US financial institution Sovereign Bank is offering life insurance products from Massachusetts-based Savings Bank Life Insurance through its branch offices and web site.
The alliance will make the products available to New Jersey, Pennsylvania, Maryland, Delaware and most New England states.
Savings Bank Life Insurance (SBLI) president Robert Sheridan commented: This is a great fit between two consumer-centered organizations, with SBLI’s no-nonsense way of doing business and Sovereign’s Red Carpet Service guarantee for customers complementing one another perfectly.
SBLI boasts assets of $1.7bn and $56bn of insurance in force. Sovereign Bank is a $59 billion financial institution with principal markets in the Northeast US.