Fabric Review [2021]: Apply for Term Life Insurance in Under 10 Minutes

Fabric makes it easy to apply for term life insurance quickly from an A+ rated insurance provider.
Last updated May 1, 2021 | By Christy Rakoczy
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When you're buying life insurance, it's essential to find a policy that meets your needs. Fabric can help. Fabric makes it easy to apply for an accidental death or term life insurance policy from an A+ rated insurance provider. And if you're wondering whether life insurance is a good investment or you simply need to know how life insurance works, Fabric has a library of answers to help you out.

This Fabric review will help you figure out if this is the best way to apply for life insurance.

Fabric Life Insurance Benefits

  • Policies up to $5,000,000 in coverage
  • No sales calls or agent meetings required
  • Personalized coverage tailored to your needs
  • 10, 15 & 20 year terms

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Fabric Life Insurance basics

Fabric Life Insurance
Type(s) of life insurance offered Term Life, Accidental Death
Coverage amount Term Life: up to $5,000,000
Accidental Death: up to $500,000
Medical exam required No
Term options 10, 15, 20 years
Eligible ages Under 50 years of age
Availability Term Life: All U.S. states except Montana and New York

Accidental Death: All U.S. states and the District of Columbia, except Colorado, Massachusetts, Montana, New York, North Dakota, Pennsylvania, Virginia, and Washington.
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What is Fabric?

Fabric describes itself as a "one-stop-shop for families to help take charge of their finances." Although Fabric doesn't issue insurance policies itself, the policies are backed by Vantis Life.

Vantis Life received an A+ rating from AM Best, which rates insurers based on financial stability. And Vantis Life has been offering life insurance coverage since its founding in 1942, so you can count on it to stand the test of time.

Fabric also offers an app to help you manage money successfully with a spouse or partner. The app helps you securely share financial accounts. Additionally, Fabric provides a free service to create a last will and testament.

What type of life insurance coverage does Fabric offer?

Fabric offers two different kinds of life insurance coverage:

  • An accidental death policy pays a death benefit to your chosen life insurance beneficiary if you are killed in an unexpected accident. It provides three levels of coverage: $100,000; $250,000; or $500,000. Each policy pays only if you die in an accident such as a car crash or fire. You have the option to keep your coverage until the age of 60 and you can cancel any time.
  • Term life insurance provides insurance coverage for a set amount of time. Fabric offers 10, 15, or 20-year term life insurance in most states. These policies are medically underwritten, which means eligibility and premiums depend on your health history. They will also factor in your lifestyle and financial history when determining if an offer for coverage can be made. 

How does Fabric compare to competitors?

Fabric vs. Bestow Life Insurance

Like Fabric, Bestow Life Insurance helps you find insurance coverage rather than issuing policies itself. But Bestow works differently because its aim is specifically to help you find term life insurance coverage, whereas Fabric offers several other options. And for those between the ages of 18 and 59 who are generally in good health, no medical exam is required for coverage with Bestow. Fabric, on the other hand, approves some applicants instantly for term life insurance coverage, though others may need to undergo an exam to get approved.

The table below shows how much a policy would cost from each provider if you purchased $1 million in coverage for a 35-year-old woman in excellent health living in the 33445 zip code.

Life insurance company Term length Monthly premium amount
Bestow 20 years $41.66
Fabric 20 years $35.67

Fabric vs. Ladder Life Insurance

Ladder is another company that helps you get insurance rather than issuing policies itself. When you purchase coverage with Ladder, your policy is issued through Fidelity Security Life Insurance Co. and Allianz Life Insurance Company of New York. Ladder offers term life policies and you cannot get accidental death coverage. Like Fabric, Ladder indicates that some applicants will need a free health check before getting covered.

The table below shows how much policies would cost if purchased from each company for a 35-year-old woman in excellent health living in the 33445 zip code and seeking $1 million in coverage.

Life insurance company Term length Monthly premium amount
Ladder 20 years $39 (estimated)
Fabric 20 years $35.67

Fabric vs. Haven Life Insurance

Haven Life Insurance provides up to $3 million in term life insurance coverage through policies backed by The Massachusetts Mutual Life Insurance Company. Like Fabric, Haven will also help you to make a free last will and testament. Haven's policies are fully medically underwritten. Like Fabric, some applicants under age 60 will be approved instantly with no medical exam, but others must undergo a medical exam.

The below table provides preliminary quotes for $1 million in coverage from both Fabric and Haven for a 35-year-old woman in excellent health living in the 33445 zip code.

