Savings Bank Life – New Upsell Program

SBLI’s new upsell program makes it easier for agents to increase the insurance coverage for their clients.

Beginning on April 13, 2015, this exciting new program will identify eligible clients for larger face amounts without additional underwriting requirements.

SBLI is making it easy by giving you all the facts you’ll need to recommend the face amount increase. All it takes is an email response to the SBLI Case Coordinator indicating which upsell coverage option you and your client have selected. How does the program work?

  • The Underwriter identifies the face amount increase available. There is no request required by your office.
  • The SBLI Case Coordinator will send an email that provides coverage options and premium amounts directly to the case manager at your agency. See an example of the email here.
  • Your agency case manager will have five business days to respond to the opportunity to provide additional coverage to your client.
  • Any additional coverage would qualify for full commission to the agent.

How is the new coverage amount identified?

  • Increased coverage increments are based on the difference between the face amount for which the customer applied and the face amount maximum for the upsell opportunity.
  • The customer can choose any amount that doesn’t exceed the maximum specified in the email. The email includes the modal premium for each of the respective offers.

The options

  • If the proposed insured accepts an increased amount, simply email the SBLI Case Coordinator the new face amount selected within five business days.
  • If no additional coverage is needed, no further action is necessary and the policy will be issued in the amount for which it was applied.

If an increased amount is elected, it will not be considered to be in force until the policy is issued and the necessary initial premium is received. The increased amount will not apply under the valid conditional receipt.

Posted in Advertisement, Bulletins, Product Change.