Who Is Fabric Best Suited for?

Fabric is ideal for relatively young adults who have recently started a family. This company’s intuitive website makes it easy to assess your family’s financial needs and get the most suitable coverage.

If you’re looking for user-friendly online insurance-related tools, Fabric is an excellent choice. It offers an intuitive app with different features. You can calculate your insurance coverage based on your current needs, create a legal will in only a few minutes, apply for insurance policies, and share insurance policy updates with your spouse.

Fabric Features

Fabric offers term life insurance with variable term lengths from 10 to 30 years. The coverage for this type of insurance is between $100,000 and $5,000,0000. The prices vary based on the coverage you choose, your lifestyle, and demographics. The minimum price starts at $13.71 per month.

Fabric offers a fast and user-friendly online application process. The application takes around 10 minutes to complete.  The company also offers accidental death insurance policies starting at $6 per month for up to $100K of coverage. You can also get 529 plans and open savings accounts through Fabric.

This online insurer also provides an intuitive app if you want to apply for life insurance easier or use other Fabric tools such as the will creator or insurance estimator tool.

Fabric’s insurance policies are issued by a Penn Mutual Company, Vantis Life.  Penn Mutual is the second-oldest life insurance company in the country, having an expertise of 174 years.

Fabric Highlights 

Fabric provides term life insurance of up to $5,000,0000 you can convert into whole life insurance when your policy expires and accidental death insurance. Other Fabric services include online wills, high-yield savings accounts, and 529 plans.

The company’s term life insurance is flexible and easy to apply for in only 10 minutes. Some applicants get approved right away. Medical exams are usually not necessary.

The accidental death insurance has you covered up to the age of 60. The coverage limit is $100k.

Fabric also offers an intuitive app and a free online will tool. It enables you to create a will in 5 minutes. You can make sure your kids will be safe if you pass away as you can name a guardian and make the will legally binding.

How It Works – Application Process

Fabric offers a user-friendly insurance estimation tool that helps you understand whether life insurance is suitable for you. To use it, you have to go through several questions such as:

·         Do you have a spouse or partner?

·         Do you have kids under 18?

·         Do you have a will or life insurance?

After you finish answering all the questions, the platform will provide you a recommendation, for example, term life insurance, and then offer you the possibility to quickly apply for one.

The application process is as fast and easy as this initial evaluation. You start by choosing the amount of coverage you want to get. The range is between $100,000 and 5,000,000 for a term life policy. Then, you have to select your state from a dropdown list, fill in your age, and choose your hobbies from a list of sports and activities such as hang-gliding, parachuting, or piloting. You will also have to state whether you’re a smoker or not. Several other questions on whether you violated any laws or have been convicted are also included. Then, the questions about your age, gender, and health follow. At the end of the questionnaire, which should take around 10 minutes to complete, you will get an insurance proposal.

Types of Policies and Terms

Fabric’s term insurance varies from 10 to 30 years. You can choose from 10, 15, 20, 25, and 30-year terms. The prices vary accordingly. The company offers policy price examples on the website for a 20-year term life insurance policy:

·         $14.61 per month for a 29-year-old woman in excellent health and coverage of $250K

·         $34.17 per month for a 35-year-old man in excellent health who wants coverage of $750K

·         $41.61 per month for a 42-year-old woman in excellent health applying for $500K coverage

Usually, Fabric doesn’t require medical exams. However, if you have to take a medical exam, the insurer will pay. It will send a professional where you work or live for the medical exam that will involve a blood draw and answering a few questions.

After the term life expires, you can convert it into whole life insurance. You have to ask for the conversion before you turn 65.  

Fabric also offers accidental death insurance for people between 50 and 60. When you reach 60, the coverage automatically ceases. Applying for this insurance only takes around two minutes. The types of death covered by this policy include

·         Fire

·         Car accidents

·         Commercial air crash

·         Murder

·         Bike crash

How Safe Is It

Fabric is a reliable and safe company. It is rated A+ for financial strength by A.M. Best. The insurance policies Fabric issues are backed by one of the most reputable leaders in the insurance industry, Vantis Life, a company powered by the Penn Mutual Life Insurance Company.  Pen Mutual was founded in 1847 in Philadelphia.

Fabric also has an excellent score of 4.8 stars out of five on Trustpilot. The company’s website is secured using the latest 256-bit encryption technology, adaptive security tools that assess cyber risk in real-time, and two-factor authentication.

Help and Support

You can get help from the Fabric team by accessing the live chat option from the menu icon in the right-hand top corner. The staff is friendly and knowledgeable, and they can guide you throughout the application process and answer any questions. You can also contact the team by email at support@meetfabric.com or call them at (917) 765-3572. The website is comprehensive, with lots of FAQs and insurance-related insights.

Fabric at a Glance

Fabric is an excellent choice for young adults looking for term insurance coverage for up to 30 years. The policies are flexible, and you can also convert them into whole life insurance. Accidental death insurance is also available. This direct insurance carrier offers a fast and easy online application process, a secured website, and reliable customer support service.  

Physical Address

20 Jay St., Ste. 438

Brooklyn, NY 11201

Disclaimer

This website contains information about various life insurance companies. It is designed to provide help and guidance. Different details included in our revies, such as prices or insurance terms, may change over time. The information provided on this website does not constitute legal or professional advice, and our readers should not treat it as such.

Why We Chose Fabric

We chose Fabric for its multiple financial services that are not limited to life insurance. This company also helps you create a will or open 529 plans or savings accounts. It also provides accidental death insurance and the possibility to extend term insurance into whole life insurance.