life insurance policy riders are additional benefits that you can add on to your policy at the time of purchase. SBLI’s term policy offers an accelerated death benefit rider, accidental death benefit rider, premium waiver for disability rider, and a child rider.

Available Riders on SBLI policies

Accelerated Death Benefit Rider

(Included in all SBLI policies)

Accidental Death Benefit Rider

(Available at additional cost)

Premium Waiver for Disability

(Available at additional cost)

Child Rider

(Available at additional cost)

 
 
Let’s break these down.

Accelerated Death Benefit Rider

This rider is included in your policy at no charge. It gives you access to a portion of your policy’s death benefit if you are diagnosed with a terminal illness resulting in 12 months or less to live.

 
 
An accelerated death benefit rider is included in SBLI term policies at no charge. This rider gives you access to a portion of your policy’s death benefit if you are diagnosed with a terminal illness resulting in 12 months or less to live.

Accidental Death Benefit Rider

(Available for an additional cost)
 
Your policy’s beneficiary will receive an increased death benefit if you die due to an accident. Rider cost varies by age and benefit amount with options ranging from $25,000 to $500,000—not to exceed the policy’s face amount.

 
 
An accidental death benefit rider is available on SBLI term policies for an additional cost. With this rider your policy’s beneficiary will receive an increased death benefit if you were to die due to an accident. This rider is a popular add-on for applicants who perhaps have a dangerous job or participate in risky hobbies.

Premium Waiver for Disability

(Available for an additional cost)
 
If you purchase this rider, SBLI will waive premium payments during a period of total disability lasting six consecutive months or more. The waived payments don’t have to be paid back. This rider is not available on all policies and its cost varies by age.

 
 
A premium waiver for disability rider is available on SBLI term policies for an additional cost. With this rider, SBLI will waive your premium payments during a period of total disability lasting six consecutive months or more.

Child Rider

(Available for an additional cost)
 
You can add a Child Rider to your term policy for as little as $60 per year. This rider covers each of your children under age 23 with options ranging from $10,000 to $25,000 in coverage per child. Ask your Quotacy agent for more details.

 
 
A child rider is available on SBLI term policies for an additional cost as well. For as little as $60 per year, a child rider provides $10,000 in life insurance coverage on all of your children less than 18 years of age. It also would include any future children you may have or adopt.

Overall, SBLI is a great company and excellent for applicants who are afraid of needles and need to skip the medical exam.

Ready to get your life insurance quote?

You're a few minutes away from great life insurance

Get your quote

How much life insurance do you need?

Figure out your action plan with our needs calculator

Calculate needs

When you apply for life insurance, most applicants need to have a medical exam done. This is so the insurance company can evaluate your current health to determine what kind of risk you are to insure. However, through SBLI, if you’re 49 years old or younger and are looking for $500,000 in term coverage or less you can skip the medical exam.

SBLI Accelerated Underwriting

If you are age 49 or younger and applying for $500,000 in coverage or less, you are eligible for SBLI’s accelerated underwriting program and won’t need a medical exam.

 

  • A phone interview is required.
  • Underwriting will still include evaluation of medical records and motor vehicle records.
  • Not available in New York or Montana

 
 
It’s important to note that because you are not required to have a medical exam done SBLI will request to look back on years and years of medical records and sometimes it takes doctor’s offices quite a while to forward your records to the insurance company. Because of this extra step in the process, underwriting can take two to four weeks longer through SBLI than other companies that include a medical exam.

If you’re looking for life insurance, SBLI is a good option. If you’ve been diagnosed with ADHD or have a strong fear of needles then SBLI is a great option.

When you apply through Quotacy, we’ll review your application to double-check that you’ve chosen to apply to a company that will give you the most favorable outcome. The final choice is of course 100% your decision. We simply aim to be completely transparent and make sure you know all your options.

» Compare: Term life insurance quotes

If you’re interested in any of the riders we mentioned let your Quotacy agent know after you apply. They’ll let you know the exact cost of any rider you want to purchase and can add on to your policy during the buying process. Quotacy can help you get life insurance from SBLI or any of the other top-rated life insurance companies we work with.

And why should you get life insurance through Quotacy?

Our agents are licensed in all 50 states and they work on salary, not commission, so we’ll never try and upsell you. We work for you, not the insurance companies. You won’t pay any extra fees or charges to use our services.

Get a free, instant term life insurance quote now from multiple top-rated life insurance companies without giving away any contact information. Bye!

 

About the writer

Headshot of Natasha Cornelius, a life insurance writer, for Quotacy, Inc.

Natasha Cornelius

Writer, Editor, and Co-host of Quotacy's Q&A Fridays

Natasha is the content manager and editor for Quotacy. She has been in the life insurance industry since 2010 and has been making life insurance easier to understand with her writing since 2014. When not at work, she's probably studying and working toward her Chartered Life Underwriter (CLU) designation while throwing a tennis ball for her pitbull mix, Emmett, or curled up on her couch watching Netflix. If it’s football season, the Packers game will be on. Connect with her on LinkedIn.