Being a parent and raising kids comes with a lot of stress and uncertainty, and handling complex financial matters can be daunting.
Fabric Life Insurance is designed for young families to help them organize their finances in one single place. It primarily targets parents—a group that always needs life insurance—to get a policy and create a will in the shortest time possible.
Fabric was founded in 2017 and it sells term life and accidental death (AD) policies. These policies are issued by Vantis Life, an A+ rated company by AM Best for financial strength. Plus, Fabric’s will creation tool is free.
Fabric Life Insurance is best for?
- Busy parents: Fabric targets parents who want life insurance without the hassle.
- Short termers: Fabric sells only term life insurance (although you can convert it to a permanent policy through Vantis later).
- DIYers: Fabric makes using its products as easy as possible with online tools.
- Planners: With the term, accidental death, and a free will creation tool, Fabric can be a one-stop-shop for final arrangements.
Fabric’s stand-out features
- Fast Application – Fabric offers quick coverage for busy individuals, and the free will creation is a unique component compared to other companies.
- No Exam Possible – Although it’s hard to be specific, if you answer the health questions with no major red flags and only get up to $1M in coverage, you may not need to take a health exam.
- Maximum 20-year Term – Fabric’s longest-term policy lasts for 20 years. If you want a term length of 25, 30, or even 40 years, Fabric may not be the best insurance company.
- Free Will Creation – While buying life or accidental death policies, Fabric makes it easy to create a will for you and your spouse with its free app. Will creation can be a fairly long process, but Fabric’s app creates a will and even a mirror will for your spouse in about five minutes.
Fabric life insurance policies
Fabric offers 10-, 15-, and 20-year term life insurance policies as well as accidental death policies under the names “Fabric Premium” and “Fabric Instant,” respectively.
|Death benefit payout||Age range||Exam required?|
|Term life (Fabric Premium)||$100K–$5M||21–60||Possibly|
|Accidental Death (Fabric Instant)||$100K, $250K, or $500K||25–50||No (guaranteed acceptance)|
Help secure your family’s financial future. Fabric makes buying life insurance quick, easy, and affordable. No agent meetings required.
Fabric’s rates for younger individuals are competitive with other companies that offer online applications and accelerated underwriting. Fabric may be pricier than the competition for older individuals, so it could pay to price shop if you’re in that category.
Fabric also allows a parent and their spouse to create a free will that’s legally binding in about five minutes. Answer some simple questions and fill out basic personal information, while Fabric walks users through the process step-by-step.
One of the great things about Fabric is that a parent can mirror their will with their spouse, allowing them to create two wills at once. Users can then share details with trusted contacts directly from the app, while controlling who sees what.
Fabric helps manage long-term assets, such as cash, investments, credit cards, and loans — all from a single platform. Many parents have their assets in more than one place, and it’s not always easy to have a clear snapshot of how much money they actually have. But with Fabric, they can conveniently keep tabs on everything through the “Financial vault,” where critical information is stored.
Fabric is an amazing resource for learning more about life insurance and wills. Through the app, users can find answers to common questions like:
- How life insurance works
- What types of life insurance policies are available
- How much coverage they need
- Whether or not they really need a will
This makes it perfect for busy parents who need to know the basics but aren’t sure where to get started.
It’s also a highly secure platform, offering bank-level security, 256-bit encryption, two-factor authentication, automatic lockout, and biometrics. Security is a major concern in this day and age, but users don’t have to worry about their sensitive information being compromised.
If you want to make final arrangement planning as easy as checking out with Amazon, Fabric may be a good fit. Its term policies might be no exam depending on your answers to health questions, and if that’s the case, you may receive your policy the same day you apply for it.