Savings Bank Life Insurance, also known as SBLI Mutual, was founded in 1907 by Supreme Court Justice Louis Brandeis. Driven by the mission to make life insurance accessible, affordable, and reliable, SBLI continues to provide quality life insurance to thousands of families.
SBLI Company History and Highlights
Though SBLI was founded over 100 years ago, it still operates on Justice Louis Brandeis’ founding principles. SBLI is committed to treating customers like humans and not just sales figures. In an effort to continue providing quality life insurance at affordable rates, SBLI has remained a private insurance company. As a result, they are not subject to stock market volatility or focused on the financial desires of their shareholders. Instead, they aim to keep policies reasonable and measure success by the happiness of their customers.
SBLI Plans and Riders
Term Life Insurance
SBLI Term Life Insurance
SBLI Term Life Insurance is a basic term life policy that provides coverage for a specified period.
Specific features of this plan include:
- Level term premiums
- Policy conversion options
- Can opt to keep the coverage until 85 (rates increase each year)
- Eligible for ages 18 to 60
- Provides up to $750,000 in coverage
SmartTerm 360
SmartTerm 360 is a group of term policies that allows you to buy layers of coverage of different terms. This flexibility enables policyholders to adjust coverage at different stages in life so they only pay for what they need.
Whole Life Insurance
SBLI Whole Life Insurance
SBLI Whole Life Insurance policy combines lifetime protection with potential cash value growth.
Features include:
- Level premiums
- Eligible for ages 15 days to 80 years old
- Coverage ranges from $25,000 to $50 million
- Tax-free death benefit
- Access to your cash value
- Variety of premium payment schedules
- Has an accelerated underwriting option
- Has six different payment options
Final Expense Life Insurance
SBLI Cherish Life
Final expense life insurance provides a cash payment to cover your funeral expenses and other lingering debts.
Features of this plan include:
- Lifetime coverage
- Level premiums and guaranteed death benefits
- Coverage ranges from $2,000 to $35,000
- Instant decision
- Graded plans available
SBLI Insurance Riders and Benefits
- Accelerated death benefit
- Accidental death benefit
- Children’s level term rider
- Guaranteed purchase option
- Guaranteed level premium
- Cash-out term
- Single-pay paid-up additions
- Term rider
- Waiver of premium rider
- Value added benefit
Ratings, Reviews, and Complaints
Third-party sources such as TrustPilot, Nerdwallet, and Investopedia give SBLI four-star ratings out of five. Additionally, SBLI’s NAIC complaint index rating is 0.78, indicating that they receive fewer customer complaints than other companies its size in its industry.
Third-Party Financial Strength Ratings
Why Principled Life Trusts SBLI
Principled Life trusts SBLI not only because of its solid financial ratings but also because of the company’s stellar reputation. SBLI is one of the top-ranked life insurance companies, and it lives up to its commitment to providing straightforward life insurance at a fair price.
