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SBLI PRODUCT UPDATE:
Transition Guidelines for.SBLI Whole Life Product Updates

Drislane Mastroianni Brokerage

SBLILike many carriers, we are updating our product portfolio to comply with the Consolidated Appropriations Act of 2021, which lowers the interest rate assumptions used in Section 7702 of the Internal Revenue Code. As one of our valued partners, you are receiving this information now to help you with the transition process.
PORTFOLIO CHANGES

We will be introducing these changes on December 15, 2021 to our Whole Life product portfolio. Below, you will find a summary of the impacted products and the associated changes.

- Flex Whole Life (participating) - available for new business and conversions *
SBLI Product Update

- InStep Whole Life (non-participating) – available for conversions only **
SBLI Product Update
- SBLI Conversion UL – other than tax impacts associated with the 7702 changes there are no updates to this product.


KEY TRANSITION RULES DATES

ILLUSTRATIONS
° Illustrations for the updated Whole Life products will be introduced on December 15, 2021 and will be available via LPES and Winflex.
° As of December 14, 2021, the old products will no longer be available for illustrations.

TRANSITION RULES
Any application received at our home office prior to December 21, 2021 will receive the current product versions if the following requirements are met:

• New Business Submissions and Conversions

   » You submit a signed application and illustration (if necessary).
   » The application and illustration must have a signed date of December 14, 2021, or earlier.
   » The application is approved and placed in-force with premium paid by December 28, 2021.

• Pending New Business
   » The pending policy has a received date prior to December 15, 2021 and is issued and paid for by 
December 28, 2021.
   » The pending policy is NOT future dated past December 28, 2021.

° Any application received on December 15, 2021 or later will receive the new product version.
   » New or conversion applications received on December 15, 2021, or later, will only receive the new product 
version and rates.

° All pending policies not issued by December 28, 2021, will require a newly signed illustration as the client is no longer eligible for the old product. 

° Any application received on December 15, 2021 or later for business in Washington, D.C. will not be 
processed until we have approval from this state.

Please contact us TODAY if you have any additional questions.

Drislane Mastroianni Brokerage

Phone 800-227-1258

Direct Phone Extensions and Contact Numbers:

Amy Mastroianni: 781-437-4340

Elizabeth Herlihy781-437-4337

Rick Drislane: 781-437-4344

E-mail: amy@dandmbrokerage.com or elizabeth@dandmbrokerage.com
or rick@dandmbrokerage.com

Website: www.dandmbrokerage.com


* Level term policies or level term riders with a policy issue date before 8/1/2012 have the option of converting to either Flex Whole Life (Participating) or Conversion Universal Life.
* Level term policies or level term riders with a policy issue date on or after 8/1/2012 have the option of converting to either InStep Whole Life (Non-Participating) or Conversion Universal Life.
Please note: Conversion Universal Life is not available in the state of California.
For the education of producers/brokers only. Not for use with the public. Products and features may not be available in all states.
Policy Form Series: 18-P-WL, 18-P-SPWL, 19-P-PWL, 19-P-PSPWL, B-49. Rider From Series: BN-50, 14-WOPR. The Savings Bank Mutual Life Insurance Company of Massachusetts, Woburn, MA. © 2021 All rights reserved. NAIC #70435. 21-2023 11/21
Copyright © 2021 Drislane & Mastroianni Brokerage, All rights reserved.


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