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Simplified Life review 2020

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Compare and apply for term life policies in 5 steps.

finder.com’s rating: 5.0 / 5.0

★★★★★

  • Get a quote if you want to compare several term life policies from different providers.
  • Pick something else if you’re interested in whole or universal life insurance.

18 to 80

Issue Age

$25,000 to $10,000,000

Coverage

Depends on provider and policy

Medical Exam Required

Details

Free quote Phone, Online form
Policy options Term life insurance
Term lengths 10, 15, 20, 25, 30, and Lifetime
Monthly cost Not listed
Claim methods Ask carrier
Ratings BBB: A
Available states All 50 states
Customer support Phone: (866) 638-9356, Online form
Riders Depends on carrier

Expert review

Rhys Subitch

Review by


Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.

Expert review

With more than 40 carriers in its stable, Simplified Life can help you compare simplified issue term life insurance quotes from multiple insurers.

But there’s no guarantee you’ll find what you’re looking for. To find the best fit you’re eligible for, compare life insurance options before settling on a policy.

What types of insurance coverage does Simplified Life offer?

Instead of providing insurance directly, Simplified Life allows you to submit one form to see policy options that match your needs from several different carriers. But options are limited to simplified issue term life policies.

  • Simplified issue term life. You can typically find terms of 10, 20 or 30 years. Some policies allow a return of premium at the end of the term, but usually at a higher cost. Simplified issue is more streamlined than traditional policies and doesn’t require a medical exam.

What riders can I add to my life insurance policy?

You could potentially add any number of riders, because Simplified matches your needs to policies through third-party insurers. Simplified Life’s network of more than 40 carriers includes AIG, Assurity, Mutual of Omaha, Principal, Protective and Transamerica.

Some of the riders offered by partner carriers include:

  • Accelerated access. Pays out your full benefit under specific circumstances while you’re still alive. The payout is tax-free and generally comes with the diagnosis of a chronic illness.
  • Additional insured and child. Covers additional family members on your policy. Benefit payouts are typically much smaller than the primary policyholder’s.
  • Decreasing coverage. Decreases your coverage with lower premiums over time to mirror decreasing debt obligations, like mortgages, as you age.
  • Estate protection. Extends protection to cover estate taxes applied to your death benefit.
  • Final expense. Provides an additional payout to cover funeral expenses.
  • Lifestyle income. Allows you access to your death benefit if you outlive your retirement.
  • Return of premium. Refunds your premiums or a portion of your premiums on select terms if you outlive your policy.
  • Waiver of premium. Extends coverage without premiums if you become fully disabled.

How can I get the lowest rate?

You’ll find different criteria for acceptance with each carrier. Weight, major traffic violations or criminal convictions may be weighed more or less severely, depending on the insurer.

General qualities used to assess your risk profile across the board include:

  • Driving or criminal convictions. Time from last conviction and how many you have are used to evaluate your risk.
  • Family health history. Your family’s health history is out of your hands. But if it’s a concern, you may find a carrier that doesn’t consider it heavily.
  • Recent bouts with a serious illness. If a serious medical condition or illness is temporary, it may be worth waiting to apply for life insurance. Consult with an agent before choosing a provider.
  • Tobacco or alcohol use. When you last used and how frequently you use is often considered, but even infrequent tobacco use can increase your premiums.
  • Your health criteria. Everything from your weight to psychiatric diagnoses can be included in your risk assessment.

Pros and Cons of Simplified Life

Pros

  • No medical exam. Apply without blood work or a medical exam.
  • Multiple options. Compare up to 40 providers with one simple application online or over the phone.
  • Dedicated agent. Work with a Simplified Life agent to find the best fit for your situation.
  • Fast approval. Get a decision within minutes and coverage not long after you’re approved.

Cons

  • Term life only. Whole and universal life insurance policies aren’t available for comparison through Simplified Life.
  • Site issues. The glossary, FAQ and even contact form can be glitchy.
  • Little online presence. You won’t find much in the way of online reviews or customer experience.

Compare other life insurance companies

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Simplified Life reviews and complaints

As of February 2019, the Better Business Bureau (BBB) shows no complaints or reviews for Simplified Life. Even so, the BBB gives it an A rating on the basis of its time in business — though it hasn’t accredited Simplified Life.

How does Simplified Life protect my data?

Personal information is protected by Secure Sockets Layers protocol, which encrypts your data. The website is also protected by the online security provider SiteLock.

How do I sign up?

Click Get free quote at the top of the Simplified Life homepage and complete the form with:

  • Your state of residence
  • Your health class
  • Your birthdate and gender
  • Whether you use tobacco or smoke
  • The type of insurance and amount you want
  • Your name, phone number and email address

Simplified Life insurance application process

After you submit the quote form, you’re taken to a rate comparison table based on the information you provided. You can also check different coverage amounts and terms with this table.

I’ve signed up. What happens next?

Take these five steps to apply for a policy using Simplified Life:

  1. Review your options. Use the comparison table to shop for a plan that meets your budget and needs.
  2. Fill out the application. Include your mailing address, and include any comments.
  3. Wait for an agent to call. Simplified Life will call to answer any questions you might have and discuss the plan you selected.
  4. Confirm your selection. After you receive the your policy details and confirmation document, sign and return it electronically.
  5. Get a decision in minutes. If you’re approved, your coverage kicks in shortly after.

You can also sign up and apply over the phone with a licensed agent at 866-638-9356.

More about Simplified Life

Simplified Life was established in 2016 as a way to compare and apply for simplified issue term life insurance only. It’s part of a bigger digital brokerage general agency out of Austin, Texas, that supports independent life insurance agents through a telesales platform online.

Frequently asked questions

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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