SBLI – Life Insurance Company Review

We answer the questions that people want to know about SBLI.

Will SBLI Be There When I Need It?

With over 1 million families protected since its start in 1907, SBLI is a reputable company worth considering.

SBLI stands for Savings Bank Mutual Life Insurance Company of Massachusetts.

Financial Strength

  • AM Best – “A”
  • S&P – “A-“

SBLI is one of the more competitive life insurance companies we work with.

How Easy is it to Get a Policy with SBLI?

SBLI makes it easy to buy a policy by offering e-applications and e-policies.

Accelerated underwriting is offered by SBLI.

No exam is required if you meet the following criteria:

  • Ages – 18-60
  • Face Amounts – $100,000 – $750,000
  • Term Lengths – 10, 15, 20, 25 & 30 year terms
  • Whole life also eligible
  • All underwriting rate classes are available
  • All states except NY and MT

Accelerated Underwriting Work with SBLI

It’s a very simple process where we gather some basic information from you.

We submit the information to SBLI, and they will contact you for a 20-30 minute phone interview.

They’ll ask you financial, medical, employment, hobbies, tobacco, and other insurance related questions.

Once complete, you will either e-sign or voice signature your application and underwriting begins.

When SBLI begins underwriting, they will review:

Upon completion, underwriting will make their decision.

If approved, your policy will be e-delivered to you.

How Fast is SBLI’s Accelerated Underwriting?

It depends on what information underwriting receives.

Some cases (usually younger insureds) are approved immediately, while others may require medical records.

Are SBLI Policies Competitive?

Term life insurance from SBLI is very competitively priced, often ranking in the top 5.

SBLI offers the following term life insurance policies.

  • Minimum Face Amount – $100,000
  • Maximum Face Amount – $50 million
  • Term Lengths Available – 10, 15, 20, 25 & 30 year terms
  • Rate Classes
    • Preferred Plus
    • Preferred
    • Select
    • Standard
    • Preferred Nicotine
    • Standard Nicotine

SBLI term life insurance policies may be converted to a whole life insurance policy.

In some instances, a universal life policy is available.

Conversion must take place prior to turning age 70 or the end of the level term period, whichever comes first.

What Other Features and Benefits Do SBLI Policies Offer?

A number of riders are available to help meet your individual needs.

Accelerated Death Benefit Rider – No-cost rider accelerates a portion of your death benefit.

It is available if you become terminally ill and death is expected within 12 months.

The rider accelerates up to 50% of the death benefit if you choose, up to $250,000.

Available for term and whole life.

Accidental Death Benefit – This additional cost rider pays up to 2x the base policy death benefit up to $250,000.

It is available for insureds up to age 65.

It pays the benefit if the insured dies before age 70 and within 180 days of an accidental body injury.

Available for term and whole life.

Children’s Level Term

Provides up to $25,000 of term coverage at one low price for children.

Available for ages 15 days to 23 years, the rider expires when the child turns age 25 or the primary insured turns age 65.

The term may be converted to a whole life insurance policy.

Available for term and whole life.

Waiver of Premium – This additional cost rider waives your premiums if you become disabled for at least 6 months.

It is available to insureds age 15-55 years old (18-55 for whole life), and terminates at age 65.

Available for term and whole life.

Guaranteed Level Premium Term – Additional cost rider available for whole life insurance policies.

This allows you to add term life coverage to your whole life policy, subject to limitations.

Guaranteed Purchase Option – Additional cost rider available for whole life.

Prior to turning age 50, you may purchase additional insurance with no exam or health questions required.

Single-Pay Paid-Up Additions Rider – This whole life rider allows you to make a one-time deposit at purchase.

It is used to increase the death benefit and cash value at the time the policy is issued.

SBLI Healthy Credits Program

With the Health Credits Program, it’s possible to improve you underwriting offer by up to 2 table ratings!

  • Improvement available to Select class
  • Ages 18-70
  • Up to $10,000,000 of coverage
  • Through Table Rating 5
  • Certain health impairments are excluded

If you miss the “preferred plus” or “preferred” guideline due to one of the following, you can still get the rate.

  • Build
  • Blood Pressure
  • Cholesterol
  • Family History

Wellness evaluations may include

  • A regular wellness exam within the past 24 months
  • Age/Gender-Related Evaluations such as
    • Colonoscopy
    • Mammogram
    • Pap smear
    • Prostate evaluation
    • Cardiovascular tests for age 40 and over.

We’ll let you know all options available to you when we discuss your life insurance.

Does SBLI Provide Good Customer Service?

Customer service is pretty good at SBLI, and they have been pretty responsive to helping you when needed.

You have a number of options available to reach SBLI when you need them.

The customer service phone number is 800-694-7254

SBLI offers an online portal – here

You can make changes to your policy, pay premiums, report a death claim or request policy owner service forms.

SBLI Headquarters is located at:

1 Linscott Road, Woburn, Massachusetts 01801


SBLI is a good company worth considering for your term life insurance needs.

Please take a few minutes to submit your quote request.

We’ll provide you with quotes from Savings Bank Life as well as their competitors. Thank you.

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