Review of Savings Bank Life Insurance

$300,000 Term Life Insurance Quotes for Male Aged 33

Top 4 Companies                        20 Year Term
Monthly                    Annual    
SBLI                                    $14.88                      $171.00
Banner                                $15.40                      $176.00
American National            $16.59                      $192.00
American General            $17.64                       $196.00

(Disclaimer – the above quotes are good as of February 8, 2013)

As you can see from the above results, SBLI was the number 1 ranked life insurance company when it comes to the cheapest premiums for term life insurance for this particular type of policy.

Underwriting Comparisons with Other Life Insurance Companies

Upon reviewing the underwriting comparisons between Savings Bank Life Insurance and how well the medical requirements compared with other companies, I am of the opinion that SBLI has more restrictive medical underwriting requirements when compared to other companies.

This is probably why its term insurance policies are much more affordable than other companies. The conclusion would be that this is an ideal company to apply for affordable term insurance if you are young and in good health.

However, if you’re older or have health conditions such as heart disease or cancer, than this might not be the best company to consider when buying a term life policy.

Complaint Reviews Against Savings Bank Life Insurance Company

Every life insurance company has had complaints made against it and this company is no exception. One of the best ways to determine how well a company deals with its complaints is to see how it rates with the BBB (Better Business Bureau). The rating provided by the BBB for this company is A+. This suggests that the company has received few complaints, and has dealt with any complaints received in a proactive fashion

Bottom Line

Savings Bank Life Insurance Company is a financially sound and established company. It has some of the most competitive term life insurance rates available. However, its one drawback is that it is more stringent when it comes to underwriting and is friendlier in issuing policies to younger and healthy applicants.