The COVID-19 pandemic has interfered with many aspects of our lives, leaving the majority of people worried about their financial future and the future of their loved ones. As a result, parents turned to buying life insurance policies as one of the best ways to leave a legacy.
The real struggle, however, is finding the right policy for you and your family. Choosing the best life insurance depends on many factors, such as your financial goals, budget, age, and overall health, to name a few.
Once you have that sorted out, you can pick from multiple types of life insurance, including a term or a permanent one, one that covers funeral expenses, or one that pays off your mortgage. Whatever it is, with a life insurance policy, you and your family will feel protected and prepared in case of an unfortunate event.
Interested in finding out some more? Keep reading to discover how the process of purchasing life insurance works with one of the best insurance companies out there: Fabric by Gerber Life.
A quick summary
If you are looking for affordable term life insurance or accidental death insurance with a quick and easy setup, Fabric by Gerber Life is the way to go. Its easy-to-use mobile app allows you to draft a will, set up a college savings account, and create a savings fund in no time. The application process is straightforward and takes only 10 minutes of your time.
You can apply for your life insurance online through the mobile app or the website, where the company offers free wills and testaments, too. Check out the quick overview below to see if Fabric by Gerber Life is the way for you.
- Best for: healthy individuals and young parents
- Policy: term life insurance
- Coverage: $100,000 to $5,000,000
- Issue age: 21 to 60 years
- Term length: 10, 15, 20, 25, 30
- Restricted states: CA, NY, SD, ND, SC, FL
Why Fabric by Gerber Life?
Headquartered in Brooklyn’s Dumbo (Down Under the Manhattan Bridge Overpass) neighborhood, Fabric by Gerber Life is an excellent platform for anyone looking to create a will, purchase term life insurance, or open a savings account.
Partners can easily sync finances through the app, access college funds, or share the term life insurance policy details with their beneficiaries.
Pros
Some of the benefits of using Fabric By Gerber Life are:
- User-friendly website and app
- Personalized checklist
- Creation of free wills
- Free online financial tools
- Great customer service support
- 1% of death benefits donated to a charity
- 30-day grace period
- No medical exam needed
Cons
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The drawbacks of using Fabric by Gerber life are not many:
- Limited-term length ( a maximum of 30 years and does not provide whole life insurance)
- Not available in every state
Do you need life insurance?
Whether you are a new parent, a young family keen to secure your children’s financial future, or a person looking to cover funeral expenses, you may want to consider buying a life insurance policy.
In addition, having a life insurance policy will help relieve your dependents from the financial burden of car loans, mortgage or rent, tuition, and credit card bills, among others.
As a parent whose children and partner depend on your income, it’s in everyone’s best interest to buy a life insurance policy or death benefit insurance. If you are not sure what type of policy is best for you, you should consult a financial professional.
