SBLI USA Mutual
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Written by
Jeffrey Johnson
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UPDATED: Jun 8, 2021
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- SBLI USA Holdings Inc
- S.USA Life Insurance Company
- SBLI USA Diversified Services Company
Company Overview:
Company History: SBLI USA’s predecessor, The Savings Banks Life Insurance system, was founded in 1939, inspired by U.S. Supreme Court Justice Louis Brandeis. In the 1990s the SBLI insurance organization merged the SBLI Fund and the 16 affiliated insurance departments of issuing banks. This merge led to the founding of a single mutual company under the title SBLI USA Mutual Life Insurance Company. Today the company has over $12 billion in the insurance marketplace and are well known for their affordable life insurance policies.
Principle Sales Methods: Career and independent agents and brokers, plus computerized direct response.
Life Annuity Business: SBLI USA Life Insurance Company sells Whole and Term Life, Disability insurance, and Tax-Deferred Single-Premium Annuity plan through traditional channels nationwide, plus Simple Issue Term, SeniorLife, and AD&D coverages through its Direct Response system.
Looks like SBLI’s customer service went from bad to non-existent. We’ve been trying to change annuity ownership for the past 3 months now This is absolutely the worst customer service I’ve experienced in a very long time. I consider IRS a benchmark of efficiency comparing to them.
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We cancelled our policy,which was required to get health insurance scam, and they continue to take money out of our checking account. We contacted them, were told we’d get a check you can’t just reverse the charge to our account in ten days. Two days later we receive a letter telling us they were informed we wish to continue service No we did not Corrupt company Do not use them
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My husbands life insurance was with SBLI USA and he passed away very un-expectantly. He had the life insurance less than a year. But was assured that he was covered. He was not sick at the time of his death, he said he felt better than he had in years. When I called to see if he had insurance with the company before planning his funeral they assured me he was insured. I didn’t ask for how much because I had the policy in my hand. After the funeral when I got the death certificate they informed me that they were contesting payment. I was told my a lady that they like their customers to live at least 2 years after taking out the policy. Well I just buried my husband of 20 years, was in shock still from his death and she says that to me. I informed her that he wasn’t planning on dying at this time he was excited about living and enjoying his grandchildren that had just moved back and he was beaming. He loved life Suddenly he is gone and we are all walking around like we have been hit with a stun gun full force. I am just now almost 2 months later trying to peace my life together. They have contested payment and decided to send me a check of what my husband had paid on his premium. Well that isn’t covering 18th of funeral cost. Let me remind you that I called to varify insurance before we planned the funeral. My mistake was trusting them to pay the premium. My husbands death was a caused from undiagnosed condition . We knew he had a-fib and was treated with medicine but his heart exploded he died instantly. Given the choice I would rather have my husband back, I don’t give a hoot about the money, I want my husband. But since only God can bring him back to life I really need the insurance money to pay for the funeral and bills. He trusted these people to use his premium to take care of his family and he believed he had taken care of us. They have deceived him and his family. Be ware You think you have done everything possible to make sure your family is taken care of when you die and your family finds out afterwards that it’s not true. Then your family can’t even morn your death because they are worrying about how to pay funeral bills and make it without you. This insurance company takes advantage of people, they take your money and give families false hopes that they have done all they can to take care of their families.
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