For a long time, my partner and I talked about writing a list of our financial accounts in case something happened to either of us. That way, we would have an easy list of where to find all our assets, especially during a stressful time.
We have two little kids, so having access to that information would be critical in an emergency. But a paper list would quickly get out of date or lost, and my dresser drawer isn’t all that secure. I wanted to help solve this problem for my family, and as we’ve dug into other parents’ experiences we’ve found that there are millions of other families who share this problem, too.
That’s why I’m proud to announce that today Fabric is launching a revolutionary and free new financial security product for couples and parents called Fabric Vault.
screen shot - Fabric Vault - starting page
Fabric Vault gives you and your spouse a quick and secure way to let each other know what checking, savings, investment, 401(k), life insurance and credit card accounts you have—in case the unexpected happens.
It is designed to help you and your partner organize important financial information and give you simple steps to help protect your family’s financial future. We have been using it here at Fabric, and we’re excited to share it with you, too!
Until now, the right tools haven’t existed for couples to take control of their finances. Over 4 in 10 couples would struggle to locate financial information and accounts (like bank accounts or 401(k)s), according to a recent Fabric study conducted by YouGov among couples aged 30-50 with kids under 18.
screen shot - Fabric Vault - link accounts
Fabric Vault is easy to set up, and uses 256-bit encryption to secure your data during transmission and storage.
Fabric Vault offers a simple way for you and your partner to get organized, and a clear path to helping protect your family's financial future.
You have total control over what you share. And your Fabric Will and Fabric life insurance policies will connect automatically to your Fabric Vault, making it easy to share important information with the people who need to know.
screen shot - Fabric Vault - share your Vault
When you start a family, everything changes. That’s why we’ve built a suite of powerful tools and products to help new parents get organized and secure their family’s financial future.
In addition to Fabric Vault, we offer Fabric Wills, a free way to create a last will and testament, which has been used by tens of thousands of families. We also offer a simple and affordable term life insurance policy that you can get in minutes, and an accidental death policy that you can purchase in about two minutes.
Fabric’s policies are issued by Vantis Life, a life insurance company founded in 1942 that is rated “A” for financial strength and claims-paying ability by A.M. Best.
Ready to get started? Try Fabric Vault now.
Fabric worked with YouGov Plc to conduct a survey using an online interview administered to members of the YouGov Plc panel of 1.2 million individuals who have agreed to take part in surveys. Emails were sent to panelists selected at random from the base sample. The email invited them to take part in a survey and provided a generic survey link.
Once a panel member clicked on the link, they were sent to a survey that they are most required for, according to the sample definition and quotas. (The sample definition could be "US adult population" or a subset such as "US adult females"). Invitations to surveys don’t expire and respondents can be sent to any available survey.
The responding sample is weighted to the profile of the sample definition to provide a representative reporting sample. The profile is normally derived from census data or, if not available from the census, from industry-accepted data.
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Fabric Instant is an Accidental Death Insurance Policy (Form VL-ADH1 with state variations where applicable) and Fabric Premium is a Term Life Insurance Policy (Form ICC16-VLT and CMP 0501 with state variations where applicable). Policies are issued by Vantis Life Insurance Company. (Vantis Life), Windsor, CT (all states except NY), and by Vantis Life Insurance Company of New York, Brewster, NY (NY only). Coverage may not be available in all states. Issuance of coverage for Fabric Premium is subject to underwriting review and approval. Please see a copy of the policy for the full terms, conditions and exclusions. Policy obligations are the sole responsibility of Vantis Life.
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