SBLI Burial Insurance Review: Is SBLI’s Living Legacy Plan Worth It?
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
Welcome to our SBLI Burial Insurance Review!
Are you considering SBLI’s burial insurance but wondering if it’s the right choice for your family?
When looking for final expense insurance, seniors need a plan that offers affordable premiums, guaranteed coverage, and reliable benefits.
SBLI (Savings Bank Mutual Life Insurance) has been around for over a century, offering various life insurance products, including its Living Legacy Burial Insurance Plan.
But is it worth it?
In this review, we’ll cover SBLI’s burial insurance costs, benefits, complaints, and how it compares to other providers.
What Is SBLI Burial Insurance?
SBLI offers the Living Legacy Burial Insurance Plan, designed as a whole life insurance policy to help cover funeral and burial expenses.
Key Features:
✅ Coverage options from $2,500 to $35,000.
✅ No medical exam required—approval is based on a simple health questionnaire.
✅ Fixed premiums—payments never increase.
✅ Builds cash value over time, which can be borrowed against.
✅ Guaranteed benefits—payout is assured as long as premiums are paid.
Unlike term life insurance, SBLI’s burial insurance provides lifetime coverage, meaning your loved ones will receive the full death benefit no matter when you pass away.
| Feature | Details |
|---|---|
| Plan Type | Whole Life Insurance (Final Expense Protection) |
| Issue Ages |
– **Level Benefit Plan:** 50-85 – **Modified Benefit Plan:** 50-85 |
| Face Amounts |
– **Level Benefit Plan:** $2,500 – $35,000 (varies by health class) – **Modified Benefit Plan:** $2,500 – $20,000 (varies by age & health class) |
| Medical Exam | – **No medical exam required** (simplified underwriting with health questions) |
| Benefit Type |
– **Level Benefit Plan:** Full death benefit paid from day 1. – **Modified Benefit Plan:** • Year 1: 105% of premiums paid if death is due to natural causes. • Year 2: 110% of premiums paid if death is due to natural causes. • Year 3+: Full death benefit paid. • Accidental death: Full benefit paid in all years. |
| Premiums | – **Guaranteed level premiums** for life |
| Policy Features |
– Guaranteed **non-cancelable** as long as premiums are paid. – Instant decision upon application submission. – Helps cover funeral costs, medical bills, and outstanding debts. |
| LegacyShield® Benefits |
– **Free subscription to LegacyShield® tools:** • Securely store documents, final wishes, and photos. • Create estate planning documents (wills, power of attorney, etc.). • Manage financial accounts in one dashboard. |
| Company Information |
– **Underwritten by:** The Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI) – **Website:** SBLI – **Customer Service:** 1-800-694-7254 |
*Ballpark Quote
Is SBLI a Good Life Insurance Company?
Company Overview
- Founded: 1907
- Headquarters: Woburn, MA
- Type: Mutual life insurance company
SBLI has built a strong reputation for offering affordable life insurance policies with simple underwriting.
Financial Strength & Ratings
- AM Best Rating: A (Excellent)
- BBB Rating: A+ (Good customer service, but some complaints about processing delays)
- Customer Reviews:
- Positive: Affordable rates, easy application, solid financial backing.
- Negative: Occasional delays in claims processing.
SBLI Burial Insurance Costs & Sample Rates
The cost of SBLI’s Living Legacy Burial Insurance depends on age, gender, and health status.
Sample Monthly Rates for a $10,000 Policy (Preferred Non-Smoker):
If you have pre-existing health conditions, you may qualify for a standard or a modified or guaranteed issue policy, which does not require health questions but comes with higher premiums and a waiting period.
Sample Monthly Rates for a $10,000 Policy (Standard Non-Smoker):
*Ballpark Quote
Sequoia Funeral Concierge Plan
Losing a loved one is an emotionally overwhelming experience, often compounded by the stress of making urgent decisions regarding funeral arrangements, logistics, and financial obligations.
The Sequoia Funeral Concierge Plan, powered by NASER Global, is designed to alleviate this burden by providing a comprehensive, hassle-free solution that ensures families receive personalized, logistical, and financial support during their most difficult times.
With no waiting periods, no age limits, and no immigration status restrictions, this plan offers 24/7 multilingual assistance, global repatriation services, discounted funeral costs, and expert guidance to help families navigate the complexities of funeral planning.
Sequoia Funeral Plan Features:
| Feature | Details |
|---|---|
| Plan Overview |
– A **nationwide funeral planning and concierge service** included with every **SBLI Living Legacy™ Final Expense Plan**. – Powered by **NASER Global**, offering guidance and support for families during the funeral process. |
| Key Benefits |
– **24/7 Personalized Guidance**: Dedicated professionals help families make informed decisions. – **Discounted Funeral Services**: Special pricing available for funeral arrangements. – **Global Network**: Access to the **largest funeral service network**, with new providers added annually. – **Extended Family Protection**: Covers **up to 10 family members** under the same plan. – **Nationwide & International Support**: Assists with **funeral transfers across states and countries**, including legal documentation at **discounted rates**. |
| How It Helps |
– Helps families **understand funeral options** and navigate the planning process with ease. – Reduces **emotional and financial stress** by offering **pre-arranged discounted services**. – Ensures your **final wishes are carried out within your budget**. |
| Next Steps |
– Sequoia will **contact you within a few weeks** to complete your registration. – For immediate assistance, call **NASER Global at 1-877-398-4413**. |
| Contact Information |
– **SBLI Customer Service:** 1-800-694-7254 – **NASER Global Funeral Support:** 1-877-398-4413 – **Website:** SBLI |
Whether a passing occurs domestically or internationally, Sequoia’s vast network of over 7,500 funeral providers worldwide ensures that final wishes are honored with dignity, efficiency, and care.
Does SBLI Require a Medical Exam?
- No medical exam required for the Living Legacy Burial Insurance plan.
- Approval is based on answers to a few health questions.
- Applicants in good health may qualify for lower rates.
- SBLI also offers term and whole life policies, which may require a medical exam for larger coverage amounts.
SBLI’s Accelerated Death Benefit: What You Need to Know
- SBLI includes an Accelerated Death Benefit rider at no extra cost.
- If you are diagnosed with a terminal illness (12 months or less to live), you can access up to 50% of the death benefit early.
- This can help cover medical expenses, hospice care, or other end-of-life costs.
SBLI Complaints & Common Issues
While SBLI generally receives positive reviews, some policyholders report the following complaints:
❌ Slow claims processing—some families experience delays in payout.
❌ Longer-than-expected wait times for policy documents.
❌ Premium rates may be higher than expected for those with health issues.
However, SBLI has an A+ BBB rating and offers a 30-day free-look period, allowing customers to cancel their policy with a full refund if unsatisfied.
How SBLI Burial Insurance Compares to Competitors
*Ballpark Quote
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FAQ
Yes, SBLI is a reputable company with strong financial ratings and affordable burial insurance policies.
No, SBLI’s Living Legacy Burial Insurance Plan does not require a medical exam—just a health questionnaire.
SBLI offers term life, whole life, and final expense insurance.
Allows policyholders to access up to 50% of their death benefit early if diagnosed with a terminal illness.
Conclusion
SBLI’s Living Legacy Burial Insurance Plan is a solid option for seniors seeking affordable, no-medical-exam coverage for final expenses. With fixed premiums, cash value accumulation, and an accelerated death benefit, it provides peace of mind for those looking to protect their loved ones from funeral costs.
However, it’s important to compare SBLI with other burial insurance providers to ensure you’re getting the best rates and benefits.
*Ballpark Quote
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