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SBLI Life Insurance Review

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Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

Table of Contents

If you are considering SBLI for term life, this article will cover their history, financial strength ratings, and how they rank in terms of pricing.

You will see why we feel they are on our list of all-around best life insurance companies.

SBLI History

SBLI was founded in 1907 by Louis Brandeis, who was a lawyer, and associate justice on the U.S Supreme Court.

Brandeis founded SBLI in a difficult economic climate amid one of the worst stock market crashes in 1907, and when insurance was generally deemed as expensive.

His mission was to create a life insurance company that would provide affordable life insurance to working American families.

Financial Strength

Brandeis certainly achieved his mission of providing affordable life insurance to Americans.

The company currently has over $125 Billion on active life insurance policies and over $2 Billion in assets.

Financial rating agencies also agree that the company is very strong financially. A.M Best rates SBLI with an A+ Rating. An A+ is considered a Superior financial rating and is the highest category you can get.

The Better Business Bureau (BBB) gives SBLI an A+ rating as well.  This shows that SBLI is a sound company that you won’t have to worry about going bankrupt.

They been around for a hundred years and have experience offer quality insurance policies.

SBLI Life Insurance Policy Options

SBLI offers both term and whole life policies.

Term Life Insurance

They offer both Yearly Renewable Term (also called annual renewable term) and level term. Level term is the more popular choice as it allows you to lock in your rate for periods of 10, 15, 20, 25 or 30 years.

If you already know you want nothing more than an extremely affordable, basic policy, go with a term life insurance plan. Because these plans have an expiration date on them, they are much cheaper than the other options.

Whole Life Insurance

You can convert an SBLI term policy to a Universal Life, or Whole Life policy up until your term policy expires, or to age 70, whichever comes first.

This is a nice advantage that isn’t offered by every insurance company.

There are thousands of applicants that purchase a term life insurance plan, the older that they get, the more they want the permanent coverage of a whole life plan, but don’t want to have to reapply.

Riders Offered

Accelerated Death Benefit Rider

Included at no charge with every term policy through SBLI is an accelerated death benefit rider.

This rider allows you to access part of your death benefit should a doctor deem you terminally ill.  With most insurance companies, you’ll have to pay for the additional rider.

The accelerated death benefit rider, you’ll be able to get some of the insurance payouts before you die. If you’re terminally ill, you can occur some massive expenses, which can be difficult to pay for.

Why should you have to go in debt and wait for your insurance policy pay out?

Child Rider

You can also add a child rider to cover your children on your policy. With the child rider, you can buy up to $10,000 of coverage for each child.

At age 25 your children can convert that to their own policy of up to $50,000 without a medical exam – even if they aren’t healthy they can still get coverage.

Disability Waiver of Premium Rider

In any type of situation where you’ve been disabled long term, there’s a waiver called the Disability Waiver of Premium which will pay your premiums until you’re back on your feet.

Both the child rider and waiver of the premium rider have an additional cost. They are excellent solutions to tragic problems that people encounter every day.

SBLI Life Insurance Rates

If you use our quote tool at the top right of this page and compare rates for term life, you will probably see SBLI among the top companies in terms of rates.

The company often has the best rate available, and other times they are only within a few dollars of the top company.

Should you Choose SBLI?

SBLI may very well be a good choice for you.

However, every person has unique circumstances, which is why speaking with us about your situation makes sense.

Here are a couple of examples when SBLI may not be the best company for you.

Family History of Cancer

If you have a family history of cancer (specifically with parents or siblings), you may not qualify for SBLI’s best health rating (and in turn pricing).

However, there are companies like Banner and ING that will offer you their best rates with a family history of cancer.

There are some companies that will not approve you for coverage if you have cancer, but nobody should have to go without an insurance policy.

Smokers

Or if you use chewing tobacco or smoke cigars regularly, you will be charged smoker rates on life insurance with SBLI, however, Prudential will offer you non-smoker rates, saving you a significant amount of money.

I use these examples to highlight that comparing rates and reading a review should be the first part of your research, and the second part should be speaking with us so that we can recommend the best life insurance company specifically for you.

Compare quotes above, or call us at 1-800-712-8519 to speak with us about your life insurance needs.

Doug Mitchell, CLU

Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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