If you have someone who depends on you financially, you own a business, have debts, or want to leave something behind for friends and family, you can benefit from life insurance. For more information, see our blog post, “Do You Need Life Insurance & Is It Worth It?”.

A common objection to term life insurance is its limited duration. However, the affordability of term life insurance makes it a valuable choice. According to Investopedia, whole life insurance policies “cost on average 5-15 times more than term coverage with the same death benefit.” Term life insurance is often the most affordable option to help families financially protect their loved ones during important stages of life. For more information, see our blog post, "Term vs. Whole Life Insurance: What’s the Difference?".

“Term length” refers to the time period the coverage is active. We offer a variety of term lengths such as 10, 15, 20, 25, or 30 years.

“Coverage” refers to the amount of money that will be paid out to your beneficiary as a lump sum. This is also referred to as the “death benefit”.

For example, if you were to purchase a 20-year term policy with $500k in coverage, you'd be covered for that 20-year span and if you were to pass away, your loved ones would receive a lump sum payment of $500k.

Policies are issued by Western-Souther Life Assurance Company and distributed by Gerber Life Agency, LLC using Fabric Technologies. Gerber Life Agency, LLC is an affiliate of Gerber Life Insurance. All are members of Western & Southern Financial Group (with a heritage dating back to 1888), rated "A+" ("Superior") for financial strength by A.M. Best.

While there’s not an easy one-size fits all answer, there are several options to help you figure out how much coverage you may need. NerdWallet outlines several methods, with one of the simplest being to multiply your income by 10x and add $100,000 per child for college expenses.

If you’re looking for more detailed ways to calculate your coverage needs, use our guide, “How much life insurance do I need?” to find out more.

Term life insurance provides coverage for all health-related and natural deaths. It also provides coverage in the event of death due to an accident, such as a car accident or drowning.

The only exclusion to the policy offered by Fabric by Gerber Life is death due to suicide within the first two years of coverage.

During the first two years of your life insurance policy, the insurer can review your application for intentional misrepresentations. This is called the “contestability period.” If found, it may delay the payout process or result in claim denial. Fabric will assist beneficiaries with claims during this period. After two years, the policy becomes "incontestable" and cannot be voided due to misrepresentation.

Term life insurance covers both accidental death and death caused by illness. The pricing of term life insurance is determined by factors such as health, family history, and lifestyle. The underwriting process evaluates this information to determine a rate class, which, along with age, coverage amount, and term length, determines the pricing. Once approved, you have the flexibility to adjust the term length and coverage amount to align with your monthly budget before purchasing.

With a policy from Fabric by Gerber Life, your pricing is guaranteed to stay the same during the term, even if your health or life changes. We offer a variety of term lengths such as 10, 15, 20, 25, or 30 years.

After the term ends, you have the option to continue the coverage, with pricing increasing annually, up to a maximum of age 85. You would be notified of the end of the term approaching and any pricing changes. You can also choose to discontinue the coverage at any point.

Pricing to continue the coverage after the term will be outlined in your policy document.

We offer monthly payments via linked debit or credit card, or Apple Pay or Google Pay.

Your monthly payment is called a premium. When your payments are up to date, your policy is considered “in force,” or active. Your card will be charged monthly on the date of your first premium payment.

If you miss a payment it may result in your policy lapsing and the termination of your coverage. However, there is a 30-day grace period included in the policy, allowing you additional time to make the payment and prevent coverage from lapsing. During this period, our system will continue attempting to collect the missing payment.

We send emails each month for your successful payment and if a payment is missed, you’ll be notified via email.

We offer a 30-day money back guarantee, which means if you purchase a policy and want to cancel it for any reason within the first 30 days, you’re entitled to a full refund of your initial payment.

After the first 30 days, you can still cancel at any time without any fees or penalty if you wish to end your coverage.

There are no hidden fees or separate charges! Once you select your term and coverage, the selected premium is the exact amount you will pay for the duration of your policy term.

Included in your price is a built-in rider for accelerating the death benefit in the event of terminal illness. This means that if you become terminally ill, you can access a portion of your death benefits while still living. We do not offer any other riders at this time.

Please note: Receipt of Accelerated Benefit payments may adversely affect the recipient’s eligibility for Medicaid or other government benefits or entitlements. They may also be considered taxable by the Internal Revenue Service. You should contact your personal tax advisor for assistance.