SBLI

"I am so aggravated with SBLI. I have a loan against my policy. I am trying to pay it down. I've sent in 4 payments to date. The first payment was processed correctly. The last 3 payments have been posted to "money available for payments" - ie: suspense. The premiums are paid in full on this policy. The payments should have been processed to loan principal, not suspense. I've got to call again tomorrow to inform them the payment was posted incorrect, in spite of me sending a note and writing on the check that the payment should be applied to loan principal. I was told by a manager that they would put an alert on the account for the loan dept. to alert them that payments were to go to principal after the first processing error. What is wrong with the loan department at SBLI? There is no way to make an online payment for a loan. I was also told that I needed to keep track and monitor my payments. Now, I know why. Someone needs to pay attention!"

"This place is not good!! They will quote you a price and in fine print have you sign that the amount is subject to change and they will take the money from your account before they even tell you the amount and that it changed drastically!! Went from $80 to $380!!!! Could not get a human on the phone at all! I am to the point where I have closed my checking account and will investigate further to see if they're a legit company. These places must be stopped! I will be using every social media platform to share the information."

"This SBLI company is completely fraud! They refused my claim in order to receive my husband's life insurance after he passed away and he was paying to that company money for 19 years!!! They rejected my claim even I am the only beneficiary on his policy! They blocked my access to the account to review the contract and laughed at me when I asked over the phone how they will send my funds after his death. Now I have to work with attorney to sue that company. Very bad reputation and very bad company with no trust!!!"

"Policy over 10 years? Paid& got confirmation 3/31/23. Called them 4/4/23 & emailed 4/13/23. Told no problem with payment& no response to my email. Now 5/22/23 letter saying I have lapsed because they couldn't find my bank acct to take the payment. This was 1st contact from them. Called them& was told will not reinstate unless I fill out new paperwork. I consider this fraud and their way of raising my cost. Notice dates on attached letters. May 11 2023 says pay your premium. May 12 2023 says you are lapsed."

"since company was sold they do not answer the phone or email response had to make a complaint to my state insurance division. I asked for my original contract and how the sliding scale for how much you get when you die depending on age. Instead of answering the phone or email they sent me act to reinstate form that wants me to allow SBLI to access my health info and give it to third party companies whenever they want. Instead of getting in contact with me they sent me a check with my balance and the reinstatement form with the ability to access all my heath info and be able to sell it to other companies. There are many term insurance companies stay away from this one"