- Coverage ranging from $100,000 to $5 million
- Flexible terms, including 10, 15, 20, 25, and 30 years
- Automated underwriting: most policies issued in minutes
- Easy-to-use digital experience, including online application and mobile policy access
- Free wills
- Accelerated death benefit included
Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partners’ links. This content is created independently from TIME’s editorial staff. Learn more about it.
Updated February 6, 2024
It’s not a pleasant thing to think about, but it’s a question everyone must ask: How would your family get by financially if you were to pass away suddenly? For millions of Americans, the answer is life insurance.
If you’re in the market for coverage and are interested in buying a policy online rather than through an agent, you might want to consider Fabric by Gerber Life. Let’s look at what this company offers.
Fabric by Gerber Life Insurance
Fabric by Gerber Life Insurance
Policy types
Term
Coverage max
$5 million
Available terms
10, 15, 20, 25, and 30 years
Pros & cons
Pros:
Cons:
- Cannot add spouse to policy
- $100,000 coverage minimum may be more than some people need
- Online only, which may not work for those who prefer to work with a local agent
- Does not offer whole life
TIME’s Take
Fabric by Gerber Life is all about simplicity, from its single-option term life insurance product to its digital-first customer experience. The company could be a great choice if you’re a new parent looking for a fast and easy way to provide financial security for your family. But if you prefer to work with an agent or have more complex insurance needs, you may want to look elsewhere for coverage.
Who is Fabric by Gerber Life best suited for?
Fabric by Gerber Life positions itself as a life-insurance and financial-planning provider for young parents facing the challenges of adjusting to parenthood, including the need for life insurance, a will, and other financial-planning instruments.
As the company’s founders explain on the Fabric website: “We started Fabric to help you begin. To tackle your parental must-do list—the things you know you should be doing but haven’t yet. They may feel intimidating, so you put them off. But it doesn’t have to be that way.”
Fabric Life Insurance: overview
Fabric by Gerber Life offers term life insurance with coverage of up to $5 million and terms of 10 to 30 years. The company does not offer whole life. True to its mission of providing financial-planning tools to young families, Fabric by Gerber Life also offers an online will-making tool, an UGMA (Uniform Gift to Minors Act) account, and links to partner providers of 529 savings plans.
The Fabric by Gerber Life customer experience is almost completely digital. You apply online at the company's website rather than purchasing a policy through an agent. Fabric issues most policies within minutes. Qualifying applicants can be issued a policy without a medical exam. You can then access your policy, will, or UGMA investment plans from the Fabric website or mobile app.
The company also offers Fabric Vault, a tool that helps you and your spouse keep track of multiple financial accounts, including checking, savings, mortgage, 401(k), IRA, and credit cards.
Customer support is available via a live chat feature on the Fabric website.
About Fabric
Fabric by Gerber Life was established in 2015 as Fabric Technologies, with a mission to provide insurance and other financial products to young families. The company was acquired in 2022 by Western and Southern Financial Group, a well-established life insurance company founded in 1888 and based in Cincinnati, Ohio. Western and Southern had already acquired Gerber Life in 2018.
Today, Fabric by Gerber Life retains its focus on young families. Its affiliation with Western and Southern Life means Fabric policies are backed by a company with an A+ (Superior) rating by AM Best. That means you can be confident in Fabric’s financial stability and ability to pay claims.
Policy details
Fabric keeps it simple: It offers one option for term life insurance with coverage amounts ranging from $100,000 to $5 million. Terms are offered in five-year increments, including 10, 15, 20, 25, and 30 years, giving you flexibility in how you structure your policy.
A Fabric policy also includes, at no additional cost, an accelerated death benefit for terminal illness. This means that if you become terminally ill, you may be able to access a portion of the death benefit while you’re alive. Fabric currently offers no other riders.
The company notes that most applications are underwritten and approved in less than 10 minutes and are issued without a medical exam. In general, Fabric may ask you to undergo an exam if it determines it needs more thorough information based on your responses to the online application, particularly regarding your health history, financial information, and lifestyle. If a health exam is needed, it would be at no cost to the applicant and entails a trained professional working around their schedule to meet them conveniently at home or work. Customers who are asked to take a medical exam can review the progress of their application online.
Fabric offers a 30-day money-back guarantee and the ability to cancel coverage anytime. As is typical with term life insurance, the premium does not change over the life of the policy.
A Fabric policy only covers one person. So, if your spouse wants to be covered, they’ll need to create their own Fabric account and purchase a separate policy. Note that there are some pros and cons to buying separate policies versus buying a single, joint policy that covers both you and your spouse. These include cost — a joint policy typically costs less overall than two separate policies. So if you want to cover both you and your spouse, consider checking with multiple companies to fully understand your options.
Offering just one type of life insurance policy simplifies things, but may not appeal to people with more complex needs. It’s worth noting, however, that Fabric’s sister company, Gerber Life, offers options for both term and whole life, a children’s life insurance plan, and a guaranteed life insurance plan for seniors with a $5,000 coverage minimum. So, additional options are only a few clicks away.
Pros and cons
Before signing up with Fabric by Gerber Life, it’s important to understand the company’s pros and cons.
