Is SBLI a Good Insurance Company?
Over 100 Carriers to Quote From. Here are a few of them!
Is SBLI a good insurance company? At Diversified Insurance Brokers, we work with over 100 top-rated carriers to help retirees, pre-retirees, and families secure the right financial solutions for their needs. The Savings Bank Life Insurance Company of Massachusetts (SBLI) has been providing dependable life insurance coverage since 1907. Known for its straightforward policies, competitive pricing, and strong financial stability, SBLI specializes in offering affordable term and whole life insurance, along with annuity products designed for safe accumulation and income security.
Compare SBLI Annuity Rates or Request a Quote
See your guaranteed lifetime income options and get personalized annuity illustrations from SBLI.
Get SBLI Life Insurance Quotes
Compare life insurance rates instantly and find the right coverage for your needs.
About SBLI
SBLI has built its reputation on offering affordable, easy-to-understand insurance policies without unnecessary complexity. The company’s mutual ownership structure means it operates for the benefit of policyholders rather than shareholders. With consistently strong financial ratings, SBLI has earned the trust of families seeking both protection and value.
Popular SBLI Products
- Term Life Insurance: Affordable, straightforward coverage for families and individuals.
- Whole Life Insurance: Lifetime protection with cash value growth.
- Annuities: Fixed products designed for safe growth and predictable income in retirement.
Who SBLI Is a Good Fit For
- Families looking for affordable term life coverage
- Individuals seeking permanent life insurance with cash value
- Retirees wanting safe, fixed annuity growth
- Those who value a mutual company structure focused on policyholders
Pros of SBLI
- Over 115 years of financial stability
- Highly competitive life insurance rates
- Simple, straightforward policy options
- Strong customer service reputation
Considerations
- More limited product selection compared to larger carriers
- Fewer investment-focused annuity options
Our Take
At Diversified Insurance Brokers, we consider SBLI an excellent choice for individuals and families seeking affordable, dependable life insurance coverage. With a mutual company structure, strong financial backing, and straightforward product offerings, SBLI remains a trustworthy option for protecting loved ones and ensuring financial security. Whether you need term life, whole life, or a safe fixed annuity, SBLI provides reliable solutions backed by over a century of experience.
FAQs: Is SBLI a Good Insurance Company?
What are SBLI’s financial strength ratings?
SBLI holds an “A (Excellent)” rating from AM Best and an “A-” (Strong) rating from Standard & Poor’s. It has maintained the A- rating from S&P for many years.
How long has SBLI been in business and where is it licensed?
SBLI was founded in 1907 and is based in Woburn, Massachusetts. It is licensed in 49 states and Washington, D.C. (excluding New York).
What types of products does SBLI offer?
SBLI offers term life, whole life, simple term life, and final expense life insurance. They also offer features such as accelerated underwriting and some conversion options.
How is SBLI’s reputation among customers?
SBLI has a generally positive reputation: it has an A+ rating from the Better Business Bureau, with relatively few complaints over several years. On Trustpilot, it has a 4/5 score from many reviews. Some complaints relate to communication and policy servicing.
What are SBLI’s strengths?
Strengths include strong financial ratings, mutual company structure (policyholder-owned), long history, competitive pricing for term policies, and tools like LegacyShield.
What are some potential drawbacks or limitations?
Some limitations include limited availability of universal life or more specialized rider options, policy offerings that vary by state, and occasional customer feedback about delays or unclear communication.
