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Life Insurance 101

Coronavirus, Life Insurance and You

By Fabric May 19, 2020

Do you really need another company update that begins with, “In these challenging times…”? 

Really, though, all of us at Fabric wanted to let you know what’s going on in light of coronavirus. It’s a priority for us to maintain uninterrupted service for our customers, and your health and safety are our top concern. 

The term life insurance policies sold by Fabric are backed by Vantis Life Insurance Company, which has been keeping its promises for over 75 years, with a record of strong financial performance. Vantis Life is currently rated “A+” (“Superior”) for financial strength by A.M. Best (here's what you should know about life insurance ratings agencies), and it’s wholly owned by Penn Mutual, the second-oldest mutual life insurance company in America. 

That means that Fabric customers have policies backed by life insurers with experience and a track record of protecting what matters most through past recessions, wars and pandemics. 

Along with our insurance partners, we’re regularly monitoring global and local developments as well as guidelines from the Centers for Disease Control and the World Health Organization. One bright side of this crisis is that the businesses making it work are the ones that have digital-first technologies—and digital access is part of Fabric’s DNA. 

If you have any questions or comments for us, please don’t hesitate to reach out to customer support by choosing “Support” from the menu on our website.

To assist you and your family, if you fall behind on paying your policy’s premiums, we’ve temporarily suspended the lapsing, or cancellation, of policies due to non-payment through July 1, 2020. In addition, we are offering a 12-month repayment period to make up any missed premiums. To be eligible for this, you’ll need to submit in writing that you could not make timely premium payments due to financial hardship as a result of the COVID-19 pandemic. This opportunity is available even if we sent you a lapse notification email before March 29, 2020. 

Questions? Check out our FAQ on how we’re handling the COVID-19 crisis or reach out to the licensed insurance agents on our support team.

Fabric exists to help young families master their money. Our articles abide by strict editorial standards.

Fabric Insurance Agency, LLC offers a mobile experience for people on the go who want an easy and fast way to purchase life insurance.


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Accidental Death Insurance policies (Form VL-ADH1 with state variations where applicable) and Term Life Insurance policies (Form ICC16-VLT, ICC19-VLT2, and CMP 0501 with state variations where applicable) are issued by Vantis Life Insurance Company (Vantis Life), Windsor, CT (all states except NY), and by The Penn Insurance and Annuity Company of New York (NY only). Coverage may not be available in all states. Issuance of coverage for Term Life Insurance 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.

All sample pricing is based on a 25-year old F in Excellent health for the coverage amount shown. All samples are for a 10-year term policy, unless otherwise stated. Term Life Insurance policies (Form ICC16-VLT, ICC19-VLT2, and CMP 0501 with state variations where applicable) are issued by Vantis Life Insurance Company (Vantis Life), Windsor, CT. Coverage may not be available in all states. Issuance of coverage for Term Life Insurance 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.

Fabric Insurance Agency, LLC (FIA) is an insurance agency licensed to sell life and accident insurance products. FIA will receive compensation from Vantis Life for such sales. The NAIC Company Code for Vantis Life is 68632. See the Terms of Use for additional information regarding FIA.

A.M. Best uses letter grades ranging from A++, the highest, to F, companies in liquidation. Vantis Life’s A+ (Superior) rating, which was reaffirmed in April 2020, ranks the second highest out of 16 rankings. An insurer’s financial strength rating represents an opinion by the issuing agency regarding the ability of an insurance company to meet its financial obligations to its policyholders and contract holders and not a statement of fact or recommendation to purchase, sell or hold any security, policy or contract. These ratings do not imply approval of our products and do not reflect any indication of their performance. For more information about a particular rating or rating agency, please visit the website of the relevant agency.

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