Life insurance may not be high on your list of financial priorities, but it is an investment that you shouldn’t overlook. In addition to providing financial security for your family if you die, good life insurance can provide many financial benefits while you are still alive.
SBLI is an insurance company that focuses exclusively on life insurance. Their commitment to ethical and responsible use of life insurance sets them apart from their competitors. Whether you’re looking for a simple, no-frills policy or comprehensive life insurance coverage to help you build your wealth and protect your family, SBLI has plenty of options to choose from.
What is SBLI?
SBLI offers affordable, comprehensive life insurance as well as great customer service. Founded in 1907 by Supreme Court Justice Louis Brandeis, SBLI prides itself on personalizing high quality life insurance. This commitment to policyholders is reflected in their core values:
How does SBLI work?
SBLI offers a variety of life insurance products. Getting a quote online is quick and easy. The entire application process is simple, user-friendly and takes about ten minutes.
When you navigate to the home page of the SBLI website there is a link front and center that you can click to get a term life insurance quote.
To get a quote, you first need to fill in some basic information about yourself, including your age, gender and the type of coverage you want.
Next, you will be asked about potentially risky jobs and behaviors, such as: B. Military service, smoking, reckless driving, diving, skydiving, and other things that could increase your risk.
You will then be asked to provide more information about your personal and family health. This includes basic information about your height and weight, whether you are taking medication, have high blood pressure or cholesterol, or are planning to have major surgery.
Other health factors that you need to disclose include depression, diabetes, anxiety, asthma, and drug or alcohol abuse.
Depending on the risk factors you have, your insurance offer may increase after you have completed the questionnaire. After you’re done, you’ll need to sign the terms of use, fill in some additional personal information like your address, social security number, and license. Then you can submit your application!
What does SBLI cost?
The cost of life insurance from SBLI can vary based on your circumstances, including your age, gender, health, the coverage you are interested in and the type of insurance you choose.
SBLI prides itself on providing high quality, affordable coverage to its customers. For term life insurance for a 26-year-old woman in good health, the monthly premium is around $ 43 (but again, your personal rate varies).
SBLI functions
In addition to offering high quality and affordable life insurance, SBLI also offers a number of additional perks and benefits, including expedited underwriting and a free subscription to the LegacyShield program.
Life insurance for final costs
Life insurance for final costs is a type of life insurance that can be used by your family to cover funeral expenses, medical bills, or to pay off debts. Coverage ranges from $ 2,000 to $ 35,000. The cover never expires as long as you pay your monthly premium.
This type of life insurance is a great option if you are looking for a simple, affordable policy that will help your family with basic costs in the event of your death.
Term life insurance
Term life insurance is a common type of life insurance that covers a specific term. Term life insurance premiums are generally lower than other types of life insurance and are fixed for the duration of the term. SBLI does not require a medical examination for term life insurance if you are between 18 and 60 years old and require coverage below $ 750,000.
SmartTerm 360 life insurance
SmartTerm 360 is a unique type of life insurance offered by SBLI. Under this policy, your monthly premiums will decrease as you age. This type of policy is a great option for consumers looking for affordable life insurance that adapts to their changing circumstances as they age.
Life insurance
In contrast to term life insurance, which expires after a certain period of time, Life insurance has no term limit and offers lifelong coverage as long as you continue to pay your monthly premium. Life insurance also offers fixed premiums and the ability to withdraw money or take out loans against your policy.
Life insurance driver
Even after taking out life insurance, there may be gaps in your insurance coverage depending on the situation. That’s where Life insurance driver These option add-ons allow you to tailor your policy to your specific needs and include benefits like child coverage, accidental death benefits, the ability to waive premiums for disabilities, drivers with term, and more.
Accelerated underwriting
One of the added benefits of SBLI life insurance is the accelerated underwriting process. This means you won’t have to wait months for your application to be approved and your coverage activated.
If you are under 60 and interested in coverage of $ 750,000 or less, no medical evaluation is required and you can get a decision within a week. While a phone call is required to complete your application, you can complete most of the application process online.
LegacyShield
Another nice feature SBLI offers is the LegacyShield program. This is a free subscription to a digital tool that can be used to save important photos, documents, and final wishes. You can also create documents for your estate plan and view all of your financial accounts in one place.
My experience researching SBLI
One thing that really struck me while researching SBLI is their commitment to customer satisfaction and ethical responsibility. SBLI is determined to offer high quality life insurance at a fair price while being kind and compassionate to its customers.
Another unique aspect of SBLI is that it is not a publicly traded company. Instead, they belong to the policyholders. This means they can focus on helping customers and delivering a quality product instead of just doing what drives profits.
Unlike some other insurance companies, SBLI doesn’t offer a wide variety of insurance products and services. Instead, they focus solely on life insurance. This allows them to be determined to provide great life insurance protection, which I found very helpful.
Applying for term life insurance through SBLI was a quick and easy process. I received an offer within seconds and could have completed the application within minutes. In many cases, a medical exam is not required to acquire coverage, which I think is a huge plus.
One aspect of SBLI that some may not like is that there are no full or universal life insurance offers online. Instead, you’ll need to call a representative to discuss your options. If you are applying for term life insurance, you will also need to speak to a representative on the phone before finalizing your application. While this isn’t a big deal for most consumers, it could be a deal breaker if you’re looking for an application process that takes place entirely online.
Who is SBLI best for?
SBLI offers life insurance for people of all income levels and stages of life.
People who want simple basic services
SBLI’s life insurance policy is a great choice for those who want a simple, affordable policy that covers basic funeral and living expenses.
People who want to customize their policies
With several different insurance options as well as additional drivers, SBLI life insurance is a great choice for those who want to tailor their policy to their particular situation.
People looking for an ethical insurance company
SBLI prides itself on being an ethical, responsible company that puts the needs of its customers first. They are not publicly traded, so they are customers, not shareholders.
Who shouldn’t use SBLI?
While SBLI is a great life insurance policy for many people, it may not be the best option for everyone.
People who want to bundle insurance policies
SBLI only offers life insurance. While this can be seen as a positive sign of SBLI’s dedication to providing quality life insurance, it does mean that SBLI may not be the best option for those looking to bundle life insurance with other types of insurance.
People who want a full online application process
While you can complete most of your application online, SBLI does require a telephone consultation before you can complete your application. This means it may not be suitable for someone who wants an application process that is entirely online.
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