LIVING LEGACY -
FINAL EXPENSE LIFE INSURANCE
An instant-decision whole life insurance product designed to help cover funeral expenses and other end-of-life debts that your client’s family may face in the event of death.
Qualify for the Punta Cana, Dominican Republic
SBLI 2024 Sales Contest
Key Benefits
Up to $35,000 of Coverage1
With no exam and competitive pricing.
Two Plans Available
Customers can qualifyfor the Level (Preferred/Standard) or Modified Benefit plans based on health history.
Instant Decision
100% of the time witha few simple medicalquestions.
Face-to-Face or Telephone Sale
Instant decision digitalapp (accessible throughsmartphone, tablet, or laptop) for face-to-face or telephone sales.
Create a Will for Free
Clients can create a lasting legacy (including a will), and also make sure that their loved ones can find everything left for them when it is needed with LegacyShield.®2
living Legacy - Final Expense Product specifics
FEATURES
DESCRIPTION
Product Design
Living Legacy-Final Expense is a whole life product particularly suited to the senior market. It is a simplified-issue, instant-decision product and features a two-tier classification. Customers can qualify for the Level or Modified Benefit plans based on health history.
DEATH BENEFITS, AMOUNTS, AND RISK CLASSES
Level Benefit
(Preferred/Standard)
Modified Benefit
(may vary by state)
Death Benefit
Full death benefit all years (less outstanding debt)
Year 1 – 105% of the premiums paid to date (less outstanding debt)
Year 2 – 110% of the premiums paid to date (less outstanding debt)
Year 3 – Full Death Benefit payable (less outstanding debt)
In the event of accidental death, full death benefits are paid from the first day of coverage.
Min./Max. Face Amounts Minimum:
$2,500
Maximum:
Preferred Non-Nicotine
Ages 50-75: $35,000
Ages 76+: $25,000
Standard Non-Nicotine & Nicotine
Ages 50-75: $25,000
Ages 76+: $20,000
Ages 50-75: $20,000
Ages 76+: $15,000
The same customer can own multiple Final Expense policies, but the maximum combined coverage on any one life is the maximum face amount shown above3
Risk Classes
Preferred, Standard Non-Nicotine, Standard Nicotine
Non-Nicotine, Nicotine
Issue Ages
50-85 (age last birthday)
Premiums
Level, payable to age 100
Policy Fee
Annual policy fee $48 (this is non-commissionable). Modalized for premiums not paid annually
State Availability
Available in all states except NY
PREMIUM MODES AND FACTORS
Mode
Annual
Monthly
Factor
Annual Premium x 1.0
Annual Premium x 0.087
RIDERS & SERVICES
LegacyShield®
SBLI has partnered with LegacyShield® to offer SBLI policyholders a free subscription to a number of unique, easy-to-use online tools which can help your clients not only create a lasting legacy (including a will), but also make sure that their loved ones can find everything left for them when it is needed.
With LegacyShield®, clients can:
- Safely store their documents, final wishes, family photos, and more.
- Create documents for their estate plan, including their will, power of attorney, and advance directive.
- Consolidate all of their financial accounts in one convenient dashboard.
FINAL EXPENSE SALES TOOL KIT
Living Legacy - Final Expense Agent Guide
2022 SBLI Sales Contest
Living Legacy - Final Expense Consumer Brochure
LegacyShield® Consumer Brochure
Living Legacy - Final Expense FAQ
KEY POINTS OF CONTACT
Points of Contact
Contact
Phone Number
Email Address
Onboarding -for any agency or agent onboarding questions
Contracting Support
9am – 9pm ET, M-F
Sales Support -for sales, marketing, and agent site questions
Sales Support
8am – 4pm ET, M-F
Customer Service -for policy changes, surrenders, claims etc. requests
Customer Service
8am – 5pm ET, M-F
888.224.7254
option 3
MRS ApplicationPlatform -for issues relating to logging in, quoting, completing/submitting the application or other issues with the platform
MRS Help Desk
8am – 5pm CT, M-F
Best Plan Pro -for issues relating to logging in, quoting, prescreening or other issues with the platform
Best Plan Pro Help Desk
Agent Sales Portal -for access to the Final Expense Application Platform (MRS), your business summary, and commission statements
¹The maximum coverage amount is dependent on age, risk class and product.² SBLI provides LegacyShield ® at no cost. Additional LegacyShield products may also be available for purchase. Its availability varies by state. The client’s relationship or agreements with LegacyShield are separate from their relationship or agreements with SBLI. The kits they may be receiving access to through LegacyShield are not intended to be legal, tax, or investment advice. Clients should consult their own legal, tax, or investment advisor regarding their personal situation. LegacyShield is a subsidiary of SBLI. ³Please note this covers your total final expense coverage with SBLI including other Final Expense products previously purchased from SBLI.
For the education of producers/brokers only. Not for use with the public. Products and features may not be available in all states. Policy Form Series: 22-P-FELWL, 22-P-FEGWL. The Savings Bank Mutual Life Insurance Company of Massachusetts, Woburn, MA. ©2022 All rights reserved. NAIC #70435. 22-3017 06/22