Fast and easy service, they made me feel comfortable about my choice of life insurance.

—Hayley

Term life insurance

When most people think of life insurance, what usually comes to mind is term life insurance. Term life insurance provides financial protection for a fixed amount of time – from 10 to 30 years¹ – at a consistent cost throughout the term length. Generally, term life insurance is the most affordable type of life insurance. Additionally, if you need coverage for a longer period, you have the option to convert your term policy into whole life insurance.

Whole life insurance

As the name suggests, whole life insurance, is guaranteed to remain in force your entire life, and your premiums are guaranteed to never increase. Additionally, whole life can work as a savings vehicle, allowing you to build up a cash value that you can borrow from during your lifetime.² Because of these additional features, whole life insurance is generally more expensive than term life insurance.

Simple term life insurance

SBLI Simple Term Life Insurance offers quick and easy online coverage for individuals aged 18-55 in good health. Without requiring a medical exam, applicants answer a few questions to receive instant coverage. Policy options include coverage amounts up to $1,000,000 and term lengths of 10, 15, or 20 years³, with consistent payments throughout the term. This streamlined approach ensures immediate protection for loved ones.

Good to know, all SBLI insurance policies include a LegacyShield subscription to help manage and protect your legacy⁴.

The 5 questions you should ask when buying life insurance

How they can work together

Combining different types of insurance policies can offer a balanced approach to financial security, ensuring comprehensive coverage for various life stages and needs. By blending term and permanent life insurance, you can benefit from the affordability of term policies and the long-term stability of permanent ones. This strategy provides flexibility, allowing you to adjust coverage as your circumstances change.

Which type of life insurance is right for you?

Every situation is unique and choosing the right insurance type(s) is crucial. The easiest way to find the best fit? Speak or chat with a one of our Life Insurance Professionals at the SBLI Life Insurance Solutions Center for personalized guidance in a stress-free environment.

See what our customers are saying

¹Not all term lengths are available to all applicants. The term lengths available to you are determined by your age when you apply.

² Withdrawals are subject to ordinary income tax and, if taken prior to age 59 ½, a 10% federal penalty.

³ Not all term lengths are available to all applicants. The term lengths available to you are determined by your age when you apply.

⁴ SBLI has partnered with LegacyShield to provide certain products at no cost. Additional LegacyShield products may also be available for purchase. Your relationship or agreements with LegacyShield are separate from your relationship or agreements with SBLI. The kits you may be receiving access to through LegacyShield are not intended to be legal, tax, or investment advice. You should consult your own legal, tax, or investment advisor regarding your personal situation. Products or Services offered under LegacyShield are not insurance and are subject to change. For more information, please contact SBLI at www.sbli.com or via telephone at 800-694-7254. LegacyShield is a subsidiary of SBLI. (7/24)

 

24-4212