WOBURN, Mass.--(BUSINESS WIRE)--The Savings Bank Mutual Life Insurance of Massachusetts (SBLI) announces the success of its Accelerated Underwriting Process, a breakthrough in helping people buy life insurance quicker and easier than ever before.
Two years after its launch in 2016, the program enjoys great customer popularity, driven by both the convenience and speed of the process:
Half of SBLI’s Accelerated Underwriting decisions are made in five days or less -- compared to an average industry benchmark close to a month.
“We launched Accelerated Underwriting quietly two years ago to watch market response and make sure we could efficiently deliver on our promise,” said Jim Morgan, president and chief executive officer of SBLI. “Response has been great and the process has worked smoothly, confirming the need for our ‘no-hassle’ life insurance solution.”
Program elements include:
- No one age 18-60 is excluded, no matter the risk class, for $500,000 or less term insurance
- All applications just require a telephone interview
- No in-home visit
- People can start with a quote and apply online
To mark the occasion, the company is offering the SBLI Financial Awareness Quiz, a free self-test to help families determine their level of financial security awareness. The no-strings-attached quiz lets parents get an overview of their family financial security, then see how their answers compare to other people who completed this quick test.
Conceived by U.S. Supreme Court Justice Louis D. Brandeis, Savings Bank Mutual Life Insurance (SBLI) was established in Massachusetts in 1907. Today, SBLI is a policy-holder-owned provider of safe, low-cost life insurance products, currently licensed in 49 states and the District of Columbia. For more information on SBLI, visit www.sbli.com or call 1-888-GET-SBLI.