According to the company, the new products, continuous pay, single premium, 10-, 15-, and 20-payment, and paid-up at age 65, will feature guaranteed cash values as well as high current cash values in the first 15 years of coverage.
An accelerated death benefit rider is included at no premium charge with every SBLI whole life product. Other riders can be purchased, including waiver of premium, children’s level term, single-pay paid-up additions, accidental death benefit, flex-pay paid-up additions, guaranteed level term, and guaranteed purchase option.
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Commenting on the launch, SBLI senior vice president and chief distribution officer, Denis Clifford, said the new whole life products and riders provides the combination of guaranteed cash values and death benefits that more and more financial professionals are seeking for their clients.
"Also, we’re confident that agents and consumers will find our premium rates quite competitive among other companies’ whole life products.
"Going forward, SBLI will continue to develop ‘no nonsense’ products which meet a broad spectrum of financial needs," Clifford added.
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