|
SBLI
|
|
Providing life insurance since 1907 |
|
See What
SBLI And Our Insurance Brokerage System Has To Offer!
Find agent contracting
forms here
A History of Growth
In 1907 Louis D. Brandeis, a
prominent Boston attorney, recognized a need for low cost life
insurance. His idea was to have savings banks in Massachusetts offer
life insurance, and he established the savings bank life insurance
system to accomplish this objective. Today, we still sell life
insurance through many banks. However, we have also been selling our
products directly to the consumer for over ten years now. Most
importantly, we have never wavered from our dedication in providing
safe, low cost life insurance for our policyholders.
- 1907 -- SBLI
was established
- 1930 -- $100
million of life insurance in force
- 1953 --
Assets reached $100 million
- 1964 -- $1
billion of life insurance in force
- 1998 -- Over
$20 billion in force
- 2000 --
Assets passed $1.3 billion
- 2003 -- Over
$50 billion in force
- 2004 --
Annuity consideration grew to $55M
- 2005 --
Record sales results achieved; $9.7 billion in New Ordinary Life
Issued.
- 2006 --
Company record set for first year premium.
- 2007 --
Exceeded $2 billion in total assets for the first time.
- 2008 --
Expanded coverage into 24 states and the District of Columbia.
Sbli needs
SBLI Insurance
Brokerage Term Life Insurance
Product Comparison Chart
|
Guaranteed
Level
Premium Term |
Yearly
Renewable Term |
Coverage |
To age 85. |
To age 75. But extends
coverage on a decreasing term basis from age 75 through 90. |
Amounts
Available |
$100K to max. $10MM.
$500K max for ages 70 - 74. |
$25K to $10MM. (Note:
Coverage amounts from $25,000 to $99,999 are available only
for Standard Non-Nicotine and Standard Nicotine classes.) |
Ages
Available |
20 to 74 years for
Non-Nicotine.
20 to 70 years for Nicotine. |
20 to 65 years. |
Riders
Available |
Waiver of Premium (not
available in NC or TN).
Children's Rider (not available in AR, CA, FL, GA, HI, IA,
IL, IN, KS, KY, LA, MD, MO, NV, OH, OK, SC, TX, VT, or WI). |
Waiver of Premium (not
available in NC or TN).
Children's Rider (not available in AR, CA, FL, GA, HI, IA,
IL, IN, KS, KY, LA, MD, MO, NV, OH, OK, SC, TX, VT, or WI). |
Convertible |
This policy may be
converted to a level premium whole life policy on any
premiums due date which is the earlier of age 70 or end of
the Level Term period. |
To any level premium
whole life plan offered by SBLI, to age 65. |
Premium
Payment Options |
Annual, semiannual,
quarterly, and monthly (EFTs only). |
Annual, semiannual,
quarterly, and monthly (EFTs only). |
Free Look
Period |
30 days. |
30 days. |
Guaranteed Level Premium Term Life
Insurance
As the name implies, this type of
term life insurance has premiums that remain level (fixed for a
period of time). The price you pay will never go up or down during
this period! Your premium is based on your age at the time you
purchase the policy and it does not change during the guaranteed
premium period. It functions exactly as we described above, and can
cover you until you reach 85 years of age. Keep in mind after the
guaranteed level premium period that you choose ends, the premium
will go up until age 85 when the policy ends.
SBLI offers the following
guaranteed level premium term life insurance options:
-
Guaranteed Level Premium duration choices: 10, 15, 20, 25, or 30
years
- Policy
amount available: from $100,000 to $10 million ($500,000 maximum
coverage for ages 70-74)
At the earlier of age 70 or at the
end of the guaranteed level premium period, you can convert your
level term life insurance policy to an SBLI whole life insurance
policy, without having a paramedic exam or providing additional
proof of insurability. Your coverage amount will be for a face
amount not greater than the face amount of your existing guaranteed
level premium term life insurance policy.
Yearly Renewable Term Life Insurance
As the name implies, this type of
term life insurance renews every year. Each year, the premium you
pay will be calculated based on your current age. It is very
inexpensive in the early years and then increases as you get older.
The plan will automatically renew every year until you reach the age
of 90 and you will not be required to have a paramedic exam or
provide proof of insurability each year. The term life insurance
premium may increase annually.
If you need coverage from age 75
to 90, you are able to continue the plan with a fixed term life
insurance premium, but your coverage amount will decrease annually.
At any time up until you reach the
age of 65, you can convert your yearly renewable term life insurance
policy to an SBLI whole life insurance policy, without having a
paramedic exam or providing additional proof of insurability. Your
coverage amount will be for a face amount not greater than the face
amount of your existing yearly renewable term life insurance policy.
|
|
SBLI (Savings Bank Life
Insurance Co of Mass) |
Address1 |
1 Linscott Road |
Address2 |
- |
City |
Woburn |
State |
MA |
Zip |
01888 |
Phone Number |
- |
Fax Number |
- |
WebPage |
www.sbliagent.com |
|
|
Start Here!!
Get The Best Term Life Quote
For Your Client-
Insurance Brokerage provides you with the latest technology to
search for the best term life insurance quote for your client-
Our brokerage spreadsheet quoting system allows you to
examine "by underwriting class" all of our top companies as they apply to your
specific client needs.
Download top company life insurance quotes
-
Get appointed with the
company that best suits your clients needs-
Get a state specific term
life insurance application-
Insurance brokerage affords the agent an easy way to access all of the forms for all of our companies.
Request
state specific brokerage life application forms-
Mail completed forms to -
Insurance Brokerage America
National Marketing P.O. Box 30248
Charleston, SC 29417 800-406-6303
843-769-9804 fax
Product Information Tools
Carrier Profiles
And Links
Products Information
Permanent Products
Information
Underwriting
Requirements
Capital Needs Analysis
Calculator
A Tale Of Two Agents
Captive Agent
An agent working exclusively for a single
firm. He or she is obliged to submit business only to that firm,
or at least give that firm first rights of refusal on the case.
Captive agents that are non-established are usually paid on a
combination of salary and commissions earned from selling the
policy contract. Also, the firm usually provides its captive
agents with an allowance for office expenses as well as employee
benefits such as pensions, life insurance, and health insurance.
The established captive agent is usually paid
exclusively on a commission basis. This type of agent will
tend to have more in-depth knowledge of that firm's policies,
however, he or she will hardly ever be equipped to offer the
industries' best price on any particular product offering.
Independent Agent Broker
Simply said, independent agents are
appointed to sell policies from many insurers. The agent is
independent from all insurers thus, the independent agent's
responsibility is solely focused on evaluating the client's
needs and the pricing of the product chosen.
While searching for the brokerage market's best place for a
client's business, independent agents pay all their own expenses
and keep their own records and earn their income from brokerage
commissions on the policies they sell.
|