Life Insurance

• Insurance Type – Life Term
• Age Requirements – 21 – 55
• Terms – 10 years, 20 years
• Coverage – Up to $1,000,000
• Medical Exam – No

Unique Selling Point:
Lemonade focuses on giving customers a fast, easy and efficient access to coverage. New users can sign up completely through the app or website, and get fully covered in 5 minutes with no physicals.

Who is this app for:
If you’re looking for a quick, simple, hassle-free way to provide a safety net for your family, than Lemonade term life insurance may be for you. Lemonade offers plans starting from $9 a month, with coverage up to $1,000,000. Lemonade also allows you to cancel any time, so you’re not locked into a long-term contract. Additionally as a Public Benefit Corporation and a Certified B-Corp, Lemonade puts a large focus on creating positive social change. 

Bonus points:
– With their transparent flat fee pricing structure and Giveback feature, Lemonade gives unclaimed money to nonprofits chosen by customers.

Fintech Pros :
– With the Lemonade app, you can manage your Homeowners/Renters insurance, Pet insurance and Life insurance all in one place.

Fintech Cons:
– None

• Insurance Type – Term, whole, universal, variable universal, simplified issue, guaranteed issue
• Age Requirements – 18 – 100
• Terms – 10 years, 15 years, 20 years, 25 years, 30 years
• Coverage – $100,000 – $500,000
• Medical Exam – Optional

Unique Selling Point:
Sproutt’s Quality of Life Index questionnaire  assesses your lifestyle and provides a personalized set of suggestions, recommendations, and references based on cutting edge medical research and can make suggestions to help you improve your quality of life.

Who is this app for:
If you’re someone who wants a personalized life insurance that recognizes their healthy lifestyle habits and offers a broad array of terms and policy options, Sproutt may be a good choice for you. Sproutt acts as broker and looks at multiple different underlying insurance companies in order to provide you with the best deal. While people of almost any age can apply for Sproutt, it generally favors younger users when it comes to getting the best rates. If you’re under 45 and you’re looking to provide a medium to long-term safety net for your family, Sproutt is a solid which allows you to get a quote entirely online in under 15 minutes.

Bonus points:
– For many plans, the process from start to finish is completely online, with no medical exam, in-person interviews or forms to sign (although a phone interview may be required.

Fintech Pros :
– None

Fintech Cons:
– None

• Insurance Type – Life Term
• Age Requirements – 20 – 60
• Terms – 10 years, 15 years, 20 years, 25 years, 30 years
• Coverage – $100,000 – $8,000,000
• Medical Exam – Varies

Unique Selling Point:
Ladder focuses on giving customers the ability to adjust their coverage over time as their needs change without having to re-apply for a new policy.

Who is this app for:
If you’re at an early stage in your career, or you foresee changes in your family circumstances in the coming years, than Ladder life insurance may be for you. Ladder offer plans with coverage amounts that are highly flexible and can change over time as your needs change. Ladder also offers coverage up to $8,000,000, one of the highest amounts of any insurer. With it’s flexible terms, high coverage options and hassle-free online application process, Ladder is a good choice for those who want a quick and easy way to provide a future-proof safety net for their family.

Bonus points:
– Ladder offers a life insurance calculator on their website, allowing you to calculate exactly how much coverage you will need at your particular stage in life.

Fintech Pros :
– With the Ladder iOS app, you can connect to your Apple Health data which may help to get you a lower premium.

Fintech Cons:
– Ladder does not currently offer an Android app.

• Insurance Type – Life Term
• Age Requirements – 18 – 64
• Terms –  10 years, 15 years, 20 years, 25 years, 30 years
• Coverage – $100,000 – $3,000,000
• Medical Exam – Varies

Unique Selling Point:
Haven Life provides coverage for people up to age 64 – a much higher age limit than many other providers.

Who is this app for:
If you’re looking for a straightforward life insurance policy with a wide range of coverage and term options that is completely online, then Haven life may be for you. Haven Life’s online application is easy to follow and in many cases, you won’t need a medical exam to get coverage. With terms up to 30 years, Haven Life offers a quick and easy way to give your family a long term safety net without any hassle.

Bonus points:
– With Haven Life Plus, all Haven Life customers can get access access to additional benefits to help them and their families, such as discounts on health and fitness apps and medical care.
– Haven Life offers a life insurance calculator on their website, allowing you to estimate how much coverage you will need based on your own circumstances and get a quote for coverage.

Fintech Pros :
– None

Fintech Cons:
– None

• Insurance Type – Life Term
• Age Requirements – 21 – 60
• Terms – 10 years, 15 years, 20 years
• Coverage – $100,000 – $5,000,000
• Medical Exam – Varies

Unique Selling Point:
Fabric allows you to create a free, legally-binding will online for you and your spouse in as little as 5 minutes.

Who is this app for:
If you are looking for a comprehensive life insurance policy that is digital first and offers a high level of coverage, than Fabric may be for you. While anyone can apply for life insurance cover from Fabric, they are particularly tailored to parents, with a focus on young families. Fabric offers coverage up to $5,000,000 – multiple times higher than many other insurers (although for coverage above $1,000,000, you will need a medical exam). Additionally, for certain policies Fabric also offers the option to transition your term life insurance policy to a whole life insurance policy, allowing for a permanent life insurance solution in the future without any hassle.

Bonus points:
– In addition to life insurance, Fabric also offers accidental death insurance policies.

Fintech Pros :
– With the Fabric app, you get lots of tools to plan your family’s financial future, including will and estate planning, education funds, rainy day funds and tools that help you share financial information with family members for emergency situations, alongside managing your life insurance policy.

Fintech Cons:
– None

• Insurance Type – Life Term
• Age Requirements – 18 – 75
• Terms – 10 years, 15 years, 20 years, 30 years
• Coverage – $25,000 – $10,000,000
• Medical Exam – Variable

Unique Selling Point:
With Ethos you can get life insurance coverage up to $10,000,000, multiple times higher than most other insurers.

Who is this app for:
If your you’re looking for a comprehensive life insurance policy with the option of high coverage and the option to add various riders to customize your plan, than Ethos may be for you. In addition to it’s large coverage potential, Ethos also offers riders such as Critical Illness, Child Term, Premium Waivers and an Endowment Benefit Rider. These allow Ethos users to adapt their coverage in whatever way suits their own circumstance. With it’s broad age range, flexible coverage options and fast online application, Ethos gives people from all sorts of backgrounds a quick and easy way to provide a complete and comprehensive safety net for their family.

Bonus points:
– With the Ethos For Good program, Ethos puts a strong focus on charitable efforts and giving back to communities in need.

Fintech Pros :
– None

Fintech Cons:
– None

• Insurance Type – Life Term
• Age Requirements – 21 – 45
• Terms – 10 years, 20 years
• Coverage – $50,000 – $1,000,000
• Medical Exam – No

Unique Selling Point:
With Bestow, you can get a quote for life insurance in under a minute, and get full coverage in just 5 minutes.

Who is this app for:
If you’re looking to get covered with term life insurance almost instantly, completely online and without any medical exam, then bestow may be a good choice for you. Bestow offers 10 and 20 year term life insurance at competitive rates for customers aged under 45. You can get a quote, set up your policy and adjust your policy hassle-free through the bestow website. Bestow will likely appeal to those that have not taken out a life insurance policy previously and are looking for a quick and easy way to make plans for the future and get set up with medium to long term coverage.

Bonus points:
– Through the Bestow Foundation, Bestow gives back to communities in need.

Fintech Pros :
– None

Fintech Cons:
– None