The new year is here and what better way to kick it off then with a new policy? There are a lot of great life insurance companies out there, and life insurance company reviews help you find the best one out there. This review of SBLI Life Insurance will help you decide if SBLI is right for you!
Review of SBLI Life Insurance Company
SBLI Life Insurance is one of the top life insurance companies in the U.S. . But there is more to SBLI Life than you may know. Below we’ve outlined some of SBLI’s strong and weak points in this SBLI Life Insurance review.
SBLI Life Insurance: Positives
SBLI Life Insurance Ratings
SBLI has been rated by one of the most prestigious rating agencies around: A.M. Best Company.
A.M. Best takes a good hard look at financial institutions such as life insurance companies and rates them on things like financial health, prospect for the future, and so on. So what did A.M. Best think about SBLI?
Well, in the fall of 2015, A.M. Best rated SBLI Life Insurance an A+. This is a superior or top financial rating. As you can imagine, it’s not easy for a life insurance company to get such a high rating, and it really does say a lot about the Company’s quality and financial standing.
SBLI Life Insurance Ratings as of April 2020:
- A.M. Best rating: A
- S&P rating: A-
- Comdex ranking: 76
SBLI has great rates
When looking for life insurance, one thing people usually want is a great rate. And why not? Who wants to pay a lot for a life insurance policy?
SBLI Life Insurance is consistently in the top 10 and many times the top 5 when it comes to price. This is true on a number of their different life insurance policies.
One reason we love SBLI Life Insurance is because they offer some of the most affordable term life insurance rates around.
SBLI Life Insurance Policies
Guaranteed Level Premium Term
This is a new product that SBLI offers, but since May 2016 it’s gained a lot of popularity and attention for being a great accelerated underwriting life insurance product.
- Guaranteed Level Premium Term Snapshot:
Eligibility: 18-60 years old
Term Lengths: 10, 15, 20, 25 and 30
Death Benefits: $100,000-$500,000 with accelerated underwriting
Available in: 48 of 50 states (New York and Montana excluded)
This accelerated underwriting life insurance policy gets so much attention because it has such a high death benefit. It’s not everywhere that you can find innovative underwriting combined with a policy death benefit that goes up to $500,000! If you’re looking for a high death benefit policy that offers the convenience of accelerated underwriting, SBLI is the way to go.
SBLI Term Life Insurance
SBLI’s term life insurance is different than others in that it is actually possible to renew every year. The rate on annual renewable term is based on the insured’s current age. You can also get regular term lengths apart from annual renewable term.
SBLI Whole Life Insurance
SBLI’s whole life insurance policies offer a lot of guarantees: premiums, death benefit, and cash value growth. With SBLI whole life insurance, you also get annual dividends. Of course, like with any permanent life insurance policy, the premiums are higher than a term life insurance policy, but this isn’t unique to SBLI. SBLI Whole Life offers:
- Guaranteed Premiums
- Guaranteed Death Benefit
- Guaranteed Cash Value Growth
- Annual Dividends
SBLI Continuous Payment Whole Life: This offers you coverage until 121 years of age (as long as you continue to pay the premium). Premiums are guaranteed.
SBLI Limited Payment Whole Life: If you want to pay off your life insurance so that you don’t have to worry about it in retirement, then this is the way to do it. You’ll pay for your life insurance policy for 10, 15, or 20 years, but then won’t have to pay premiums after that. Coverage lasts until 121 years old, at which point the company will hand you a check for the death benefit.
SBLI Single Premium Payment Whole Life: If you want to buy life insurance in one go, then you can write a single check and be done with it! This is a good option if you have a good size of money you want to invest in life insurance right away. When you do this, you will pay more in one shot, but less in the long run.
SBLI’s Potential Drawbacks
As you can see by this review, we are fans of SBLI. They’re a great life insurance company and they normally offer awesome rates. The coverage SBLI offers is unique and worth looking into. But, of course there is a drawback to buying SBLI. The biggest drawback of all is that you will be committing to just one life insurance policy.
What does that mean? It basically means you’ll potentially be missing out on what other life insurance companies have to offer. Perhaps they have something better to offer you. Or maybe SBLI really is the way to go. How do you know?
Well, one thing we can guarantee: you won’t know who the best life insurance company for you is by simply reading a review article (this one or any other!). The reason why is because the answer of “who is the best life insurance company” really does change from person to person. This isn’t because people have different opinions; it’s because people have different needs and different life insurance companies and policies accommodate those needs differently.
We can help.
We are experts in the life insurance industry with years of experience. We know the ins and outs of SBLI and dozens of other life insurance companies. As a result, we’re well positioned to help you make the best life insurance decision. We will get to know you and your needs and make a customized recommendation.
Want to find the best life insurance policy for you? Call us today.