So you’ve moved on from the single life, and you’ve settled down with a partner and kids. Once your family gets bigger, you might begin to consider taking out a life insurance policy and creating a will. That way, if something happens to you, your spouse won’t be left with the financial burden and your children will be cared for.
Fabric by Gerber Life (meetfabric.com) wants to make life insurance and wills easier to understand, simpler to access and more affordable. But is it right for you and your family? Let’s have a detailed look below.
Fabric By Gerber Life Features
Fabric by Gerber Life offers affordable term life insurance and free wills for you and your spouse. The platform also helps organize your family’s financial and legal information in one place, so you and your partner can get on the same page and plan for your family’s long-term well-being.
Fabric by Gerber Life insurance is easy to understand and affordable. Apply from the app or online in three simple steps:
- Answer a few short questions.
- Get your decision.
- Personalize your offer. Tailor your term length or coverage amount.
- Access your policy details 24/7 in the Fabric by Gerber Life app.
Fabric by Gerber Life offers policies issued by Western-Southern Life Assurance Company, a Western & Southern company. Western & Southern is the parent company of Gerber Life Agency.
Fabric by Gerber Life wills are free, and you can easily create one online in just five minutes. The process covers:
- Appointing guardians, beneficiaries and an executor
- Mirroring your will with your spouse
- Establishing your final arrangements
After you complete your will with Fabric by Gerber Life, you need to make it legally binding by printing out the document, having two witnesses sign it and getting it notarized (exact legalization procedures vary by state).
You can update your will at any time as long as you’re a Fabric by Gerber Life member. There is no fee to make changes to your will.
Use the Fabric by Gerber Life app to open a savings account or 529 college savings plan, and synch finances – like savings accounts and 401(k) plans – with your partner.
Fabric by Gerber Life stores your will, life insurance policies and important financial information in one central place. Should something happen to you, your executor can easily access these important documents.
Fabric by Gerber Life Pricing
Fabric by Gerber Life insurance pricing varies, according to how old you are, your health, policy term, and coverage. Compare real quotes below for a 10-year term by coverage amounts to quotes from their competitors. Pricing can vary by state.
|Fabric by Gerber Life||$10.09/mo||$13.26/mo||$16.62/mo||$18.76/mo|
*Competitor 1 is State Farm Life Insurance Company, Competitor 2 is The Prudential Insurance Company of America. Pricing shown here and in the “$1/day” quote is as of 8/4/22 for a 10 year term and based on a 30-year-old, 170 lb, 5’4”, non-smoker female in TX in excellent health. Competitor information is obtained from sources believed to be reliable, but its accuracy or completeness is not guaranteed. This data is for informational purposes and is not intended as a solicitation or recommendation of any insurance product. Premium rates and underwriting classes may vary by company.
As we mentioned before, wills created with Fabric by Gerber Life are 100% free. There’s no trial account, no need to input your credit card information, and no fee to access your legal document. However, once you do complete the online will questionnaire, it directs you through the process of getting a life insurance quote. This is optional.
Fabric by Gerber Life offers a 30-day money back guarantee, and you can cancel at any time. You can try it
Fabric By Gerber Life Limitations
Fabric by Gerber Life has a heavy focus on selling life insurance. Even if you are on the platform to make a will, the company will point you towards getting a life insurance quote in hopes that you will purchase a policy.
Fabric by Gerber Life wills also do not cover every situation. For example, trusts, homeownership, digital assets, pet guardianship and medical/healthcare documents.
Fabric by Gerber Life is an online tool that provides life insurance policies, wills and more. You won’t run into any complicated questions or legal verbiage, and the whole process – either getting a life insurance quote or completing your will – takes only a few minutes. We recommend the service for those with uncomplicated estates. If you’re in a complex situation, you’ll want to look elsewhere.
Gentreo is an online estate planning service that specializes in eldercare. They’re now offering a $10 welcome bonus.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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