Have you ever felt like you’re overpaying for life insurance? Or maybe you’ve put off getting coverage because traditional policies seem too expensive and complicated? I recently discovered Everyday Life Insurance, a digital-first company that’s changing how life insurance works with their innovative “Predictive Protection” approach. After diving deep into their offerings, I’m ready to share my unfiltered thoughts on whether this newcomer (founded in 2018) delivers on its promises of affordable, adaptable coverage.
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Key Takeaways
- Find a plan for as low as $4.00 per month with customized coverage that automatically adjusts over time
- Application can be completed entirely online with approval possible in under 15 minutes
- Policies underwritten by established partners Legal & General (A+ rated) and Fidelity Life (A- rated)
- Coverage limits range from $100,000 to $5 million with term lengths of 10, 15, 20, or 30 years
- Unique “Predictive Protection” technology can save customers up to 50% over the life of their policy
What is Everyday Life Insurance?
Everyday Life Insurance is an insurtech company that’s reimagining how life insurance works. Founded in 2018 and based in Boston, the company offers technology-driven term life insurance plans that automatically adjust over time to match your changing coverage needs.
Unlike traditional insurers that sell static policies with fixed coverage amounts for the entire term, Everyday Life’s policies are designed to provide the right amount of protection at each stage of your life. This approach means you’re never overpaying for coverage you don’t need.
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How Everyday Life’s “Predictive Protection” Works
The core innovation behind Everyday Life is their Predictive Protection technology. Here’s how it works in practice:
Traditional life insurance typically sells you a fixed amount of coverage for your entire term—say $500,000 for 30 years. But the reality is that most people’s insurance needs decrease over time as they pay down mortgages, build savings, and have fewer dependents relying on their income.
Everyday Life analyzes your specific situation and creates a customized plan that automatically steps down your coverage (and your premiums) at predetermined intervals. For example, you might start with $500,000 in coverage, but after your kids finish college in 15 years, your coverage might adjust down to $300,000, with a corresponding decrease in your monthly premium.
According to Everyday Life, this approach saves the typical customer about 50% over the life of their policy compared to traditional flat coverage options. That’s serious money back in your pocket.
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Everyday Life Insurance Features
After exploring Everyday Life’s offerings, here are the standout features that caught my attention:
1. Fully Online Application Process
The entire application process can be completed online in three simple steps:
- Fill out a questionnaire about your family, dependents, salary, and basic information (takes less than 2 minutes)
- Review suggested plans customized to your profile
- Choose and adjust your plan, then complete the application with one of their underwriting partners
Most applicants receive an approval response in less than 15 minutes, and in most cases, no medical exam is required. This streamlined process is a welcome change from the paperwork-heavy, weeks-long process typical of traditional insurers.
2. Flexible Coverage Options
Everyday Life offers term life insurance with:
- Coverage amounts from $100,000 to $5 million
- Term lengths of 10, 15, 20, or 30 years
- Age eligibility from 18 to 70 years old
This flexibility means you can find a policy that fits your specific needs and budget, whether you’re looking for basic coverage or more substantial protection.
3. Competitive Pricing
Find a plan for as low as $4.00 per month, with average premiums around $15 monthly. The exact rate depends on your age, health, coverage amount, and term length, but their customized approach often results in lower overall costs compared to traditional policies.
I ran some sample quotes and found their initial rates to be competitive with other online insurers. For example, a 30-year-old male in excellent health seeking $500,000 of coverage for 20 years received a quote of $35.24 per month—comparable to other leading online insurers.
4. Backed by Established Insurers
While Everyday Life is a relatively new company, they partner with well-established insurance carriers to underwrite their policies:
- Legal & General: A 184-year-old company with an A+ A.M. Best rating
- Fidelity Life: A 125-year-old insurer with an A- A.M Best rating
This partnership structure gives you the innovation of a tech-forward company with the financial stability of established insurers.
5. Renewable and Convertible Policies
Everyday Life’s policies are renewable, meaning you can extend coverage beyond the initial term if needed. They’re also convertible to permanent insurance, providing flexibility if your insurance needs change significantly over time.
