Extends insurer’s 112-year commitment to focusing on what consumers want
October 03, 2019 — WOBURN, Mass.–(BUSINESS WIRE)–SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has introduced an online application that enables shoppers to apply for term life insurance twenty-four hours a day without having to speak with an SBLI sales agent. Embedded in SBLI.com, the online application (apply.sbli.com) extends the company’s 112-year history of providing straightforward, low-cost family protection, this time to consumers who prefer to engage with SBLI online.
With the launch of the online application, consumers now have more choice in how they purchase SBLI life insurance — through its many partners, on the phone with an SBLI life insurance professional, or online.
SBLI was conceived by future U.S. Supreme Court Justice Louis D. Brandeis and established in Massachusetts in 1907 as a means of providing life insurance that would be accessible, safe and affordable to the average person. SBLI’s online application is consistent with the company’s historical mission; it allows consumers to obtain high-quality coverage from an A-rated carrier whenever – and wherever – they want.
A Preference For Online Access
“Studies show that an increasing number of consumers, who are accustomed to shopping for most any other product online, also prefer to purchase their life insurance via the Internet,” said James Morgan, President and CEO of SBLI. “With our new online application, SBLI is continuing its legacy of responsiveness to our customers’ preferences with a site that is fast, easy and user-friendly.”
The application at SBLI.com, accessible on any digital device, can be completed in less than 10 minutes with no interaction with an agent (assistance from an agent is available if desired, during normal business hours).
Policies are available through the online application at SBLI.com at the same premium rates as those obtained through an SBLI agent or a traditional application, and for the same terms (10, 15, 20, 25, and 30 years) and face amounts ($100,000 to $50 million).
For policies with a face amount of $500,000 or less, applications will be processed via SBLI’s accelerated underwriting program in which no medical exam is required. A brief follow-up call will confirm the information provided within the application and an underwriting decision will typically be made in five days or less.