The Savings Bank Life Insurance Company (SBLI)

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It’s often said many things are born of necessity, and SBLI was born of an idea that things had to be differently in the world of life insurance, where current offerings were unjustly high. When the rock was pulled away on the competition, Savings Bank Life Insurance of Massachusetts was formed to beat the status quo.

Our Review of Savings Bank Life Insurance Company (SBLI)

1907 was a tough year for many Americans, and it was no different for the entire economy as the stock market tumbled leaving many retracing their steps and losing much of what was gained. Louis Brandeis found the life insurance industry to have inflated rates in the past, and formed the company in order to make things right by offering fair, affordable products.

With a value minded strategy and a cause of helping people, the company grew to in excess of $100 million of active policies in 23 short years, and $100 million in assets by the early fifties. It compounded its growth over the next 10 years, breaking the threshold of $1 billion of active insurance, all while remaining in the state of Massachusetts.

Today, it operates in all 48 of the land locked states, as well as D.C. and has breached the $125 billion mark of active life insurance.

Strong and Secure

Size isn’t all that matters for large insurance companies, so consumers often look to independent rating institutions like A.M. Best, Standard & Poor’s and others to see how solvent the insurance company is, as well as what their outlook is to the future. A.M. Best rated SBLI as an “A” most recently, and Standard & Poor’s gave them an “A-” vouching for their strength and security.

This matters greatly for the company and its growth, not only for direct trust from the consumers who keep a watchful eye, but for the agents and agencies across America who offer “A” rated or better companies to their clients. They even hold a Better Business Bureau rating of “A+“, a top tier score and are repeatedly listed as one of the best individual life insurance companies for term and universal life.

SBLI Product Selection

One of Savings Bank Life Insurance’s strongest selling products from its array of options is its guaranteed level term life insurance plan. It’s a level policy for as long as the consumer chooses, up to 30 years. The benefit stays level, as does the premium, which is usually very comparable among the highly competitive industry. This product and its value pricing makes SBLI one of the best life insurance companies for term coverage.

If a term solution isn’t right for you, there are also others available, including a very short duration term which renews annually if you choose to do so, and a whole life policy which is the opposite. It spans your entire life, has cash growth within the policy, and your premiums stay level for as long as you maintain them. Let’s break down all of these types from SBLI.


The Level Term series from Savings Bank Life Insurance Company (SBLI) comes in 10, 15, 20, 25 and 30 year level periods, which is selected at the time of application. For example, the Level Term 20 would last 20 years at one premium rate, then increase annually thereafter.

With a minimum of $100,000 and a maximum of $30,000,000 (only $20,000,000 in some states) and a maximum issue age of 74, there is virtually any combination of basic term life insurance for any type of need. Ratings are separated for smokers and non-smokers, and range from Preferred Plus (best rating) down to table rated policies (for those with high risk needs).

The Accelerated Death Benefit rider is free of charge for all applicants where it can be applied, and additional riders are made available for those looking to protect their Children, as well, and for those who want to protect their policy from non-payment during disability.

For those who need very short term coverage only, SBLI does have an annual renewable term policy, which, while it may be the most affordable option in the first few years, does increase in cost each year.


Anyone who desires to obtain a more permanent solution can utilize a Whole Life policy from SBLI. These are permanent coverage plans, where the death benefit is guaranteed and the premiums never change for as long as you live or keep the policy.

As with most whole life choices, the SBLI Whole Life offers a cash value component within the contract, allowing for loans after the first year for whatever reason you choose. With not only a guaranteed minimum interest rate, you’ll also enjoy the potential for additional growth through dividends, when they’re offered. Riders are also available, some at an additional cost.

Finally, SBLI does offer a Whole Life for Children, as well. They range from $10,000 up to $1,000,000, and are offered from as young as 15 days old and up to the age of 14.

Accelerated Life Insurance Approvals

One of the newest members of the accelerated underwriting life insurance companies to enter the market in 2016 was SBLI.

The Savings Bank Life Insurance Company of Massachusetts now offers its exclusive accelerated underwritten policy through its Accelerated Underwriting Program (not currently available in NY/MT). Here are the details:

  • Issued from age 18 up to age 60
  • Death benefit ranging from $100,000 up to $500,000
  • Durations available from 10, 15, 20, 25 and 30 years
  • All ratings classes are currently available

The main difference between SBLI’s Accelerated Underwriting life insurance and their traditional Level Term is the lack of an in person visit at home, though you’ll still be required to give consent to information regarding your prescription use, MIB (Medical Information Bureau) and MVR (Motor Vehicle Records) history, and also a review of any available public data from the FCRA (Fair Credit Reporting Agency).

These are, of course, in addition to a fully completed application of insurance.

The process of applying can be completed entirely over the phone, and the speed of issuing coverage should be faster than a couple other providers. SBLI does reserve the right to request additional underwriting information if they don’t feel they have adequate data to make an offer of insurance.

Helping Others

SBLI wouldn’t be complete with its founder’s wishes if it weren’t contributing back to the community, and SBLI does just that. With aid going to children through the Rodman Ride for Kids, education assistance to the New England Center for Children, resources being provided to the American Heart Association and many others, SBLI takes aim to be a success in business, and in personal lives across America.

Our Opinion

SBLI has been doing an excellent job bringing top notch term life insurance to the table in recent years. With their recent addition of an accelerated underwriting option, they’re making a heeded effort to keep up with the times and not become outdated.

They are also a long standing, financially stable company who has a great history and outstanding level of customer service. With very competitive premiums, they may be an excellent choice for you.

The Savings Bank Life Insurance Company (SBLI)

(781) 938-3500
One Linscott Road
Woburn, MA 01801

Company Name (and subsidiaries)

  • Savings Bank Life Insurance Company
  • The No Nonsense Life Insurance Company
  • The Savings Bank Mutual Life Insurance Company of Massachusetts
  • SBLI USA Life Insurance Company


Jason Fisher

Jason Fisher is the founder and CEO of, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.