SBLI Term Life Insurance vs. SBLI Whole Life Insurance: Which is right for you?

When it comes to life insurance, understanding the differences between term life and whole life can help you make the best decision for your family’s needs.

SBLI Term Life Insurance provides coverage for a specific period. You choose the term length based on how long your family would need financial protection if you were no longer there. This could cover your working years, your children’s college years, or the length of your mortgage. It’s designed for those who want affordable premiums and the flexibility to convert to a permanent policy later.

SBLI Whole Life Insurance offers lifelong protection and includes a guaranteed cash value that grows tax-advantaged over time.¹ This cash value can be borrowed against for any reason, such as paying for college tuition or supplementing retirement income.² Whole life insurance ensures that your loved ones are always protected, regardless of what the future holds.

Differences at a glance:

SBLI Term Life Insurance:

  • Flexible term lengths ranging from 10-30 years
  • Budget-friendly premiums
  • Your rates remain unchanged throughout the selected term, providing stability and peace of mind
  • Option to convert to a permanent policy

SBLI Whole Life Insurance

  • Lifetime coverage
  • Premiums can be paid for a limited time or throughout the life of the policy
  • Premiums remain the same
  • Build cash reserves from premiums that you can borrow against or use as your needs evolve²
  • Eligible for dividends³

Good to know: Policy riders can help customize a policy for your unique needs.

Sometimes, a combination of both term and whole life insurance can provide the best protection for you and your loved ones. Our team of knowledgeable advisors can offer personalized guidance and answer your questions. Give us a call – we’re here to help.

¹Guarantees are backed by the financial strength and claims-paying ability of SBLI.
²Loans will reduce your net cash value and net death benefit and may be subject to interest charges. Unpaid loans and withdrawals are subject to ordinary income tax and, if taken prior to age 59 1/2, a 10% federal tax penalty.
³Dividends are not guaranteed. They are declared annually by SBLI’s Board of Directors.

Policy form series: 21-P-PWL & 21-P-PSPWL
24-4199 (6/24)