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Fabric life insurance review 2021
Apply for term life insurance or an accidental death policy in 10 minutes.
finder.com's rating: 3.5 / 5
★★★★★
- Get a quote if… You’re looking for a simple term life policy, or want to buy accidental death insurance right now.
- Pick something else if… You have complex life insurance needs, or if you live in Montana.
21 to 60
Issue Age
$100,000 to $5,000,000
Coverage
Depends on policy
Medical Exam Required
Details
| Policies | Term (w/ option to convert to Whole), Accidental death |
|---|---|
| Coverage maximum | $5,000,000 |
| Term lengths | 10, 15, or 20 years |
| Medical exam required | Depends on policy |
| Available states | Available in all states except NY and MT |
| Issue age | 21 - 60 years old |
Pros
- Quick online application
- Guaranteed approval for Fabric Instant
- Ability to upgrade to a permanent policy
- Credit card payments
- Fabric app
- Financial strength
Cons
- Not nationwide
- Restricted coverage
- Age limits
- Short support window
| Riders |
No riders available |
|---|
Review by
Katia Iervasi
katia.iervasi@finder.comKatia 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).
Expert review
Fabric’s platform is innovative and easy to use, and it offers added-value features — like a free will writing tool. But the insurer has its limitations. If you have complicated life insurance needs, or want to enhance your policy with riders, it may be too simple for you.
In that case, take the time to compare life insurance companies.
Fabric life insurance rates
To get an idea of what you might pay, we pulled sample quotes for a $500,000, 20-year term policy for a person in good health. The amount you’ll pay each month depends on your age, health and other factors.
| Age | Man | Woman |
|---|---|---|
| 21 | $27.07 | $24.15 |
| 25 | $27.07 | $24.15 |
| 30 | $27.91 | $24.78 |
| 35 | $28.74 | $25.40 |
| 40 | $44.40 | $36.05 |
| 45 | $60.06 | $46.70 |
| 50 | $96.81 | $74.68 |
| 55 | $133.56 | $102.66 |
| 60 | $312.54 | $236.58 |
What affects my rate with Fabric?
For the best rates, underwriters assess the following factors:
- Tobacco or nicotine use. To reach Fabric’s best rates, you’ll have to be free of any use of tobacco products, e-cigarettes, nicotine patches or nicotine gum for the past five years.
- Age. Young, healthy applicants tend to pay lower premiums.
- Driving record. To score a cheaper rate, you’ll need to have less than three moving violations on your driving record within the last three years and be free of DUIs or a revoked or suspended license for the past 10 years.
- Criminal record. The best rates are reserved for people free of felonies, or criminal violations on their record.
- Health. The insurer records your cholesterol, blood pressure, BMI and family medical history, and usually charges higher rates when there’s a personal or family history of cardiovascular disease, cancer, diabetes, melanoma, strokes or diabetes.
- Occupation. People with dangerous jobs may pay higher premiums.
- Hazardous lifestyle. Fabric favors applicants with low-risk lifestyles. If you spend your free time scuba diving, skydiving or race car driving, you’ll pay a higher monthly rate.
- Alcohol and drug use. To enter the top-rate tiers, you must have no history of alcohol or drug abuse or treatment within the past 10 years.
How to get a quote from Fabric life insurance
Applying is as easy as filling in an online application. These are the steps:
- From the Fabric website, click Life insurance on the right-hand navbar.
- Press Get started.
- Select your Age and Gender. Click Next.
- Outline your family situation and tap Next.
- Answer questions about your health, tobacco use and whether you have life insurance coverage. Press Next.
- A list of coverage options will pop up, choose the policy that suits your needs and budget. Click Next.
- Fill out the form with your personal details, contact information, beneficiary information and payment information.
If you’ve opted for an accidental death policy it should be issued instantly. Standard term life policies may take three to four weeks to take effect, unless you’ve opted for a no-medical exam policy.
What types of life insurance coverage does Fabric offer?
This online-only company offers two life insurance products. All policies are issued by Vantis Life Insurance Company, a financially strong insurer.
- Term life insurance. This is a 10, 15 or 20-year term life insurance policy, known as Fabric Premium. You can buy coverage between $100,000 and $1 million without a medical exam — and up to $5 million with a medical exam. You can increase your coverage at any time by contacting Fabric. If you want permanent protection, you have the option to convert to a whole life policy with Vantis Life Insurance Company.
- Accidental death insurance. This accidental death policy, called Fabric Instant, is available for people between ages 25 and 45, and coverage terminates when the policyholder turns 60. It’s a month-to-month product, and the policies are issued instantly — without a medical exam. However, a death benefit is only paid if the insured dies accidentally.
What riders can I add to my policy?
Fabric includes an accelerated death benefit rider on its term life policies for free. This rider allows you to access a portion of your death benefit if you’re diagnosed with a terminal illness. However, it doesn’t offer any other add-ons to help you customize your policy, where most competitors do.
Fabric life insurance reviews and complaints
Fabric is accredited with the Better Business Bureau and has an A+ rating for its service and interaction. To date, the BBB hasn’t recorded any customer complaints or reviews.
On TrustPilot, Fabric has a five-star rating based on over 1,500 reviews. Customers commented on the fast, simple application, and the fact that some policies can be issued instantly. They also appreciated Fabric’s added-value features, such as the free will-writing tool and the ability to send your beneficiaries a breakdown of your policy.
| AM Best financial rating |
A+ |
| BBB accredited | Yes |
| BBB rating | A+ |
| Trustpilot score | 4.8/5 out of 1,669 customer reviews |
| Customer reviews verified as of | 20 January 2021 |
Compare life insurance companies like Fabric
To find out how Fabric stacks up to other companies, tick the Compare box and review features for up to four companies side by side.
Frequently asked questions about Fabric life insurance
Life insurance ratings
★★★★★ — 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.
