For 100 years, Massachusetts has had a special relationship with the Savings Bank Life Insurance company so that basic life insurance policies were available to people of all income levels.   That special relationship is no longer regulated under this new statute which has been signed by the Lieutenant Governor  (acting on behalf of the Governor while the Governor was out of state).

The final bill not only wipes out the “gender neutrality” requirements that have been characteristic for over twenty years, but wipes out the requirement that the company fulfill  “special responsibilities,” such as the regulations that guarantee that the company provide low amount life insurance policies.  (The Governor’s Office says the company has promised to continue offering these same policies; JALSA and other organizations will monitor.)
Notwithstanding the special responsibilities,  this company has enjoyed great profits for the sale of this insurance in Massachusetts.

We thank the many individuals and organizations that worked to the last moment urging the Governor’s staff to recommend a veto.  Unfortunately, we were unsuccessful.   As on many other occasions, equity for women was sacrificed for other goals.

Read  our letter to the Governor.