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SBLI Life Insurance Review


ConsumersAdvocate.org Rating: 4.8 / 5 (Excellent)
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SBLI is a life insurance company founded in 1907 and headquartered in Woburn, Massachusetts. The company was established by eventual Supreme Court Justice Louis Brandeis and became a mutual insurance company in 2017.
 
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How is SBLI rated?

Breakdown

4.5/5
Company Stability
5.0/5
Reputation
5.0/5
Policies & Coverage

Overall Rating: 4.8 / 5 (Excellent)

The Savings Bank Life Insurance, or SBLI for short, gets high marks from us for its comprehensive policies, wide range of available riders and great ratings among reputable credit rating agencies. The fact that it's a mutual company means that every policyholder owns a piece of the company, incentivizing the company to put customer satisfaction over profit.

Financial Strength

Key Details

Standard & Poor's Financial Rating
A-
AM Best Financial Rating
A

Company Stability - 4.5 / 5

SBLI is an underwriter registered with the National Association of Insurance Commissioners (NAIC). It is a mutual company, meaning it is owned wholly by its policyholders and not publicly traded.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.65
*The NAIC complaint ratio (in this case 0.65) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A+
Date Collected
2023-10-23

Reputation - 5 / 5

SBLI is rated A+ by the Better Business Bureau and has been accredited by the institution since 2007. The company has only 9 complaints closed in the last three years and a rating of 3.6/5 based on 5 customer reviews. SBLI's complaint ratio with the NAIC is below the National Complaint Index.

SBLI Policies

SBLI offers customers the following life insurance policies: Term, Whole Life.

Term Life Insurance

Minimum Age
18
Maximum Age
74
Available Terms
10 year
15 year
20 year
25 year
30 year

Policies & Coverage - 5 / 5

SBLI offers both term life and whole life insurance policies. Its term life policies range for 10 to 30 years with a coverage amount of $100,000 to $5,000,000. Whole life policies include a cash value component as well as a guaranteed tax-free death benefit.

Flexibility and Available Riders

Available Term Life Riders

  • Child Protection Rider
  • Accidental Death Benefit Rider
  • Waiver of Premium Rider
  • Terminal, Chronic, and Critical illness Accelerated Benefit Riders

Flexibility & Available Riders - 5 / 5

SBLI offers a number of life insurance riders which you can attach to your policy. They include an accelerated death benefit rider, which is included at no charge, as well as a children's level term rider and accidental death benefit rider, among others.

Additional Company Information

Homepage URL
https://www.sbli.com/
Year Founded
1907

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Customer Comments & Reviews

Loading Reviews ...
emmcltnc
4/7/2024
These people took money out of our “Checking Account “ and we Never even signed up for this Insurance, until today we have never ever heard of them before. My husband will be calling them on Monday and we will be making a complaint to the BBB also. I would give them a 0 star rating but unfortunately I can’t get a 0 star rating. We expect our money to be put back in our account the same day as we call them. We still do not know how they went into our account without my husband or I even signing or okaying any type of paperwork for this Insurance. We didn’t even know about this company until we saw a $000.00 in our account. We our seniors and we our on a monthly budget and that just took... Read More

Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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