Pros:
- Coverage ranging from $100,000 to $5 million
- Flexible terms, including 10, 15, 20, 25, and 30 years
- Automated underwriting: most policies issued in minutes
- Easy-to-use digital experience, including online application and mobile policy access Free wills
- Accelerated death benefit included
- Free wills
- UGMA investment-account product that parents can open for a child
Cons:
- Cannot add spouse to policy
- $100,000 coverage minimum may be more than some people need
- Online only, which may not work for those who prefer to work with a local agent
- Does not offer whole life
Costs
According to a recent study by Insure.com, the monthly costs of a Fabric 20-year term life policy are as shown below.
25 years-old
| Smoker? | Gender | $500,000 coverage | $1 million coverage |
|---|---|---|---|
No | Male | $23 | $39 |
No | Female | $19 | $32 |
Yes | Male | $97 | $187 |
Yes | Female | $70 | $133 |
35 years-old
| Smoker? | Gender | $500,000 coverage | $1 million coverage |
|---|---|---|---|
No | Male | $24 | $41 |
No | Female | $21 | $35 |
Yes | Male | $129 | $251 |
Yes | Female | $105 | $203 |
45 years-old
| Smoker? | Gender | $500,000 coverage | $1 million coverage |
|---|---|---|---|
No | Male | $71 | $126 |
No | Female | $57 | $97 |
Yes | Male | $407 | $782 |
Yes | Female | $312 | $605 |
No-medical exam policies have a reputation for costing more than policies requiring an exam. However, the Fabric rates shown here seem to buck that trend. According to a recent study by Insure.com, the average cost of a 20-year term life policy for a 35-year-old male non-smoker is $43 per month. Remember that these are average rates, and your rate may vary based on several factors. Consider shopping around to be sure you get the best combination of coverage and price.
How does Fabric compare?
Overall, Fabric compares favorably to brands such as Haven Life and Ethos Life. Here’s how they stack up.
| Fabric by Gerber Life | Ladder | Ethos | |
|---|---|---|---|
Policy types | Term | Term | Term, Whole |
Coverage min | $100,000 | $100,000 | $20,000 |
Coverage max | $5 million | $83 million | $2 million |
A.M. Best | A+(1) | A+/A/A-(2) | A(3) |
Trustpilot | 4.8 stars | 4.8 stars | 4.7 stars |
Other features | Free wills, links to 529 plans and UGMA product; Fully digital experience; Automated underwriting; Accelerated death benefit included. | “Laddering” lets policyholders adjust coverage up or down as needs change. | Apply online; Customer service is available by toll-free phone; 30-day “free look”. |
(1) Rating for underwriting company, Western and Southern Life
(2) Rating for underwriting companies: A+ for Amica, Allianz Life Insurance Company of New York; A for Fidelity Security; A- for S.USA Life
(3) Rating for underwriting company, Legal and General America
Policy types
Fabric offers term life coverage, similar to the other companies in our review. It does not, however, offer a permanent life policy, such as whole life.
Coverage levels
Fabric's coverage minimum is higher than the competitors in this review, which might make it a less appealing choice for those with limited coverage needs. However, it also has a higher coverage maximum.
Financial strength
Fabric’s underwriting company, Western and Southern Life, has an A+ rating from AM Best. This is Best’s second-highest rating. Other companies in this review have an A++ and an A rating, which indicate the companies’ relative financial strength and ability to pay claims.
Additional features
Fabric by Gerber Life compares well when it comes to additional features. The company’s digital experience is second to none. Accelerated death benefits come with all policies at no additional cost. And Fabric offers free wills, easy access to 529 educational savings plans, and other financial planning tools—including a new Uniform Gifts to Minors Act (UGMA) investment-account management product that parents can use for a child. This UGMA product can be used for a child’s expenses and provide tax advantages. This suite of financial offerings seems to be unmatched by its competitors.
Methodology
We accessed policy and company information at the Fabric by Gerber Life website, and competitor information from their respective sites. Pricing information is from a recent review of Fabric at Insure.com. Financial-strength rating information is from AM Best, a trusted source for information about the insurance industry. We also gathered consumer feedback from Trustpilot. Its star ratings are based on a scale of 0 to 5.
Bottom line
If you’re a new parent, you likely have a lot on your plate. So, it can be easy to neglect important steps you need to take for financial planning. Fabric by Gerber Life aims to help you take at least some of those steps.
The company’s digital-first approach means you can get a life insurance policy on your own time, usually within minutes and without a medical exam. The company offers additional tools that help ensure your new family’s financial security is squared away—even if the rest of your life seems a bit chaotic.
Just keep in mind that Fabric Life Insurance may not be for everyone. Those needing whole life insurance, or who prefer to work with an agent, may want to look elsewhere for coverage.
Fabric by Gerber Life Insurance
Fabric by Gerber Life Insurance
Policy types
Term
Coverage max
$5 million
Available terms
10, 15, 20, 25, and 30 years
Frequently asked questions (FAQs)
Does Fabric offer whole life insurance?
Fabric offers term life coverage but not whole life insurance. However, you can purchase whole life through Fabric’s sister company, Gerber Life.
What is the #1 life insurance company?
Northwestern Mutual Life is the largest life insurance company in the US, according to the National Association of Insurance Commissioners. However, State Farm ranked at the top of the 2023 J.D. Power Individual Life Insurance Study.
RELATED: Best Life Insurance Companies
The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.