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Fabric Life Insurance Review: The Digital Age of Life Insurance

Fabric Life Insurance

Written By Doug Mitchell

  • Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.
  • Fact Checked by

Holly Mitchell  &

  • Holly Mitchell

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

  • Rob Pinner

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

  • Louis G. LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.
  • Updated on November 29, 2023
Table of Contents

Fabric Life Insurance is a relatively new entrant to the market. Fabric Life Insurance was founded in 2015 by Adam Erlebacher and Steven Surgnier. Adam took on the role of CEO, and Steven served as CTO. Together, they established Fabric to modernize the life insurance industry, focusing on making life insurance more accessible and user-friendly for young families. Their approach combined technology and innovation to simplify buying life insurance and managing financial health, a significant shift from the traditional methods prevalent in the industry. Their background and expertise in technology and finance played a crucial role in shaping Fabric’s digital-first strategy and customer-centric services.

With a simple application process, waiver of medical exams in some cases, and almost instantaneous cover, Fabric Life Insurance is suited for busy parents.

About Fabric Life Insurance

It’s a little confusing, but here goes. Fabric Life falls under the umbrella of Vantis Life, a company rated A by A.M. Best.  Fabric is now Fabric by Gerber Life.  That seems to be even more confusing.   Vantis Life is a subsidiary of Penn Mutual, one of the strongest life insurance companies in America today.

Penn Mutual receives top ratings from all the rating agencies. Vantis Life also has an A+ rating from the Better Business Bureau.

Fabric Life shines in the customer service arena. Trustpilot gives it a 4.8 rating, with 97% of consumers scoring the company a 4 or 5.

Fabric product offerings

As far as we can tell, Fabric offers the following products to consumers:

  • Term Life Insurance
  • UGMA for your kids
  • Wills

Fabric Term Life Insurance

Term life insurance is Fabric’s primary product, designed to offer straightforward, temporary coverage.

  • Coverage Duration: Policies typically range from 10 to 30 years, providing flexibility to choose a term that aligns with the policyholder’s needs, such as covering the years until retirement or children’s college education.
  • Coverage Amount: Fabric allows customers to choose from a wide range of coverage amounts, from $100,000 to $5,000,000.
  • Eligibility and Underwriting: Applicants usually undergo a simple and fast underwriting process. In some cases, especially for higher coverage amounts or certain health conditions, a medical exam may be required.
  • Premiums: Premiums are level, meaning they remain the same throughout the policy term. The rate is determined based on the policyholder’s age, health, lifestyle, coverage amount, and term chosen.

Fabric Life Insurance Eligibility and Application Process

You must be aged 18 to 60 to apply for a policy.

The application process is simple, and you may complete it through the mobile app or the Fabric Life Insurance website.

The advantage of using the app is that it allows you to:

  • Draw up your will
  • Sync your finances, including your 401(K) and savings accounts, with your partner.
  • Open a college savings plan or standard savings account

Fabric Life Insurance Pros and Cons

Pros

  • Simple application
  • Approval takes minutes rather than weeks
  • On payout, the company matches 1% of the death benefit and donates it to charity.
  • A medical exam isn’t always required
  • The company provides free wills and other financial tools for families

Cons

  • No whole life coverage
  • Not available nationwide
  • Not ideal for older parents

Fabric Life Insurance Bottom Line

Fabric Life Insurance’s offerings emphasize simplicity, affordability, and the digital experience. Their term life insurance is versatile and can be customized to suit various needs. Their UGMA can be set up and used for college or anything that benefits your kids.  Lastly, Fabric does offer 100% free digital wills that allow you to control where your assets go when you die. With online will creation and financial tools, Fabric positions itself as not just an insurance provider but as a partner in financial planning for modern families.

Is Fabric Life Overrated?

Although we see all of the items that Fabric offers as essential in young and growing families, we don’t see where you are better off by using them.  Financial planning for your family can be complex.  We suggest you talk with a financial advisor for personalized advice.  You can start by using our instant life insurance calculator on this page.

Doug Mitchell, CLU

Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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