SBLI No Medical Exam Review


Quick Summary: SBLI has become one of our top no exam companies and is very popular with clients. Up to $500,000, they are not charging any extra for non-med policies, making it an easy decision. Approval time is fast. Must be in relatively good health to qualify. All health classes available.


Skip the Exam

See our in-depth guide about life insurance without the medical exam. Compare more than 20 of the top companies and policies. Find out which is right for you today.

About the Company

SBLI no medical exam life insurance company logo
Insert Image
SBLI no medical exam life insurance company logo

"The No Nonsense Insurance Company" has been around since 1907 as Savings Bank Life Insurance, normally referred to as SBLI.

SBLI receives a "A" rating from AM Best and an "A-" from Standard and Poor's. These ratings reflect the financial security of the company and positive outlook going forward.

At $128 billion in active life insurance policies in force, SBLI knows what they are doing and is a name you can trust. They are routinely praised for having excellent customer service.

About the Policy

Product Name

Guaranteed Level Premium Term

Coverage

$100,000 to $500,000

ISSUE AGE

18 to 60

TERM LENGTH

10,15, 20, 25, 30 years

Product Name

Guaranteed Level Premium Term

COVERAGE

$100,000 to $500,000

ISSUE AGE

18 to 60

TeRM LENGTH

10, 15, 20, 25, 30 years

Underwriting Process

SBLI will look at several sources of information available electronically including:

  • Motor Vehicle Report 
  • Fair Credit Reporting Agency
  • Prescription Database
  • Medical Information Bureau

The MIB (Medical Information Bureau) is a database shared among insurance companies. Here they can see information about your health from past applications as well as previous approvals and denials.

Bottom line: If you were denied previously for life insurance or have a health condition listed, it will be discovered even though you aren't taking a paramedical exam.

Medical Questionaire

On the application, expect the normal questions pertaining to your medical history and lifestyle:

SBLI no exam underwriting
  • Age
  • Gender
  • Height and weight
  • Smoking and tobacco history
  • Drug and alcohol use/history
  • Occupation
  • Income level
  • Dangerous hobbies

Decision Time

SBLI no exam underwriting
  • Age
  • Gender
  • Height and weight
  • Smoking and tobacco history
  • Drug and alcohol use/history
  • Occupation
  • Income level
  • Dangerous hobbies

Decision Time

SBLI is efficient and has most decisions within 5-10 days. If medical records are requested, it could be several weeks. Some of this depends on your doctor's office who is sending the records.

Pros

Low premiums. Under $500,000 it's the same as their regular term insurance.

All health classes available. One of the only no exam companies that offers this.

$500,000 maximum death benefit is among the highest in the industry for no exam coverage.

Cons

Maximum issue age of 60 years old is on the low side.

Extras and Options

SBLI includes the Accelerated Death Benefits Rider in this policy at no extra charge. This provides the option to access a portion of the benefits while still living if the insured is diagnosed with a terminal illness.

For a little extra money, SBLI gives you the option to add a couple riders to customize your policy:

  • Children's Level Term Rider
  • Waiver of Premium

 SBLI allows for conversion to one of their permanent policies up to age 70 or at the end of the level term period, whichever comes first. You do not need to proof your health at time of conversion. As long as your policy is active and paid up, you may exercise this right.

Cost

SBLI's no exam coverage under $500,000 death benefit has some of the lowest pricing in the industry. 

Sample Non-med Term Rates - SBLI 

42 year old male at Standard Plus health class - pricing listed is per month

Death Benefit

10 Year

20 Year

30 Year

$150,000

$19

$30

$46

$350,000

$33

$49

$82

$500,000

$40

$65

$111

39 year old female at Standard Plus health class - pricing listed is per month

Death Benefit

10 Year

20 Year

30 Year

$150,000

$15

$22

$30

$350,000

$24

$35

$50

$500,000

$27

$43

$66

Use our quoting tool to see the rate you'll pay for an SBLI policy without the exam 

How to Find the Right No Exam Policy

SBLI is one of our top no exam life insurance companies for 2018.

But is it the best option for you? 

It might be. There are no more than 20 companies offering insurance coverage with no exam. The increased competition is a GREAT thing for the life insurance shopping consumer.

The problem is, the right company for your best friend may not be the right one for you. Please consider price, conversion options, available riders, underwriting, company financial strength, and approval process.

The best way to do this is to work with an independent agency that is:

  • Unbiased and not obligated to any particular life insurance company.
  • Has access to all the top no exam products as well as some niche products for certain people/situations.
  • Is a specialist in the no exam area.
using an independent life insurance agent to maximize pensions benefits through the addition of a life insurance policy

No Pressure. No Cost.

You're in luck:) We do all the above and more. If you'd like to have a no pressure talk about options, please contact us or fill out the quote request form on this site.

Life insurance rates are fixed by law so there is no additional cost to use our service and expertise. We would be grateful to help you put protection in place for those you love.

Authors

  • Ty Stewart

    Ty Stewart is a founder and contributor of SimpleLifeInsure.com. He started researching and studying about life insurance when he got his first policy for his own family. He has been featured as a life insurance expert speaker at agent conventions and in top publications. As an independent licensed life insurance agent he has helped clients nationwide to secure affordable coverage while making the process simple.

    https://simplelifeinsure.com/ ty@simplelifeinsure.com Stewart Ty
  • Bennett Bier

    I’m Bennett Bier, owner, author and fact checker of Simple Life Insure. I believe working with a small independent broker offers consumers more personal attention and superior customer service. As an independent agent licensed in all 50 states and the District of Columbia I have access to many of the top A+ rated life insurance carriers. This lets me locate a plan that you will qualify for while saving you money at the same time. Over the years I have mastered the art of underwriting, getting approvals even for my highest risk clients. I’m also likely the person that will answer the phone when you call.

    https://simplelifeinsure.com/ bennett@trustedlifeinsurancequotes.com Bier Bennett