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BBB Accredited Business since

The Savings Bank Life Insurance Co. of MA

Phone: (800) 797-7254 Fax: (781) 938-6574 View Additional Phone Numbers 1 Linscott Rd, Woburn, MA 01801 http://www.sbli.com



BBB Business Reviews may not be reproduced for sales or promotional purposes.

Description

The Savings Bank Life Insurance Company of Massachusetts is committed to providing value, quality, and stability you can count on. SBLI insurance products are now available to consumers in Arizona, Arkansas, California, Colorado, Delaware, District of Columbia, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia, and Wisconsin.


BBB Accreditation

A BBB Accredited Business since

BBB has determined that The Savings Bank Life Insurance Co. of MA meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that affect the rating for The Savings Bank Life Insurance Co. of MA include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 1 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Industry Ratings Comparison | Chart


Customer Complaints Summary Read complaint details

1 complaint closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 1
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

1 Customer Review on The Savings Bank Life Insurance Co. of MA
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 1
Total Customer Reviews 1

Additional Information

BBB file opened: February 01, 1907 Business started: 02/01/1907 in MA Business incorporated 01/06/1998 in MA
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Massachusetts Division of Insurance
1000 Washington Street Suite 810, Boston MA 02118-2208
http://www.mass.gov/ocabr/government/oca-agencies/doi-lp/
Phone Number: (877)-563-4467 or (617) 521-7794 or (617) 521-7490 (TTD/TDD)
Fax Number: 617-753-6830
doicss.mailbox@state.ma.us
The number is 1782392.

Type of Entity

Corporation

Business Management
Ms. Justine Plourde, Manager Mr. Edward K. Kimball, Senior Counsel
Contact Information
Principal: Ms. Justine Plourde, Manager
Number of Employees

200

Business Category

INSURANCE-LIFE INSURANCE COMPANIES INSURANCE ANNUITIES Direct Life Insurance Carriers (NAICS: 524113)

Alternate Business Names
Savings Bank Life Insurance SBLI
BBB Program Participation

BBB Community Patrons
BBB Community Patrons are like-minded businesses that see ethics as the key factor in creating a stronger, healthier business community.

BBB Community Patrons' additional financial support enables BBB to pursue distinctive, mission-based programs focused on ethics that would not be possible if not for the generous backing from BBB Community Patron Sponsors.

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Customer Review Rating plus BBB Rating Summary

The Savings Bank Life Insurance Co. of MA has received 0 out of 5 stars based on 0 Customer Reviews and a BBB Rating of A+.

BBB Customer Review Rating plus BBB Rating Overview

Additional Locations

X

BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

3/30/2015 Billing/Collection Issues | Read Complaint Details
X

Additional Notes

Complaint: Recently I got a notice of lapse in the mail, stating that my policy was no longer in effect, a balance was due, and that I would have to complete a new application for reinstatement. I was been a customer of SBLI for life insurance purposes for several years. Never had any lapses or issues with prompt payment on my account so I called the resolve the issue. I was told that I had been sent a bill, and then a notice that they were going to cancel, and now this letter of cancellation. I told them that I did not recieve any correspondence on this and would like to pay my premium and continue with coverage as before. I was informed that my ''new'' policy would be contestable for another two years ( a period that I had already passed ). Their claim is that they sent the letters in the mail, and I did not pay, simple as that. I then asked them if they could send me proof of their mailings to me, and of course they could not. I also asked if the inclimate weather in their area could have been a cause for the disruption in mail service; their response was ( not exact ) '' we sent them in the mail, and you got the notice of cancellation, so we have to assume that you got all the mail''. My chief complaint is in their practices of correspondence. They have my email address, and they have my phone number. I would think that a business in good conscience would at least send correspondence via email, phone or if by mail, perhaps a certified letter, to ensure that a well paying customer is informed that their policy is going to be no good unless payment is made. So, in conclusion, my policy which was in good standing until this situation, is now no longer active, and any policy started now with be in contention. Seems pretty conveinent to me. I feel as though the company has done this with bad intentions and there should be some protection for the consumer in instances like this. In this day and age standard mail should not be the only way to notify a consumer.

Desired Settlement: I would request, being that I am no longer willing to do further business with this company, that I be awarded cash value of my policy as it was worth before Jan 2015. Furthermore I would request that an investigation be made into the policy and practices of this company.

Business Response:

I have left a message for the policy holder to contact me directly.  I will also be mailing a hard copy of the letter attached to the customer today. 


Customer Review(s)

The customer review(s) below are un-filtered. These positive and negative reviews are not used in the calculation of the BBB Rating. If you wish to file a complaint and request a resolution to your issue please click here. This customer review section is not BBBs complaint resolution system. Customer Reviews are the subjective opinion of the individual who posted the review and not of Better Business Bureau. A customer review is not posted on a business if a BBB complaint on the same issue(s) is also filed. BBB cannot guarantee the accuracy of any customer review and is not responsible for the content of any customer review. Public comments are not customer reviews.

Customer Reviews Summary

1 Customer Review on The Savings Bank Life Insurance Co. of MA
Positive Experience (0 reviews)
Neutral Experience (0 reviews)
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