Fabric Life Insurance Review: Apply for Term Life Coverage in 10 Minutes or Less

Fabric makes it easy to buy term life insurance quickly from an A+ rated insurance provider.
Last updated Jun 17, 2020 | 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 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 life insurance review will help you figure out if this is the best life insurance company for you.

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What is Fabric Life Insurance?

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 site will instead help you get covered 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, called Fabric Instant, 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.
  • A term life insurance policy, called Fabric Premium, provides 20-year term life insurance coverage. These policies are medically underwritten, which means eligibility and premiums depend on your health history. You also have the option to convert your term life coverage to a whole life insurance policy, which will remain in effect as long as you continue paying premiums.

How does Fabric Life compare to other online insurers?

Fabric vs. Bestow Life Insurance

Like Fabric Life Insurance, 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 21 and 55 who are generally in good health, no medical exam is required for coverage with Besow. 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 healthy 35-year-old woman 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, like Bestow, and you cannot get accidental death coverage or convert your policy to a whole life one. 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 insurer for a 35-year-old woman 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. However, Haven offers only term life coverage, whereas Fabric provides accidental death policies as well as term life coverage with the option to convert to a whole life policy. 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 healthy 35-year-old 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 Life Insurance

To get the most affordable coverage possible from Fabric Life Insurance:

  • Buy coverage early. Purchase 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, don't buy a 20-year term policy because you won't need coverage after a decade.
  • 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 Life Insurance

How does Fabric Life Insurance work?

Fabric enables you to get quotes and sign up online for two different kinds of life insurance: Fabric Instant, which is accidental death insurance, and Fabric Premium, which is term life insurance coverage.

Anyone can get covered by Fabric Instant and maintain a policy up until age 60 that pays out a death benefit of as much as $500,000. Fabric Premium, 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 Life Insurance legit?

Fabric Life Insurance is a legitimate company. It has partnered with Vantis Life to offer insurance policies. Vantage 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 Premium is a term life insurance policy that can be converted to a whole life policy.

What is the difference between permanent and term life insurance?

Permanent life insurance, or whole life insurance, remains in effect for life as long as you continue paying premiums. Premiums cost more than the actual expense associated with insuring you, and some of this money is invested for you so your policy accrues a cash value. Term life insurance has much lower monthly premiums than permanent life insurance, it isn't an investment vehicle, and it stays in effect for a limited number of years. If you pass away during your term of coverage, your beneficiaries will receive the death benefit. If you don't, your insurer will not pay out any benefits.

Does Fabric require a medical exam?

You do not need a medical exam for Fabric Instant. Some people will need to undergo a medical exam to get Fabric Premium term life insurance.

How to sign up for Fabric Life Insurance

Signing up for Fabric Life Insurance is easy and requires just a few simple steps.

To start, visit Fabric's Pricing 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, you'll either receive instructions to sign up for a policy if you get instant approval or will be instructed on what happens next, such as awaiting a phone call 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 so you can get the protection that's right for you.

The final word on Fabric Life Insurance

Fabric Life Insurance gives you a choice of coverage options as well as the flexibility to buy some policies 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.