SBLI USA Mutual Insurance Co. Inc. has added a bank partner in New York State - Glens Falls National Bank and Trust Co.
SBLI USA sells life insurance through credit unions, midsize banks, and national banks, including such big names as Citibank and Wells Fargo, said Mimi Yee, the vice president of marketing and sales for the New York-based insurer. The company has about 40 bank partners throughout the United States, she said.
Glens Falls National is a $1.2 billion-asset commercial bank with 22 branches in upstate New York. Under the agreement announced Thursday, it will sell term life, whole life, simple-issue term life, children's single-premium term, and SeniorLife insurance policies through reps in its branches.
SBLI USA was created in 2000 as a mutual company from The Savings Bank Life Insurance Fund. The latter dates from 1939.
