SBLI Accelerated Underwriting Term Life Insurance Review
Fully underwritten life insurance can take months for approval in many cases. SBLI has created one of the strongest accelerated underwriting term life insurance products on the market today. SBLI’s accelerated underwriting term life insurance product offers a simple application process which is fully underwritten but offers quick approval time and rates that are competitive. If you are looking for life insurance coverage of $500,000 or less and you want a simple application process, you really need to give serious consideration to SBLI’s accelerated underwriting term life insurance. Here is our SBLI accelerated underwriting term life insurance review.
Is SBLI a Good Company?
SBLI (The Savings Bank Life Insurance Company of Massachusetts) has been around since 1907. The company offers term life insurance, whole life insurance, universal life insurance (on term policy conversion only) and annuities. The company is A rated by A.M. Best, which is considered “Excellent” by the ratings company. You should have full confidence that SBLI will be able to pay its obligations. SBLI markets itself as the “No Nonsense Life Insurance Company” because they make the purchase process easier by explaining life insurance in terms that are easy for consumers to understand. SBLI has always offered some of the most competitive rates for life insurance in the country. SBLI made our Top 10 List of Best Life Insurance Companies.
Key Points About SBLI’s Faster and More Convenient Accelerated Underwriting Process
- Available to those aged 18-60
- Coverage amounts of $100,000 to $500,000
- 10, 15, 20, 25 and 30 year term durations
- Simple application process with no invasive in-home visit
- Competitively priced
- Typically issued faster than other fully underwritten term life insurance
- Available in all states except NY and MT
How Do You Apply for SBLI’s Accelerated Underwriting Term Life Insurance?
The application process for SBLI’s accelerated underwriting term life insurance is simple. Your agent will help you determine the amount and duration of your coverage as well as your health class to provide a quote. Once you choose your product and health class, you will answer a few basic questions to start the application process such as name, address, phone number, social security number and other contact details. Your agent will submit this information.
Once the information has been submitted, you will be contacted by our fulfillment center to fill out the rest of the application, which consists of some basic personal and health questions. SBLI’s Accelerated Underwriting process is typically faster than other fully underwritten term life insurance because the entire application can be completed over the phone. The process takes about 20-30 minutes in most cases. This part of the application asks about your beneficiaries, your occupation, reason for insurance, other life insurance in force and other lifestyle questions (tobacco use, criminal record, dangerous hobbies). You will also be asked some health and medical questions as well. Once completed you will sign the application by either voice or electronic signature.
Once you have completed the interview with our fulfillment center, your application will be reviewed by SBLI for an underwriting decision. In some cases, SBLI may request your medical records. This is usually reserved for applicants who have moderate health issues. Otherwise, SBLI’s underwriters will review your application and make a decision on your application.
How Much Does SBLI’s Accelerated Underwriting Term Life Insurance Cost?
In addition to its easy application process, SBLI’s accelerated underwriting term life insurance product also offers competitive rates when compared to other fully underwritten term life insurance. Here are some sample monthly rates for male and female applicants who qualify for ‘Preferred’ health class ratings. These are sample rates only, your rate may differ.
Sample ‘Preferred’ Male Rates
- A 35-year-old male would pay $45.89 for $500,000 of coverage for 30 years.
- A 40-year-old male would pay $42.33 for $500,000 of coverage for 20 years.
- A 50-year-old male would pay $58.25 for $500,000 of coverage for 10 years.
Sample ‘Preferred’ Female Rates
- A 35-year-old female would pay $39.15 for $500,000 of coverage for 30 years.
- A 40-year-old female would pay $35.16 for $500,000 of coverage for 20 years.
- A 50-year-old female would pay $47.49 for $500,000 of coverage for 10 years.
If you would like a quote for your specific age and health class, use our quoting tool and look for SBLI on our list. You will see that SBLI’s rates are competitive when compared to other top companies.
Why You Need to Consider SBLI’s Accelerated Underwriting Term Life Insurance
If you need up to $500,000 of life insurance you really need to consider SBLI’s accelerated underwriting term life insurance. SBLI’s rates are very competitive when compared to other fully underwritten coverage. SBLI also offers approval times within a week of application submission in many cases. If you want to learn more about SBLI’s accelerated underwriting term life insurance or if you are ready to fill out an application, give us a call. We would be happy give you a no obligation consultation.
About Us
Archstone Insurance Services, LLC is an independent agency that shops over 40 of the top life insurance carriers to provide huge savings on life insurance coverage for our clients. We are happy to answer any questions you might have about any of the insurance products we offer, your planning needs or your existing coverage. Feel free to call us directly at (888) 687-9444 or email us at info@archstoneagency.com.
