Life Insurance

Lifefy Life Insurance Review

By Peter Mondrose Peter Mondrose is the Head of Insurance Content at Bankovia. He received his degree in Economics in 1998 and a second degree in Journalism in 2004 from the University of Chicago. Most recently he served as Head of Content at QuoteYeti.com, and editor at BusinessPundit.com 3 minute read

As is the case with other insurers, Lifefy Life Insurance offers the best rates to nonsmokers who do not indulge in high-risk employment or hobbies such as skydiving or who do not have a major medical condition such as diabetes. Depending on your responses to the health questionnaire, which will be delivered to you via email, you may be eligible for guaranteed-issue life insurance rather than term life insurance.

How to get a quote from Lifefy life insurance?

Lifefy Life Insurance Review - Lifefy Life Insurance Logo

Applicants must be US citizens aged 18 to 60, or 55 if they are current smokers. To apply, a web-based application form must be completed. Allow yourself ten minutes to do this activity to be on the safe side.

  1. Please visit the Lifefy website for further information. To begin, navigate to the site and click on the Get Started link in the upper right-hand corner.
  2. To determine your location, enter your ZIP code below. Please click the “Next” button to continue.
  3. Determine if you are a US citizen or a lawful permanent resident. Simply press the Next key on your computer’s keyboard to proceed.
  4. Kindly notify us if you currently own a life insurance policy with another firm or organization or are considering obtaining one.
  5. With your spouse, discuss your interests, health, and any recent or ongoing therapy. If you do not accurately answer any of the questionnaire’s questions, the application for guaranteed-issue insurance may be forwarded to you.
  6. It is vital to keep track of any tobacco or nicotine intake over the preceding two years.
  7. Kindly complete the following form with your current height and weight.
    Complete all required sections with your first and last names, birth date, and job title (if applicable).
  8. Your final prices will be determined at this time, and you will have the ability to adjust the amount of coverage if necessary. If you are satisfied with the cost, you may submit your application and payment using the secure site of Authorize.net. Then, using Docusign, you may sign your contract electronically.
  9. The insurance company should begin providing coverage as soon as practically reasonable after receiving your permission. Following that, you may choose to pay your insurance premiums monthly or annually.

What types of life insurance coverage does Lifefy offer?

SBL Insurance Company (SBLI) offers two distinct types of life insurance policies:

  • Term life insurance. This term life insurance policy has a face value of $50,000 to $350,000 and sets premiums. However, you may be required to pay an activation fee in order for the free death benefit rider to take effect.
  • Life insurance with a guaranteed issue. For example, Lifefy insurance, unlike other guaranteed-issue policies, has a ten-year term and includes an accidental death benefit rider. 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?

Utilize the following add-ons to fortify your defenses:

  • Riders who are compensated more swiftly in the event of death. If you are diagnosed with a terminal illness, term life insurance riders such as this one allow you to collect half of your policy’s death benefit.
  • Rider providing a death benefit in the case of an accident. You will be eligible for the benefit if you die within 180 days of the accident that resulted in the death benefit.
  • Rider for premium waiver. Lifefy will waive your insurance premiums for a minimum of six months if you become fully handicapped.

Lifefy life insurance reviews and complaints

Lifefy has an A-plus rating from the Better Business Bureau for customer service and satisfaction (BBB). The BBB has not yet received any customer complaints. Even if a single consumer gave the insurance firm a perfect 5-star rating in October, it’s critical to remember that this is based on a single review.

Lifefy has a 3.7-star rating on TrustPilot. It received an A rating from Am Best.
SBLI, which has an A+ rating with the Better Business Bureau (BBB), insures Lifefy’s products, which are featured on the website.

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