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Lifefy life insurance review 2021

Get generous term and guaranteed issue policies with this innovative insurer.'s rating: 3.5 / 5


  • Get a quote if… You want to apply for a term life or guaranteed issue policy online.
  • Pick something else if… You live outside one of the states Lifefy services, or you need permanent life insurance.

18 to 60

Issue Age

$50,000 to $350,000



Medical Exam Required


Policies Term life, Guaranteed issue
Coverage maximum $350,000
Term lengths 10, 15 or 20 years
Medical exam required No
Available states Lifefy is not available in the following states: Hawaii, Illinois, Massachusetts, Minnesota, Montana, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Puerto Rico, Utah, Virginia, Washington
Issue age 18 - 60 (or 55 for smokers)


  • Fully online platform
  • No medical exams
  • Quick claims payments
  • Added value
  • Backed by a big-name carrier


  • Limited product line
  • Not available nationwide
  • Not a true guaranteed issue policy
Riders No info available

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).

Expert review

With an aim to make life insurance accessible to more people, Lifefy offers term and guaranteed issue policies online. It’s backed by one of the biggest insurers in the game, and its coverage amounts are generous for instant-approval policies.

But if you live outside one of the 38 states it services, compare life insurance companies.

Lifefy life insurance rates

Like most insurers, Lifefy reserves its best rates for nonsmokers who don’t have high-risk jobs or hobbies, like skydiving, or a serious health condition. Depending on your answers to the health questionnaire, you might be offered a guaranteed issue policy over term life.

How to get a quote from Lifefy life insurance?

To apply for coverage, you have to be a US citizen between 18 and 60 years old (or 55 if you’re a smoker). If you’re eligible, you’ll fill out an online application. It takes about 10 minutes to complete these steps:

  1. Go to the Lifefy website. On the homepage, click Get Started.
  2. Enter your ZIP code. Click Next.
  3. Confirm if you’re a US resident. Click Next.
  4. Indicate whether you have an existing or pending life insurance policy with another company.
  5. Answer questions about your hobbies, health, recent surgeries or hospitalizations, and any treatments you’re undergoing. If you answer no to one of these questions, you’ll be directed to a guaranteed issue policy application, which asks no further questions.
  6. Highlight the extent of your tobacco or nicotine use in the past 24 months.
  7. Enter your height and weight.
  8. Type in your full name, date of birth and occupation.
  9. The system will then generate your final rates, and you can adjust your coverage amount as needed. When you’re happy with the price, submit your application and submit payment through’s secured portal and sign the electronic Docusign.
  10. Once you sign off on your policy, it should be issued instantly. You can then choose to pay your premium monthly or annually.

What types of life insurance coverage does Lifefy offer?

Lifefy sells two types of policies, both underwritten by SBLI:

  • Term life insurance. Available in 10-, 15- or 20-year terms, this term life policy has predictable premiums and a face value between $50,000 and $350,000. It comes with a complimentary accelerated death benefit rider, though you may be charged an activation fee.
  • Guaranteed issue life insurance. Unlike most guaranteed issue policies, Lifefy’s come with an accidental death benefit rider and has a set term of 10 years. Approval is guaranteed, and your beneficiaries will receive $152,500 if you die in an accident, or $2,500 if you die from natural causes.

What riders can I add to my policy?

You can enhance your coverage with these riders:

  • Accelerated death benefit rider. Built into the term life policy, this rider allows you to access half the death benefit if you’re diagnosed with a terminal illness.
  • Accidental death benefit rider. This pays an additional benefit if you die within 180 days of an accident.
  • Waiver-of-premium rider. If you become totally disabled, Lifefy will waive your premiums for at least six months.

Lifefy life insurance reviews and complaints

Lifefy is accredited with the Better Business Bureau (BBB), earning an A rating for its customer service and interaction. To date, the BBB hasn’t recorded any customer complaints. Among customers, the insurer has 5 out of 5 stars — though it’s worth nothing this is based on just one review, as of October 2020.

On TrustPilot, Lifefy has 3.7 out of 5 stars.

Lifefy’s policies are underwritten by the Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI), which has an A+ rating with the BBB.

AM Best financial rating A-
BBB accredited Yes
BBB rating A
5/5 out of 5 customer reviews
Trustpilot score 3.7/5 out of 33 customer reviews
Customer reviews verified as of 22 January 2021

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Frequently asked questions about Lifefy 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.

Learn more about our methodology here.

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