SBLI bills itself as “the no nonsense insurance company.” They’re not far off the mark. SBLI specializes in life insurance and annuities. They don’t offer the multi-tiered variable life insurance policies of many of the competitors, which certainly reduces your options with SLBI. This won’t be an issue for those looking for affordable and reputable life insurance—SBLI provides standard life insurance at fair premiums. If you’re looking for a life insurance policy that will double as a retirement plan and investment portfolio however, some of our other selections will probably be a better fit.
SBLI’s massive learning center ensures that you’ll understand the ins and outs of life insurance well before you commit to any policy. In addition to comprehensive articles and FAQs that detail every feature of their life insurance plans, SBLI provides general financial advice on everything from college savings accounts to maintaining a good credit score. Jonathan Pond, SBLI’s spokesperson, discusses financial topics on video at the learning center as well.
You won’t find a multitude of options at SBLI. You’re basically limited to term, whole and children’s life insurance policies. We don’t mind the lack of variety at SBLI though. Their term insurance is as flexible as the offerings from the competition, with terms of 10, 15, 20, 25 and 30 years available and payouts of $100,000 through $10 million.
Unlike term life insurance, SBLI’s whole life insurance policy does not expire and accumulates equity that can be leveraged. In comparison to universal life insurance policies, SBLI’s whole life insurance is inflexible in terms of premiums—your premiums never change, but you are required to pay them in full to keep your coverage. Whole life insurance has the additional benefit of going untaxed so long as it is not cashed out.
At first glance, it might seem a bit strange, but SBLI’s children’s life insurance has some benefits worthy of consideration. The payouts on children’s life insurance policies aren’t extraordinarily high, but they would more than cover typical expenses in the event of unexpected tragedy. Additionally, children’s policies warrant consideration because the premiums are very low. By locking in a low premium for your child, you can assure that they have affordable life insurance for life.
SBLI has a superior customer support network in place. Claims are easy to file and policy inquiries are answered promptly via telephone or email. Our only complaint concerns the absence of online credit card payment.
SBLI provides straightforward life insurance policies that come unencumbered with dizzying contractual terms and limitations. SBLI offers comprehensive, affordable life insurance that can secure the future well being of your family. While SBLI might not have investment oriented plans, we’re strongly impressed with their no frills take on life insurance.
SBLI provides standard life insurance at fair premiums.
SBLI doesn’t offer the multi-tiered variable life insurance policies that many of their competitors have.
If you’re looking for a life insurance policy that will double as a retirement plan and investment portfolio SBLI may not be the best choice for you.