In partnership with Fabric.
For a few years now, my husband and I have been enjoying the DINK (dual-income, no kids) life. Our run as DINKs has been full of fun travels, spontaneous weekend getaways, and boujee dinners downtown – but alas, it’s coming to an end. We’re so excited to be welcoming a baby via adoption sometime in the near future! With a baby on the way, we’ve been thinking about how to ensure our child has the best life possible, even if something should happen to us. Life insurance and will-planning were totally overwhelming to navigate as a parent-to-be – that is, until I found Fabric by Gerber Life.
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Life Insurance 101
Fabric gives parents term life insurance in an affordable and modern way – in as short as 10 minutes. Not only do they provide easy-to-understand life insurance, Fabric strives to be your one-stop-shop for your family’s financial future with tools like online wills, access to college savings funds, and more. The policies are actually issued by Western-Southern Life Assurance Company, which dates all the way back to 1888. For me, this was a clear indicator that Fabric won’t be here today and gone tomorrow.
I struggled to understand how life insurance worked at first, so if that’s you, let me help you out. Life insurance is a contract between you and an insurance company. You pay monthly into the fund (called a “premium”) and if you die, the company pays the person of your choosing.
Term life insurance is a type of life insurance where the person you pick (likely your kiddos or a guardian) will get a death benefit if you die during a pre-specified time, called the “term.” Unlike whole life insurance, if you don’t die, there is zero cash value, which often means lower premiums. TL;DR – if you pass away while paying life insurance during the “term,” your kids are protected with a sum of money.
The 10 Minute Test
Parents are busy people (like, the busiest people) and Fabric understands that. Having gotten other types of insurance in the past, I couldn’t believe coverage could be as quick as 10 minutes. It has never been easy in any form of the word for me! So naturally, I decided to put that to the test. I started by taking a 60-second quiz to see if life insurance was right for me. I found the questions to be easy to navigate, and perhaps more importantly, simple to understand. Some of the 6 questions I answered included “Do you have a spouse or partner?” and “Do you have a mortgage?”. Once I answered the questions, they automatically recommended services just for me. I was recommended for life insurance because I (will) have a family, have stuff, and currently have a mortgage.
I was then prompted to take an honesty pledge, saying that I’d truthfully answer the questions following and that I do in fact live where I said I live. It asks for your social security number, address, and drivers license, as it uses “bank-level security” to verify your identity.
Designed With You In Mind
I did giggle a little when it asked if in the past year or next two years I planned on engaging in some extreme activities such as hang gliding, rodeo, and cave diving. I’m an adventurous person, but I'm not that adventurous! It then proceeds to ask some health related questions that are pretty high-level, as well as a few about your parents’ health. I finished the questions in about 9 minutes (true to their word, I’m impressed).
I was immediately approved and provided a cost per month after submitting my application. I was able to play with the term length and coverage amount, too, which was nice to see. Getting immediately approved was really nice, as I had taken a complete health test for life insurance before that was a bit of a PITA. Not everyone will be approved right away, but you may be able to skip the health exam, which is a huge plus for busy people like me.
Beyond life insurance, they offer an app, Fabric Vault, that helps you manage a multitude of financial “fun.” From writing an online will to accessing a college savings account, this app has several offers for your family financial planning needs. It also can help you easily share policy details with important folks (e.g. guardians if you pass away) and support you getting some rainy day savings together. It’s the real deal.
Focusing On The Future
As a parent-to-be, I have enough to think about. I can only imagine the lives of parents (especially of multiples!). So much of being a parent, and really, adulting in general, just plain old sucks and is so hard to prioritize with the rigors of day-to-day life. Fabric by Gerber Life takes just one thing off of your plate. You can trust them with your family’s financial future – and your family is so worth it.
5 More Reasons to Fall in Love with Fabric:
- Fabric offers a 30-day money-back guarantee. Plus, you can cancel at any time!
- Don’t (just) take it from us. With over 1,900+ reviews on Trustpilot, parents are giving Fabric 4.8/5 stars.
- Should you pass away, your beneficiary will likely receive the death benefit right away, so your family is protected the moment you’re not able to be right there with them.
- You are in charge of your policy. Choose from policies from $100,000 to $5,000,000 ($1.5M is max for automatic approval) and terms between 10-30 years.
- Fabric was created by parents, for parents, meaning the creators really understand our needs as parents (and parents-to-be!).
Term Life Insurance Policy Series ICC22 2205-4004 WSA (and state variations where applicable) issued by Western-Southern Life Assurance Company, Cincinnati, OH which operates in DC and all states except NY, and distributed by Gerber Life Agency, LLC using Fabric Technologies. Gerber Life Agency, LLC is an affiliate of Gerber Life Insurance Company (est. 1967). All are members of Western & Southern Financial Group (Western & Southern). Issuance of coverage for Term Life Insurance is subject to underwriting review and approval. Please see a copy of the policy for the full terms, conditions and exclusions. Product provisions, availability, definitions and benefits may vary by state. Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by, the issuing company. Guarantees are based on the claims-paying ability of the issuer. Products are backed by the full financial strength of the issuing company.