Life insurance company Term length Monthly premium amount
Haven 20 years $31.41 with excellent health; $43.87 with good health; or $72.17 with average health
Fabric 20 years $35.67

How to maximize your savings with Fabric 

To get the most affordable coverage possible through Fabric:

  • Apply for coverage early. Apply for coverage when you're as young and healthy as possible, ideally before developing preexisting conditions.
  • Be smart about the protection you actually need. An accidental death policy is generally less expensive than term life insurance, but your beneficiaries will not receive any payment if you die from an illness rather than an accident, and the maximum amount of coverage will be lower.
  • Opt for the shortest policy term that provides the desired protection. If your family will rely on your income only until your children are grown in 10 years, you could save money by buying a 10-year term policy instead of a a 20-year term policy.
  • Choose the lowest death benefit that protects your family. If you don't need $1 million in coverage, opt for a lower payout if something happens to you.
  • Avoid using tobacco products in the year prior to applying for coverage. Smoking or using other tobacco products significantly raises your premium cost.
  • Apply when you're at a healthy weight, if possible.

Common questions about Fabric

How does Fabric work?

Fabric enables you to get quotes and apply for two different kinds of life insurance: accidental death insurance and term life insurance.

Anyone who fits the requirements can get covered by Fabric's accidental death policy and maintain a policy up until age 60 that pays out a death benefit of as much as $500,000. Fabric's term life insurance offering, on the other hand, provides a term life policy for up to 20 years. Some people will be approved immediately for coverage based on their answers to online questions, but others will need to answer follow-up questions or undergo a free health exam to determine coverage eligibility and cost.

Is Fabric legit?

Fabric is a legitimate company. It has partnered with Vantis Life to offer insurance policies. Vantis Life has an A+ rating from AM Best, which rates life insurers based on their financial stability and ability to pay out on claims.

Does Fabric offer permanent life insurance?

Fabric offers a term life insurance policy that can be converted to a whole life policy.

Does Fabric require a medical exam?

You do not need a medical exam for Fabric's accidental death product. Some people will need to undergo a medical exam after applying for term life insurance through Fabric.

How to apply for life insurance through Fabric

Applying for life insurance through Fabric is easy and requires just a few simple steps.

To start, visit Fabric's quote page to input a few basic pieces of information — including your age, gender, state, and health status. Then, click “See Your Estimate” to get some quick quotes.

If you like the prices you see, you can move forward by simply hitting "Continue" below your preliminary quote.

Next, you'll need to answer a series of questions about:

  • Whether you've piloted a non-commercial aircraft in the past three years or plan to do so in the next two years.
  • Whether you've recently engaged in certain activities such as racing, deep sea diving, or bungee jumping
  • Whether you've used tobacco products in the past five years
  • Whether you've been convicted of a criminal offense in the past 10 years or are currently incarcerated or on parole
  • Whether you've been convicted of a DUI or have a revoked or suspended license
  • Whether you've had more than three moving violations in the past three years
  • Your current health status including your height and weight, and whether you've had any recent weight changes
  • Whether you're confined to a nursing home, psychiatric facility, or assisted living facility
  • Whether you've ever been denied life insurance

Here's an example of what some of those questions look like:

Once you've completed the entire online questionnaire and e-signed your application, you'll either be shown the final price for your policy if you qualify for instant approval or will be instructed on what happens next, such as awaiting an email to get further details or schedule a medical exam. You also have the chance to personalize your coverage by changing the term length or coverage amount prior to purchase so you can get the protection that's right for you.

The final word on Fabric

Fabric gives you a choice of coverage options as well as the flexibility to potentially get coverage without having to undergo a medical exam. Premiums are affordable, and the option to convert your policy to whole life sets Fabric apart from other online competitors. Because of all that Fabric has to offer, it's worth getting a free quote to see whether it can help you get the right coverage.

If you’d like to compare more options, take a look at our picks for best life insurance companies.

Fabric Life Insurance Benefits

  • Policies up to $5,000,000 in coverage
  • No sales calls or agent meetings required
  • Personalized coverage tailored to your needs
  • 10, 15 & 20 year terms

Author Details

Christy Rakoczy Christy Rakoczy has a Juris Doctorate from UCLA Law School with a focus in Business Law, and a Certificate in Business Marketing with an English Degree from The University of Rochester. As a full-time personal finance writer, she writes about all things money-related but her special areas of focus are credit cards, personal loans, student loans, mortgages, smart debt payoff strategies, and retirement and Social Security. Her work has been featured by USA Today, MSN Money, CNN Money and more, and you can learn more at her LinkedIn profile.