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Life Insurance Lab Life Insurance Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
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Life Insurance Lab is an online life insurance aggregator site that connects customers interested in life insurance with a list of potential providers.

Customers can get a quote from a top carrier in as little as 2 minutes.

The company only requires some basic information to get the ball rolling such as gender, age, and previous medical conditions.
 
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How is Life Insurance Lab rated?

Breakdown

4.5/5
Company Stability
4.5/5
Reputation
4.3/5
Policies & Coverage

Overall Rating: 4.4 / 5 (Excellent)

Life Insurance Lab is your standard online insurance marketplace.

It offers a host of partner companies that features some of the bigger and well-known life insurance providers alongside local entities as well.

It is a particularly good choice for those who may not be as savvy when it comes to life insurance and want to get the widest possible sampling of coverage and policy options.

For those who prefer the one on one touch of a personal agent employed by an individual life insurance company, it's probably a better idea to look elsewhere.

Financial Strength

Key Details

Standard & Poor's Financial Rating
AA
Moody's Financial Rating
Aa2
AM Best Financial Rating
A++

Company Stability - 4.5 / 5

Life Insurance Lab's online marketplace offers policies from innumerable local and national life insurance carriers.

Many of the larger, more recognizable firms, like Travelers, hold outstanding financial strength ratings (FSR) and are judged as able to meet long-term claims paying obligations, which is obviously of paramount concern when shopping for life insurance.

However, should a customer choose to go with a life insurance policy provided through Life Insurance Lab's online portal, we recommend thoroughly researching the financial strength, history, and reputation of whichever company Life Insurance Lab ultimately connects you with.

Reputation & Customer Experience

Customer Ratings

Date Collected
2017-10-16

Reputation - 4.5 / 5

Although Life Insurance Lab claims on its website to be BBB accredited with a grade of A+, we could not verify this as there is no BBB entry for the company.

Additionally, it is almost impossible to make any kind of evaluation as to their customer service as there is barely anything in the way of customer feedback online.

This is no doubt due to the young age of the company.

However, most of the entities Life Insurance Lab can connect you with do have this information.

As with financial strength, we encourage consumers to research the individual companies with which they are paired through the website for NAIC complaint ratios, BBB reviews, and Trustpilot scores.

Life Insurance Lab Policies

Life Insurance Lab offers customers the following life insurance policies: Term, Whole Life, Universal Life, Variable Universal Life, Indexed Universal Life, Survivorship Life, Guaranteed Acceptance/ Final Expense.

Term Life Insurance

Available Terms
5 year
10 year
15 year
20 year
25 year
30 year
35 year
40 year

Key Term Policy Features

  • Term-Permanent Conversions
  • Guaranteed Level Premiums
  • Guaranteed Renewability
  • Waiver of Premium
  • Accelerated Death Benefit
  • Return of Premium

Policies & Coverage - 4.3 / 5

Life Insurance Lab works with multiple partner carriers in order to get customers a wide range of quotes.

With the ability to provide policies from such companies as MetLife and the Hartford, Life Insurance Lab can connect consumers with nearly every coverage option available.

This includes term, whole, and universal life insurance, plus nearly every permutation of each.

But be aware, when filling out their online form you are consenting to receive communication from many different sources, including actual agents and automated calling and emailing.

Flexibility and Available Riders

Available Term Life Riders

  • Child Protection Rider
  • Accidental Death Benefit Rider
  • Disability Income Rider
  • Guaranteed Insurability Rider
  • Critical Illness Rider
  • Spouse Protection Rider
  • Long-Term Care Rider
  • Family Income Benefit Rider

Available Carriers

MetLife, American National, the Hartford, Travelers

Flexibility & Available Riders - 0 / 5

Additional Company Information

Homepage URL
http://www.lifeinsurancelab.com
Year Founded
2017

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Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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