Compass

SBLI Moving to a Mutual Company Structure (5/31/17)

Reorganization of SBLI’s Company Structure


Per SBLI:  Anticipated changes at The Savings Bank Life Insurance Company of Massachusetts (SBLI).

The Company is planning to convert its form of ownership from stock to mutually-owned. During this process there will be no disruptions to the handling of your business or to the service levels you enjoy.

The process of converting from a stock to a mutually-owned company, among other things, requires policyholder approval. Last week, the process of policyholder approval began with the mailing of notices to all policyholders. A meeting of the policyholders, to be administered by the Commissioner of Insurance, is scheduled for June 28, 2017 in Boston.
 
For any inquiries reference this FAQ sheet about the Conversion, together with the Summary Policyholder Information Statement, which will address many of your questions. A key point to emphasize is that the premiums, benefits, values, guarantees, or dividend rights of our policyholders will not change as a result of the Conversion.