Like other insurance companies, Lifefy Life Insurance sets its best rates for nonsmokers who do not engage in dangerous occupations or hobbies like skydiving or have a serious health issue. Based on your answers to the health questionnaire, you may be granted guaranteed-issue life insurance rather than term life insurance.
- How to get a quote from Lifefy life insurance?
- What types of life insurance coverage does Lifefy offer?
- What riders can I add to my policy?
- Lifefy life insurance reviews and complaints
How to get a quote from Lifefy life insurance?
Applicants must be US nationals between the ages of 18 and 60, or 55 if they are a smoker. In order to apply, you must submit a web-based application. At the very least, you’ll need 10 minutes to complete this activity.
- Visit Lifefy’s website to learn more. To get started, go to the main page and click on the Get Started button.
- Type in your ZIP code to see where you are located. Please click “Next” to continue.
- Find out if you’re a U.S. citizen or legal resident. To continue, simply click the Next button on your keyboard.
- Tell us whether you have a current or pending life insurance policy with another company.
- Discuss your hobbies, health, and any treatment you’ve recently had or are undergoing. One of these questions might result in you being directed to an application for guaranteed-issue insurance if you don’t answer it correctly.
- The last two years of cigarette or nicotine consumption should be highlighted.
- Please fill out the following blanks with your current height and weight.
- Include your first and last name, birth date, and work title in all sections (if applicable).
- Your final rates will be calculated and you may make any required adjustments to the coverage amount at this point. When you’re happy with the cost, use Authorize.net’s secure site to send your application and payment. Then, use Docusign to electronically sign your contract.
- Once you’ve approved it, the insurance company should issue your coverage right away. After that, you can choose to pay monthly or annually for your insurance premium.
What types of life insurance coverage does Lifefy offer?
Lifefy plans sold by SBL Insurance Company (SBLI) are in two varieties:
- Term life insurance. The face amount of this term life insurance policy runs from $50,000 to $350,000, and the premiums are fixed. However, you may have to pay an activation charge to get the free death benefit rider active.
- Guaranteed issue life insurance. Lifefy insurance features a 10-year term with an accidental death benefit rider, unlike other guaranteed-issue plans. Your beneficiaries will get $152,500 if you die in an accident or naturally, but just $2,500 if you die of old age.
What riders can I add to my policy?
Protect yourself with these add-ons:
- Accelerated death benefits riders. Term life insurance riders like this one allow you to get half of your policy’s death benefit if you’re diagnosed with a terminal illness.
- Accidental death benefit rider. If you die within 180 days of the accident that gave rise to the benefit, you will get a death benefit.
- Waiver-of-premium rider. If you become completely disabled, Lifefy will waive your premiums for at least six months.
Lifefy life insurance reviews and complaints
The Better Business Bureau has given Lifefy an A-plus rating for customer service and satisfaction (BBB). The BBB has yet to receive any complaints from customers. As of October this year, one customer had given the insurance company a flawless rating of 5 stars, but bear in mind that this is based on only one review.
TrustPilot users give Lifefy a 3.7-star rating. It received an A from AM Best. Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI), according to the Better Business Bureau, covers Lifefy’s products with a perfect A+ rating.
Checkout our review of Liberty National Life Insurance Review for another insurance review.