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SBLI Life Insurance Review

SBLI features a quick application turnaround time. Once you get the policy, you can update your address and payment info online, but that’s about it — everything else requires a paper form, including updating your beneficiaries.

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Overview

SBLI, an A rated company founded in 1907, provides competitive underwriting for applicants with specific ailments such as hypertension, anxiety, and a family history of gender-specific cancers.

Our Take

SBLI features a quick application turnaround time. Once you get the policy, you can update your address and payment info online, but that’s about it — everything else requires a paper form, including updating your beneficiaries. SBLI features competitive underwriting for applicants with hypertension, anxiety, and family history of gender-specific cancers.

Financial Strength

Founded

1907

PolicyholderstooltipThis is how many active US life insurance customers this company insures.

500,000

AM BesttooltipA.M. Best is an independent rating agency that evaluates the financial strength of insurance companies. Ratings as of May 2016, on a scale from A++ to D.

A

BBB RatingtooltipBetter Business Bureau (BBB) is a non-profit that collects consumer feedback on businesses around the country.

A+

JD PowertooltipJ.D. Power and Associates is a global marketing information services firm that conducts surveys of customer satisfaction, product quality, and buyer behavior.

N/A

Finding the best rates

Each insurer approaches health conditions differently. One insurer might ignore a heart attack from a few years ago, whereas a different insurer might rate you as a higher risk for the same thing. Here are the details of how SBLI treats a variety of common health conditions from an underwriting perspective.

Pricing for health conditions
Health ConditionPricing
Survivor/Family HistoryFair
Recent Weight LossGood
Heart AttackGood
DiabetesFair
Sleep ApneaFair
Former Tobacco UseFair
High Blood PressureGood
High CholesterolExcellent

Excellent - Above average; company provides excellent coverage for clients with this condition.

Good - Spot on; company doesn’t look at this condition unfavorably in underwriting.

Fair - Could use some work; clients with this condition may be issued a lower health rating, and subsequently higher rates than other insurers.

SBLI plan details

Unique Features

  • Competitive underwriting for applicants with hypertension, anxiety, family history of gender-specific cancers and others
  • Selection of riders to personalize your coverage
  • Fast track eligible for issue-free medical history

When applying

How's the application process?

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Pros

  • Electronic application
  • Average number of application forms
  • Fast-track process for issue-free medical history

Cons

  • Slower than average application approval (39 days)
  • Policy delivery by mail

After you're a policyholder

How's the customer service?

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What you can do online

  • Changing address
  • Changing payment info

What you can't do online

  • Updating beneficiaries requires paper forms
  • Policy cancellation requires paper forms

Sample Quotes

Quote for: $500,000, 20-year term life insurance policy for healthy, nonsmoking individuals, in California, monthly premiums

CompanyPlanMale - Age 30Male - Age 40Male - Age 50Female - Age 30Female - Age 40Female - Age 50
AIGSelect-a-Term$21.11$30.62$79.93$18.08$28.46$59.60
AIGROP Select-a-Term$91.21$150.77$281.97$75.80$124.95$261.56
Banner LifeOPTerm$21.44$32.38$94.07$18.19$26.60$58.62
John HancockTerm$26.95$34.65$81.70$24.20$34.00$78.99
Lincoln FinancialLifeElements$28.44$38.94$78.75$23.63$30.63$58.63
Lincoln FinancialTermAccel$21.00$29.75$78.75$17.94$25.81$57.31
Mutual of OmahaTerm Life Answers$21.66$33.47$85.53$23.41$28.66$64.09
Pacific LifePacific PROMISE Term$20.84$29.59$77.09$19.18$26.68$61.67
PrincipalTerm$22.75$31.94$79.63$20.04$27.56$59.24
ProtectiveCustom Choice UL$20.37$28.91$76.82$17.93$25.25$55.75
ProtectiveClassic Choice Term$20.21$28.38$75.68$17.63$25.94$55.47
PrudentialTerm Essential$34.20$43.65$88.65$27.90$38.70$76.95
PrudentialReturn of Premium Term$101.00$143.62$291.99$88.12$130.04$253.37
SBLILevel Premium Term$21.32$40.05$96.06$24.48$34.71$65.87
TransamericaTrendsetter Super$22.36$37.85$79.12$18.06$30.96$62.78
TransamericaTrendsetter LB$24.95$38.27$92.89$20.65$34.84$73.11

Details

Annual Payment Discount

4.4%

Payment methods available

Check; Auto bank draft; Credit card (only for first payment)

Is coverage available without a medical exam?

In some cases, depending on age and coverage amount.

What is the rule for converting the policy?

The policy is convertible until the earlier of the end of the term or to age 70.

Is temporary coverage available?

Yes, up to $1,000,000.

Available Riders

Riders are additions to your overall life insurance policy that turn a basic life insurance policy into something that covers more circumstances.

  • checkmarkChild Protection RidertooltipProvides up to $25,000 of term coverage for each dependent child between the ages of 15 days - age 23.

    Provides life insurance coverage for all eligible children.

  • checkmarkDisability Income RidertooltipWaives the premium in the event you become totally and permanently disabled.

    If you become totally disabled as a result of a qualifying event, you will not have to pay premiums for a fixed period of time.

  • checkmarkAccelerated Death Benefit RidertooltipAllows you to receive a portion of the death benefit if you're diagnosed with a terminal illness.

    Allows you to receive a portion of the death benefit if you are diagnosed with a qualifying terminal illness.

  • checkmarkAccidental Death Benefit RidertooltipProvides payment up to two times the death benefit (maximum $250,000) if you die before age 70 and within 180 days of an accident.

    Pays an additional death benefit on top of the base policy's death benefit if the death resulted from qualifying accidental injuries.

Common features

This policy, like all term life policies offered on our site, provides life coverage for a specific period of time (the term). The key features of this policy are standard across all the term policies we offer:

  • Level premium - which means the cost of the policy (the premium you pay) is fixed for the entire term of the policy. It will not increase during the term of the policy.
  • Good value - term life policies are significantly less expensive for the same amount of death benefit coverage than permanent life policies.
  • Regulated - the cost of this term life policy, for a given coverage amount and term, will always be the same for you regardless of who you buy it from. That’s because the policy will be priced based on the underwriting table the insurer files with the state insurance regulator.
  • No-risk obligation for you - you, as the policyholder, can cancel your policy at any time if you decide you don’t want it anymore. The insurer, however, cannot cancel your policy as long as you pay the premiums on time.
  • No exclusions - except for suicide during the first two years of the policy (which is standard by law across life insurance policies).
  • Terminal illness benefit - you can access a portion of the policy’s death benefit while you’re still alive if you’ve been diagnosed with a terminal illness. You might see this referred to as an "accelerated death benefit."
  • Convertible - which means, if you choose to, you can convert the term life policy to a permanent life policy. The conversion will generally cost you more and is subject to certain conditions.

The review on this page is only for this company's term life insurance products.

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50 West 23rd Street, Floor 9

New York, NY 10010

24/7 - Available when you need us

Monday-Thursday | 9am-11pm ET
Friday | 9am-8pm ET
Saturday | 9am-9pm ET
Sunday | 10am-9pm ET

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