SBLI USA Mutual Life Insurance Company, Inc. Lowers Rates on Underwritten Term Policies

Revised Underwriting Criteria -- Increased Issue Ages -- Re-Pricing of 10, 15 and 20-Year Products to Benefit Customers

NEW YORK, NY (PRWEB) February 15, 2004 --SBLI USA Mutual Life Insurance Company, Inc. today announced the re-pricing of its 10-year, 15-year, and 20-year underwritten term policies. These price changes, which went into effect on January 19, are geared not only to make life insurance more affordable, but also to serve as an incentive for people without life insurance to take advantage of the companys quality products.

In addition, SBLI USA has enhanced its underwriting criteria, making it easier to qualify for the best rates. The new criteria will be less restrictive when considering such factors as past tobacco use, cholesterol levels, and residency requirements.

Other Highlights Include:

 New Maximum Issue Ages: In New York State, the maximum issue ages will increase to age 70 for the 10-year policy, age 65 for the 15-year policy and age 60 for the 20-year policy;
 Outstanding Conversion Provision Still Applies: SBLI USAs customers will still be given the opportunity to convert their term policies to whole-life coverage up to the age of 75, helping guarantee their insurability.

We recognize the importance of providing our customers with affordable insurance and we are working closely with our banking partners to ensure quality service," said Vikki L. Pryor, president and CEO of SBLI USA. These new prices, along with our revised underwriting criteria, will make it easier for our customers to get coverage and keep the costs of that coverage affordable." Pryor added: Everyone deserves financial stability. We work to serve those who have historically been underserved."

The premium reductions only further demonstrate why SBLI USA is an established insurance provider, receiving an excellent" (A-) rating from the A.M. Best Company, and a 95 percent customer satisfaction rating, according to a recent independent survey.*

We have very competitive rates for a reason," said M. Nasim Ali, executive vice president of marketing and sales at SBLI USA Mutual Life Insurance Company, Inc. We are a compassionate corporation, and our goal is to ensure that we provide our customers with affordable prices and quality products."

*Development II, Inc. September 2003

About SBLI USA
SBLI USA Mutual Life Insurance Company, Inc. is a financial services company that is committed to the value-conscious people who make America work. The company is dedicated to building lifelong relationships with customers and empowering them with the education and tools they need to help take control of their financial destinies.

SBLI USA and its subsidiaries are licensed in 50 states, the District of Columbia and Puerto Rico. With more than $1.3 billion in assets, $123 million in surplus capital, 250 employees and over 400,000 customers, the company is committed to offering affordable, flexible and easy-to-access products through a variety of integrated channels, including direct mail, telemarketing, the Internet and licensed agents, as it expands nationally.

SBLI USA Mutual Life Insurance Company, Inc. is the parent company to SBLI USA Holdings, Inc., which owns subsidiary companies S.USA Life Insurance Company, Inc. and SBLI USA Diversified Services Company, Inc.

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