Savings Bank Life Insurance (sbli)
Low-cost life insurance sold by savings banks in the states of Connecticut, Massachusetts, and New York. SBLI is a popular source of life insurance in these states for two reasons: it is offered in bank lobbies, which makes it convenient; and there are no commissions, as with commercial life insurance, which makes it cheaper. Although banks generally are barred from the insurance business, SBLI was allowed by these three states at the urging of consumer groups. Other states have refused to adopt similar legislation. Maximum policy amounts are limited by state law.
Popular Insurance Terms
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Department in an insurance company that prepares policies to be sent to the policyholder, sends the policies, and keeps records of the policies that were sent. ...
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