SBLI USA Mutual Life Insurance Company Inc. is introducing a streamlined underwriting system for customers who want to buy whole-life insurance.[@@]

SBLI USA, New York, has started selling 2 whole-life policies that use the new application process, the SmartLife and Easy 1-2-3 policies, in New York state.

The application for the SmartLife policy includes 4 underwriting questions, and the Easy 1-2-3 application asks just 1 health question, SBLI USA says.

Both products provide access to 50% of the death benefit if the applicant becomes terminally ill.

Options include term life riders for spouses and children.

The SmartLife policy will provide up to $150,000 in coverage for individuals age 0 to 75.

The Easy 1-2-3 policy offers up to $10,000 in coverage for individuals ages 1 to 60. That coverage is available even to smokers and applicants with some health problems, SBLI USA says.