[ad_1] Life insurance is about making final provisions for your loved ones in the event of your death. But there’s more involved in those provisions than just life insurance. And that’s where Fabric by Gerber Life can help. Not only does Fabric offer life insurance policies – and some of the largest available anywhere – but they also help you through the process of making your final arrangements, and they do it free of charge. That includes drawing up a will to name a beneficiary, appointing a guardian for your children, and spelling out your final arrangements. In this Fabric by Gerber Life review, I’ll cover some recent changes to the company and let you know how it stacks up to the competition. Table of Contents Announcement: Fabric is now Fabric by Gerber Life Key Takeaways About the Company Unique Features Who is Fabric Life Best For Types of Insurance Offered by Fabric by Gerber Life Is Fabric by Gerber Life Legit? Is Fabric a Good Company? Fabric by Gerber Life Alternatives How to Use Fabric to Shop for Life Insurance How to Save Money on Life Insurance Final Thoughts on Fabric by Gerber Life Insurance Fabric Life Insurance FAQs Announcement: Fabric is now Fabric by Gerber Life On October 11, 2022, Fabric announced on its website that they are now Fabric by Gerber Life, owned by parent company Western-Southern Life Assurance Company. Aside from a new name and branding, customers’ biggest change is that Western-Southern Life will now issue Fabric’s insurance policies instead of Vantis Life Insurance Company. In a news release on their website, Fabric by Gerber Life assured customers that they will receive “the same digital convenience that you expect from Fabric.” With the news, Fabric by Gerber Life also informed customers that they can apply for a new or additional policy through an updated application experience. If you are already a policyholder, there is no change to your existing coverage. Note: Because of this recent news, other changes made by Fabric as a result of their move to Western-Southern Life may not be reflected in this review. We will do our best to keep our information current but double-check with Fabric by Gerber Life if you have questions. Key Takeaways Fabric by Gerber Life is a direct provider of life insurance, not an online insurance marketplace. The company offers accidental death policies, free will preparation, and the ability to set up 529 college savings plans for your children. The application process takes about 10 minutes, can result in immediate approval, and generally does not require a medical examination. Fabric’s maximum death benefit of $5 million is at the high end of the online life insurance provider range. About the Company Fabric by Gerber Life is a subsidiary of Western-Southern Life Assurance Company The company offers accidental death insurance in addition to term life insurance. Though coverage is available for applicants between the ages of 21 and 60, Fabric strongly focuses on providing family life insurance. Customer service is available by phone, email, and live chat, Monday through Friday, from 9:00 AM to 6:00 PM, Eastern time. The company issues policies in 48 states (excluding New York and Montana). Unique Features Fabric is a “fintech” insurance provider with an all-online application process that relies heavily on advanced algorithms. You can get a quote in a few minutes or complete an application in about 10 minutes. Because Fabric relies heavily on information provided by available databases (the Medical Information Bureau, your state department of motor vehicles, pharmacy benefit managers, consumer reporting agencies, and other publicly available sources), the need for a medical exam is often eliminated. Fabric by Gerber Life has licensed team members available to answer your questions and help you through the application process. Once issued, policy offers are valid for 60 days, giving you plenty of time to review the policy before accepting it. Even if you purchase the policy, you’ll have 30 days to decide if you want to keep the coverage or not. If you decide you don’t want it, you’ll be entitled to a full refund of the premium paid. In addition to term life and accidental death insurance, Fabric offers free will preparation online. That includes appointing a guardian for the dependent children, naming beneficiaries, and making final arrangements. You can open a 529 college savings plan for your child(ren) directly from the Fabric Life Insurance website or mobile app. Fabric offers a mobile app to track your policy for Android and iOS users. Who is Fabric Life Best For Fabric by Gerber Life is an excellent choice for the following applicants: looking for term life insurance rather than a whole life insurance policy. require a life insurance policy in a hurry. prefer life insurance without the need for a medical exam. also want accidental death insurance Need coverage for both themselves and their spouse. could benefit from a comprehensive financial plan Types of Insurance Offered by Fabric by Gerber Life Fabric offers two types of life insurance: term and accidental death coverage. Here’s a closer look at each one. Term Life Insurance Term life insurance policies provide a death benefit only, with no cash value accumulation or investment provision. That means premiums are only a fraction of what they are for whole-life insurance policies. Lower premiums mean you can purchase more coverage at a lower cost. Fabric by Gerber Life term policies are available for applicants and their spouses between the ages of 21 and 60. Policy face values range between $100,000 to as much as $5 million. Because of the reliance on algorithms and available databases, a policy can be available in as little as a few minutes. But if additional information or a medical exam is required, the process will take several days longer. If a medical exam is required, an appointment will be scheduled with a qualified examiner to come to your home or office at no cost to you and on your schedule. Because an
