Standard Security Life Insurance

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Standard Security Life Insurance (SSLI) is a leading provider of life insurance policies in the United States. With over 100 years of experience in the industry, SSLI has built a strong reputation for its reliability and customer service. This article will provide an overview of SSLI’s life insurance policies, its benefits, and how to obtain coverage.

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About Standard Security Life Insurance

SSLI was founded in 1919 and offers a range of life insurance products that cater to the needs of individuals and families. The company has its headquarters in New York and has a network of agents across the country. SSLI is a subsidiary of StanCorp Financial Group, which is a leading provider of employee benefits.

SSLI is rated A- (Excellent) by A.M. Best, which is a testament to its financial stability and ability to meet its policyholders’ claims. The company has also been recognized for its customer service, receiving high ratings from J.D. Power and Associates.

Types of Life Insurance Policies Offered By SSLI

SSLI offers the following types of life insurance policies:

Type of Policy
Description
Term Life Insurance
Provides coverage for a specified period, such as 10, 20, or 30 years. Premiums are generally lower than permanent life insurance, making it an affordable option for many.
Whole Life Insurance
Provides coverage for the entire lifetime of the insured. Premiums are generally higher than term life insurance but provide a permanent death benefit and cash value accumulation.
Universal Life Insurance
Provides flexibility in premium payments and death benefits, allowing policyholders to adjust coverage as their needs change.

Benefits of SSLI’s Life Insurance Policies

SSLI’s life insurance policies offer numerous benefits, including:

  • Financial security for loved ones
  • Flexible coverage options
  • Tax-free death benefit
  • Cash value accumulation
  • Ability to borrow against the policy’s cash value
  • Dividends on certain policies

How to Obtain SSLI Life Insurance Coverage

To obtain SSLI life insurance coverage, individuals can contact an SSLI agent in their area or visit the company’s website. The agent will provide information about the different types of policies and help individuals select the best one for their needs. The agent will also provide an application for coverage, which requires individuals to answer questions about their health and lifestyle. Based on the answers, the underwriter will determine the individual’s eligibility for coverage and the premium amount.

FAQ about SSLI Life Insurance Policies

What is the maximum amount of coverage I can obtain?

The maximum amount of coverage varies depending on the type of policy and the individual’s age and health. Generally, term life insurance policies offer higher coverage amounts than permanent life insurance policies. An SSLI agent can provide information about the maximum coverage for each policy.

Can I change my coverage amount after I purchase a policy?

Yes, individuals can change their coverage amount after purchasing a policy. For term life insurance policies, individuals can typically convert their policy to a permanent policy if they wish to increase their coverage amount. For permanent policies, individuals can typically increase their coverage amount by purchasing additional coverage.

What happens if I miss a premium payment?

If an individual misses a premium payment, SSLI typically provides a grace period of 30 days to make the payment. If the payment is not made within the grace period, the policy will lapse, and the individual will no longer have coverage. However, SSLI may offer reinstatement options for lapsed policies.

Can I borrow against my policy’s cash value?

Yes, individuals can borrow against their policy’s cash value. The borrowing option is available for permanent life insurance policies and allows individuals to access the cash value without surrendering the policy. However, borrowing against the cash value will reduce the policy’s death benefit and may incur interest charges.

Does SSLI offer any riders for its life insurance policies?

Yes, SSLI offers various riders that can be added to its life insurance policies, such as accidental death benefit rider, waiver of premium rider, and long-term care rider. These riders provide additional benefits and protection that cater to the individual’s needs.

Conclusion

Standard Security Life Insurance is a reliable and established provider of life insurance policies in the United States. With its range of life insurance products, SSLI caters to the needs of individuals and families and offers financial security and peace of mind. By obtaining SSLI life insurance coverage, individuals can ensure that their loved ones are protected in the event of an unexpected death.

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