We earn a commission from brands listed on this site. This influences the order and manner in which these listings are presented.
BestMoney logo

SBLI Life Insurance Review 2024

Reviews 1,655
Visit Site
Reviews 1,655
Katy Ward
Apr. 17, 2024
3 min read
Katy Ward
SBLI Summary
Founded in 1907, SBLI offers an impressive selection of life insurance policies with highly customizable features. You can apply for coverage of up to $10 million for terms of 10 to 30 years. In addition to being accredited by the Better Business Bureau, SBLI has excellent ratings on Trustpilot.


  • Customize coverage to suit your needs
  • Excellent Trustpilot scores


  • 24/7 customer support not available
  • Medical exam on some policy types

SBLI at a glance

Editorial score

Coverage type

Offers both term and whole life insurance, often with no medical exams required.

Customization of policies

Customizable rates and deductibles, upgrades and downgrades available, decide whether to buy with an agent or buy online

Customer services and support

Multiple communication options and a dedicated agent

Online experience

Site is easy to use, but doesn't display all relevant information

Direct insurer?

Yes, direct insurer

SBLI SBLI Visit Site

Who Can Benefit From SBLI?

With a wide range of term policies, SBLI offers a suitable plan for almost every customer type. That said, its customizable features could make it especially attractive if you’re looking for coverage tailored to your circumstances or believe your insurance needs could change over time.

The company could also be an excellent choice if you prefer to manage your finances online. Its digital account allows you to report claims, make payments, and download forms from a single location. SBLI also offers a free subscription to LegacyShield when you buy a policy. This digital platform allows you to store all your financial documents in one place, including wills and advanced wishes documents. 


Term plans offer coverage for a set time period and will pay out if you pass away during the lifetime of your policy. So you may want to consider this type of coverage if you need to meet certain expenses within a set timeframe, such as paying off a mortgage.

Although the precise features of your coverage will depend on your policy type, some key highlights include:

  • Terms of 10 to 30 years

  • Payouts of $100,000 to $10 million

  • Online account management 

  • Ability to adjust/reduce coverage

  • Option to keep coverage until the age of 85 (premiums may increase once beyond the original term of the policy)

  • Option to convert into whole life plan at any time during the term with no additional underwriting

All term policies also automatically include an accelerated death benefit. This coverage pays up to $250,000 if you’re diagnosed with a terminal illness that will result in death within the next 12 months.

Application Process

If you’d like to apply for insurance through SBL, you can do so fully online or with the help of an agent. The exact application process will depend on the policy type you choose. If you opt for a Simple Term policy, you can apply online and receive instant coverage. 

With a Term policy, you may also need to take part in a medical exam either over the phone or in person. SBLI may also request a copy of your medical records, which means the speed at which you receive a decision can vary.

As part of the process, you’ll also need to provide information such as:

  • Your desired coverage amount

  • Your chosen policy term

  • Details of criminal convictions

  • Details of military service

  • Tobacco use

  • Your driving history

  • Details of any bankruptcies

  • Information on any extreme sports you participate in

  • Your medical history 

Policy Types and Terms

SBLI offers three types of term insurance: Simple Term, Term, and SmartTerm 360. While Simple Term policies require less information than Term plans, premiums tend to be slightly higher than on standard Term plans.

Simple Term

  • Online application 

  • Available to those aged 18 to 55

  • Medical exam not required

  • Coverage of up to $1,000,000 for ages 18 to 50

  • Coverage of up to $50,000 for ages 50 to 55

  • Terms of 10, 15, and 20 years

  • Fixed payments during policy term


  • Available to those 18 to 74

  • May require a medical exam, though some qualify for Accelerated Underwriting and no medical exam

  • Coverage of $100,000 to $10 million

  • Terms of 10, 15, 20, 25, and 30 years

Optional add-ons

If you choose a Term plan, you can also add the following riders to your coverage.

Children’s level-term rider: Covers natural and adopted children who are unmarried and financially dependent on you.
Accidental death benefit: Pays out if you pass away within 180 days as the result of an accident.
Waiver of premium: Waives premium payments if you suffer a disability that leaves you unable to work.

How Safe Is It? 

When you’re entering significant amounts of personal data, it’s natural to feel concerned about the security of a potential provider. You’ll be reassured to learn that SBLI takes a number of steps to protect your information and has a strong reputation within the industry.

In terms of cybersecurity, the company uses SSL encryption on its website, which establishes a secure connection between its servers and your personal device. Encryption levels are 128-bit to 256-bit, which is the industry standard for banking and insurance companies.

Financial stability

SBLI has strong ratings with the major credit referencing agencies, which assess the financial stability of a business. At the time of writing, it has an A rating from AM Best and A- from Standard & Poor’s. 

Likewise, I was pleased to see that the company has an excellent rating on Trustpilot and is accredited by the Better Business Bureau.

Help & Support

You can contact SBLI by phone, live chat, or email. Support hours are Monday-Friday, 8am-5pm (ET).

Alternatively, you can arrange a face-to-face appointment in one of the company’s offices. Appointments are available 8.30am-4pm (ET), Monday-Thursday, and 8.30am-12pm, Friday.

When I contacted the insurer over live chat, I was connected to a very helpful agent in under a minute who answered all my questions in detail.

If your query is more general, you may be able to find the information in the wide selection of FAQs on SBLI’s website. Overall, these are extremely thorough and free from off-putting jargon language.

The company’s online coverage calculator is another useful tool. When you enter information such as your age, debt levels, and income, it can help you determine the amount of insurance you may need.

Bottom Line

With more than 115 years’ experience, SBLI has a lot to offer if you’re looking for term life insurance. As well as providing fully online applications on some plans, the company offers a range of customizable policies. Thus, it could be a great choice if you believe your life insurance needs may evolve alongside your personal and financial commitments.

Physical Address

1 Linscott Road

Woburn, MA 01801

Katy Ward
Written by
Katy Ward
Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance for Eleven Writing and Top10. Over a 15-year career, Katy has worked with several finance titans, including Barclays, Tandem Bank, and Yahoo! Finance. She enjoys identifying complex financial trends that make for interesting article topics.
Top Life Insurance
Read Review|Visit Site
Read all reviews

Must Reads

I’m In My 20s or 30s. Do I Need Life Insurance?
May. 19, 2024
Unique Life Insurance Perks
May. 19, 2024
What Senior Citizens Should Consider When Choosing a Life Insurance Provider
May. 19, 2024
Read all articles
Trustpilot reviews
See what some customers are saying about SBLI
Great • Reviews 1,655
We upload 100 to 400 Trustpilot reviews to our website daily, displaying them by default from "best" to "worst". You have the option to adjust the sorting criteria. If you wish to see all reviews, you can visit Trustpilot's website here.
Sort by