SBLI is clearly a leader in the term marketplace and until recently sold life insurance through their bank distribution. At present, SBLI just lowered their rates, placing them as one of the top three term rate providers in the marketplace.
Along with the newly adjusted rates, a few transition rules have been put in place:
§ New Rate Quote available May 8, 2006
§ New rates for Policy Issues Effective June 5, 2006
§ Applications with a signature date of May 8, 2006 or greater will continue to be underwritten but will be held for issue until June 5, 2006. Policy(ies) will have an issue date of June 5, 2006. If a customer does not want to hold policy issue to receive the new rates, please indicate so in the “special request” box on the application. Old rates will apply.
§ Applications signed May 8, 2006 or later and request a “back date to save age” prior to issue effective date of June 6, 2006 will receive old rates.
§ All policies that have a signature date prior to May 8, 2006 and are ready to issue; will be issued up thru June 2, 2006 and receive old rates (pre June 5, 2006)
|
$500,000 Coverage |
|
Annual Premiums on 20-Year Level Term Policy, Preferred Plus, Male, Non-Nicotine User |
|
Age 30 |
Age 35 |
Age 40 |
Age 45 |
| SBLI of Massachusetts |
$255 |
$255 |
$355 |
$625 |
| First Colony |
$285 |
$285 |
$380 |
$665 |
| Banner |
$265 |
$265 |
$365 |
$650 |
| West Coast |
$265 |
$265 |
$365 |
$650 |
| AIG |
$280 |
$290 |
$395 |
$700 |
| Lincoln |
$295 |
$295 |
$390 |
$675 |
Most importantly, you will come to recognize that SBLI is dedicated to offering both industry leading term pricing and quality service.
