Fabric is an online term life insurance provider that has streamlined the process of getting life insurance. With a focus on families, they make the process of getting life insurance easy.

Although, while the process is easy, they do seem a little bit behind other online term life insurance providers. They don’t completely eliminate medical exams, and have limited policy choices.

However, Fabric may be a strong contender for you, and it only takes about 10 minutes to get a quote. Check out Fabric here or read our Fabric review below.

Fabric Life Insurance

Quick Summary

  • Online term life insurance company
  • May require a medical examination
  • Also offers an accidental death policy

Fabric Life Insurance Details

Product Name

Fabric Premium Life

Min Premium


Policy Amounts

$100,000 to $5,000,000

Insurance Types

Term Life, Accidental Death

Medical Exam Required?


What Is Fabric Life Insurance?

Fabric is an InsureTech life insurance company that allows applicants to complete the signup process online. Fabric removes the traditional system of agents and brokers from the equation.

The company co-founders are Adam Erlebacher and Steven Surgnier. Fabric was founded in 2015 and is based in Brooklyn, NY. It was funded by a seed round of $2.5 million in 2017 and a series A round of $10 million in 2018.

Policies are issued by Vantis Life, a Penn Mutual company, which was established in 1847. Vantis Life is wholly owned by Penn Mutual, which is the second-oldest mutual life insurance company in America. Vantis Life has an AM Best “A+” (“Superior”) rating.

Fabric has a Trustpilot 4.8/5 rating out of 1,271 reviews. The company doesn’t have a BBB.org profile.

“Fabric takes a completely different, modern approach. If you have a question, you can chat with one of our licensed insurance professionals and fill out an application in minutes — [sic] entirely online. We’ve also helped alleviate the issue of unclaimed life insurance benefits, as that’s a tragedy if it happens even once. That’s why we empower our customers to grant their spouse beneficiaries access to their policy details online. That way, beneficiaries always have access to up-to-date coverage information and a direct way to access Fabric support,” said Erlebacher, in an interview with The Native Society.

What Do They Offer?

Fabric offers term life insurance, which it calls Fabric Premium. On its website, you can get an insurance estimate in about a minute. The full application process takes between 5 and 10 minutes.

Depending on your health, you may not be required to take a health exam. If no exam is required, Fabric can offer you coverage immediately.

Fabric offers 5-, 10-, and 15-year policy terms. Policies range from $100,000 to $5 million in increments of $50,000.

Fabric’s life insurance policy covers death caused by the following:

  • Fire
  • Homicide
  • Vehicular crashes
  • Illness (i.e., heart attacks)
  • Cancer
  • Diabetes
  • Natural causes

However, committing suicide within two years of the policy’s issue date is not covered. Misrepresenting yourself voids your policy.

Residents of New York and California must purchase Fabric Instant, which is an accidental death insurance policy. Those residents can then upgrade to Fabric Premium. Unfortunately for Montana residents, neither Fabric Premium nor Fabric Instant is available.

Fabric Instant is only available to people between the ages of 25 and 50. Once you begin paying each month for Fabric Instant, you can keep the policy until you are 60 years of age.

You can convert your Fabric Premium term life insurance policy to whole life insurance.

Filing a Claim

To file a beneficiary claim, have the death certificate available and submit it with your claim. If no investigation is needed, claims are paid within three business days of the claim being processed.

Claims are filed by sending Fabric a message and completing an Initial Death Claim Notification. The claim must be filed within 20 days of the insured’s death.

What Do Fabric’s Policies Cost?

Fabric provides three examples of real people who received 20-year term life insurance policies:

  • A 29-year-old female in excellent health with $250,000 of coverage: $14.61/month
  • A 35-year-old male in excellent health with $750,000 of coverage: $34.17/month
  • A 42-year-old female in good health with $500,000 of coverage: $41.46/month

You can probably see the trend — the younger and healthier you are, the less you’ll pay in insurance. Being an InsureTech firm, Fabric uses algorithms to determine how much risk it is taking on by insuring you. If the risk is low, an offer is made. If not, humans must step in and look at the application more closely.

Unlike many other insurance companies, Fabric allows you to pay for your policy using a credit or debit card. So if you are into racking up points by using your credit card, this is another great way to do it. Just remember to update your Fabric payment method if the card expires. Otherwise, your policy can be canceled because of nonpayment.

How Do I Get Started?

To get an estimate and fill out an application, go here.

Is My Information Safe?

Yes. Fabric uses 256-bit encryption on its website and does not share your information with third parties.

Is It Worth It?

Fabric is a credible company, and its policies are written by one of the oldest insurance companies in the industry. That said, shopping around may reveal lower term life insurance policies. Shopping around can be time-consuming, but it can also save you money.

If you like the terms, price, and customer service provided by Fabric, it may certainly be worth it to sign up with them.

The post Fabric Life Insurance Review: Family-Focused Online Insurance appeared first on The College Investor.

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