Life Insurance

Savings Bank Life Insurance

Life insurance is something we all need. However, the process of selecting just the right policy with the right coverage seems confusing at first. That is where Savings Bank Life Insurance (SBLI) comes in. For almost one hundred years, SBLI has been providing low-cost life insurance without the confusion and without the usual "sales pressure" associated with some life insurance companies. Available in a wide range of amounts, SBLI has a variety of plans to meet the needs of individuals, families, groups and businesses. 

Term Life Insurance

Term Life insurance covers you for a specific period of time, from 10 to 30 years. Available policy amounts are from $100,000 to $5 million. Your Term Life insurance rate remains fixed for an initial period and then increases annually. If you die during the coverage period, SBLI pays benefits. Term Life insurance policies have no cash value. Term Life insurance is an excellent way for you to make sure that your family (spouse, partner, children and/or siblings) will not face financial burden if you die.

SBLI offers two types of Term Life insurance:
  • Level Premium Term Life Insurance: Level Premium Term life insurance functions exactly as outlined above and can cover you up until you are 85 years of age.
  • Yearly Renewable Term Life Insurance: Yearly Renewable Term Life insurance is very inexpensive in the early years and then increases with age. 
    • The plan will automatically renew every year until age 75 without additional proof of insurability. The Term Life insurance rate (premiums) may increase annually, however the first increase is not scheduled until after age 31.
    • From 75 to 90 years of age, you are able to continue the plan with a fixed Term Life insurance rate, but the coverage amount will decrease annually.

Renewing the plan every year is easy — just mail in your premium. In addition, at any time up until you are 65 years of age, you can convert your Yearly Renewable Term policy to one of our whole life insurance policies. You will not need any additional proof of insurability, and you can choose a coverage amount between $25,000 and $1 million. 

Whole Life Insurance

Whole Life (or Straight Life) insurance gives you insurance protection, and thus financial protection, for life. As long as you continue to pay the premiums for your Whole Life insurance policy when due, SBLI will pay benefits if you die. Whole Life insurance, as its name implies, is a long-term strategy for protecting you and your family. You are protected for your entire life. Your SBLI insurance premiums will remain fixed, SBLI guarantees it, and your Whole Life insurance policy can earn dividends, which increase the cash value of your policy. 

Children’s Life Insurance

Children’s Life insurance is a group of insurance policies, including Term and Whole Life, designed specifically for the needs of children and their caregivers. Almost all SBLI insurance plans available to adults are available to children. However, premiums for children are much lower and amounts are limited.

SBLI offers two types of Children’s Life insurance:
  • Single Premium Term to Age 22: For parents and grandparents who may wish to purchase insurance protection for a child at low cost, SBLI offers a Single Premium Term to Age 22 policy. For a single low premium, this policy is available in increments of $5,000 with a maximum of $25,000. When the child reaches age 22, the policy may be converted to any of SBLI's permanent level premium policies for twice the face amount without evidence of insurability.
  • Children’s Whole Life Insurance: Children's Whole Life insurance functions like most other Whole Life insurance plans. The child gets insurance protection for his or her whole life, as long as you or they continue to pay the premiums. One benefit is that by starting a whole life insurance plan now, you help lock in low premiums for life. 


Annuities are contracts between SBLI and you that provide tax-deferred interest growth. You make payments into an Annuity, either one time or many times, and we promise to make payments to you for a specific period or over your entire lifetime. Annuities generally fall into one of two categories: immediate or deferred. Immediate Annuities quickly begin making guaranteed payments to you. Deferred annuities generally take longer, but provide you with other important benefits. The bottom line is Annuities allow you to earn tax-deferred interest as the plan accumulates value. Only when SBLI distributes the funds to you will you have to pay taxes. 

Group Term Life Insurance

For business owners or those responsible for employee benefits plans, Group Term Life insurance benefits are available to your employees. 

Now Is The Time To Act

Life insurance is too important to put off. To find out more about any of the policies listed here, along with latest rates and more detailed information, contact our licensed life insurance representative:

John V. Lyons, Infinex Investment Executive, 508-849-4242, or Email.


Important Information

This website is for informational purposes and nothing on this website constitutes an offer to purchase or sell securities.

For more information about a particular non-deposit investment product, ask for a prospectus. Please read it carefully prior to investing.

Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC.  UniVest Financial Services is a trade name of UniBank. Infinex and UniBank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.