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finder.com's rating: 3 / 5
★★★★★
18 to 80
Issue Age
$25,000 to $10,000,000
Coverage
Depends on policy
Medical Exam Required
Policies | Term, Return of Premium, No-Exam, Final Expense, Universal Life |
---|---|
Coverage maximum | $10,000,000 |
Term lengths | 10, 15, 20, 25 or 30 years |
Medical exam required | Depends on policy |
Available states | Nationwide |
Issue age | Not listed |
Riders |
Accelerated death benefit rider Accidental death benefit rider Child rider Conversion rider Disability income benefit rider Return-of-premium rider Term insurance rider Waiver-of-premium rider |
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Review by
Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).
Effortless is a useful one-stop-shop to compare over 50 carriers. The system spits out a range of quotes in less than a minute, and caters to those who struggle to find coverage elsewhere. But the marketplace doesn’t include whole or variable life policies, and there aren’t many customer reviews online.
As always, it’s worth comparing life insurance companies on your own.
Effortless doesn’t sell life insurance. Run by brokers, it’s a marketplace that works with over 50 carriers to help its customers to compare policies. It represents big-name insurers like Prudential Financial, Protective Life, Met Life, TransAmerica, Principal Life and Legal & General.
On the site, you can apply for a range of coverages with a face value between $25,000 and $10 million:
Depending on the insurer you go with, you may be able to dress up your policy with the following riders:
The rates vary between insurers, and reflect the age, location, gender and health of the policyholder. However, Effortless has a range of sample rates on its site.
Let’s use a $250,000, 15-year term life policy as an example. According to Effortless, a healthy, 30-year-old female might pay $10.10 a month for a traditional policy. If she opts for a no-exam policy, the price might increase to $11.65. Men tend to pay slightly more for life insurance. A 30-year-old male could expect to pay $10.67 for a traditional policy, or $14.14 if he forgoes the medical exam.
Remember, these rates are based on sample data. To get a better idea of how much you’ll pay, enter your details on the site to get a quote.
Young, healthy applicants often get the cheapest rates. But insurance companies place their own emphasis on things like height, weight, tobacco use and family medical history.
To reach the highest rate class, you’ll typically need to meet these requirements:
Effortless doesn’t have a presence on the BBB or consumer review sites like TrustPilot. On Google, it has a near-perfect rating and glowing reviews about the site’s personalized service and ability to provide online quotes for independent contractors and no-exam policies. There are only a handful of reviews, though, and Google is generally a less credible source than the BBB.
These are the steps to get a quote:
Once you’ve chosen a carrier, a broker will help you to complete the application and schedule your medical exam if you need one. Effortless then sends your application to the insurance provider, who contacts you directly about the next steps.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.