While we would rather not think about it, we all know that death is as sure as taxes, and as such we want to ensure that our loved ones are left with a measure of security, particularly if those loved ones include young children.
Statistics have shown that only approximately 54% of Americans have life insurance, and many of those don’t have enough. (Experts generally recommend a policy that will pay out at least 5x your annual salary.) 40% wish that they had purchased policies at a younger age.
If you’re a young family just starting out, life insurance may be the last thing on your mind, but Fabric believes it’s an optimum time to start thinking about the future. Geared towards parents with little ones (although anyone can benefit), Fabric offers affordable term policies of varying coverages with 10-, 15-, or 20-year terms. It is available 24/7 and uses an algorithm to speed up the underwriting process. Their policies are issued by Vantis Life, a Penn Mutual company.
In order to get started, Fabric has designed a simple quiz that will tell you if term life insurance is right for you. If you are satisfied with the results, you can submit a 10-minute application and if you qualify, you’ll get an instant offer. Should more information be required, Fabric makes the next steps as seamless as possible.
Beyond life insurance, Fabric offers a free will service, allowing you to draw up your last will and testament online and name a guardian, all within a short period of time. Fabric will then explain how to make it legally binding, adding another layer of security for your family. They additionally provide a digital vault for spouses to share financial account information in their mobile app.
So if you are tired of pesky sales people constantly trying to upsell you with policies you don’t need or filling out lengthy forms, this digital life insurance startup could be for you. With easy online management tools, including a user-friendly website and app, Fabric may be the appropriate choice.
Available in all states across the US, except New York, and Montana, it is even available risk-free with a 30-day money-back guarantee. Let Fabric help you protect your family.