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The Application Experience: How It Works
Curious about how the process actually feels? I walked through Everyday Life’s application to see for myself, and I was genuinely impressed with the simplicity.
The questionnaire asks basic information without requiring personal details upfront. You’ll share information about your family structure, income, and general health, and within minutes, you’ll see customized policy recommendations.
What I particularly appreciated was the transparency—as you adjust coverage amounts or term lengths, you can see the monthly premium change in real-time. This makes it easy to find the sweet spot between adequate coverage and affordable premiums.
If you decide to move forward, you’ll complete the application with one of their underwriting partners. The entire process is designed to take less than 15 minutes if no additional information is needed.
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How Everyday Life Compares to Competitors
When comparing Everyday Life to other online life insurance options, several differences stand out:
Everyday Life vs. Fabric: Both offer quick online applications and competitive rates, but Everyday Life’s automatically adjusting coverage is unique. In my sample quotes, Fabric’s rates were slightly lower ($28.07 vs. $35.24 for the same profile), but Everyday Life’s long-term savings through decreasing coverage could outweigh the initial difference.
Everyday Life vs. Haven Life: Haven Life offers a similar digital experience but with fixed coverage amounts. Their premium range for my sample profile was $20.19 to $40.16, potentially lower than Everyday Life’s initial rate, but again without the long-term savings of adjusting coverage.
Everyday Life vs. Traditional Insurers: The most dramatic difference is in the application process and flexibility. Traditional insurers typically require medical exams, lengthy paperwork, and weeks of waiting, while Everyday Life offers a streamlined, often same-day approval process.
My Take: Is Everyday Life Insurance Worth It?
After thoroughly researching Everyday Life Insurance, I believe they offer a genuinely innovative approach that makes sense for many people. The concept of paying only for the coverage you need at each life stage is logical and can lead to significant savings over time.
The digital-first approach makes getting coverage remarkably simple, especially compared to the traditional insurance buying experience. Being able to complete the entire process online in minutes rather than weeks is a major advantage for busy people.
That said, Everyday Life is still a relatively young company, having been founded in 2018. While they’re backed by established insurers with strong financial ratings, some consumers might prefer working with more established brands directly. However, since Everyday Life partners with Legal & General and Fidelity Life for underwriting, financial strength shouldn’t be a major concern.
The real question is whether their “Predictive Protection” technology will deliver the promised savings over time. The concept is sound—most people’s insurance needs do decrease as they age—but only time will tell how well the execution works in practice.
Who Should Consider Everyday Life Insurance?
Based on my research, Everyday Life Insurance is particularly well-suited for:
- Tech-savvy consumers who prefer handling financial matters online
- Budget-conscious shoppers looking to maximize coverage while minimizing costs
- Young families whose insurance needs will change significantly over time
- Homeowners with decreasing mortgage balances
- People who value simplicity and want to avoid medical exams and paperwork
It might be less ideal for:
- Those who prefer face-to-face interactions with insurance agents
- People with complex estate planning needs who might benefit from more personalized advice
- Individuals seeking permanent life insurance with cash value components (though Everyday Life’s policies are convertible)
The Bottom Line: Smart Coverage That Grows With You
Everyday Life Insurance offers a refreshing approach to life insurance with its technology-driven, adaptable policies. The ability to find a plan for as low as $4.00 per month makes coverage accessible to almost everyone, while their Predictive Protection technology ensures you’re never paying for more insurance than you need.
The fully online application process, quick approval times, and no-medical-exam option for many applicants make getting covered remarkably simple. And while the company itself is relatively new, their partnership with established insurers provides peace of mind regarding financial stability.
If you’re in the market for term life insurance and appreciate innovation that can save you money, Everyday Life is definitely worth considering. Their approach addresses many of the pain points in traditional life insurance, potentially saving you thousands over the life of your policy while still providing the protection your loved ones need.
Have you tried Everyday Life or other online insurance providers? I’d love to hear about your experience in the comments below!
READ MORE: SEE THE BEST LIFE INSURANCE COMPANIES HERE AND HOW TO CHOOSE THE RIGHT COVERAGE AMOUNT HERE.
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