Geico Life Insurance Review

As a result, Geico Life Insurance does not directly sell life insurance to its consumers. Through a broker called Life Estimates, you may obtain quotes from up to 50 insurance companies simultaneously. Your beneficiaries will be unable to benefit from this service, which covers up to $25 million in assets. To understand more about what Geico Life Insurance has to offer, read our Geico Life Insurance Review.

Geico Life Insurance Pros and Cons

Pros

GEICO Life Insurance Review - GEICO  Insurance Logo
  • You have 50 service providers at your disposal.
  • The bar is set rather high.
  • Extremely broad coverage
  • Currently available quotations
  • In which time zones do your customer service agents work?
  • Geico is a partner of ours.

Cons

  • In comparison to a more customized approach
  • Incapacity to receive more financial aid.
  • Long-term employment is recommended.

Geico life insurance rates

Pricing is determined by insurers and the type of coverage you select, as Geico is not an insurance provider. A Geico quotation identifies which policies are company-specific and which are not.

You may compare costs by selecting the level of coverage you want and the payment method you prefer: monthly or yearly.

What affects my rate with Geico?

Life insurance policies are calculated risks. When determining your premium, insurers consider your health and lifestyle. Apart from the duration and scope of coverage you pick, they also consider this. To safeguard their financial interests, suppliers reserve their most favorable pricing for their most loyal customers.

Underwriting requirements for each of Life Quotes’ 50 insurance providers may evaluate the following variables:

  • Tobacco use. If you have not smoked or used nicotine in the preceding five years, you may be ineligible for the most competitive insurance premiums. The majority of insurance companies permit the purchase of one cigar every month for a special occasion.
  • Age. Candidates who are younger and in better health qualify for reduced insurance rates than those who are older and in poor health.
  • A driver’s license record. Are you a first-time offender with a spotless criminal record devoid of significant charges such as DWI or DUI? There is a strong probability you may receive less compensation.
  • Criminal conduct in the past. An insurance provider may refuse coverage or increase your premiums as a result of a recent arrest or charge of a crime.
  • Health. They’ll pay extra since they’ve been diagnosed with cardiovascular and cancer-related ailments, as well as skin disorders such as malignant moles and diabetes. Apart from your height and weight, insurers consider your cholesterol level, blood pressure, BMI, and body mass index (BMI).
  • Occupation. Increased salaries are paid to firefighters, war journalists, police officers, and other risky vocations.
  • Travel. On the Life Quotes form, there is a question asking if you intend to go to any countries with a Travel Warning Level of 3 or 4. Visiting a risky or war-torn country may result in a rise in the cost of your insurance.
  • Hobbies that endanger your life. Expect to pay a larger premium if you like extreme hobbies such as vehicle racing, scuba diving, skydiving, bungee leaping, or rock climbing.
  • Alcohol and drugs are two instances of this. You must not have a history of drug or alcohol misuse to qualify for the highest prices.

How to get a quote from Geico life insurance

When you’re ready to compare rates, give Geico a call at 888-532-5433 or complete an online form.

The steps are as follows:

  1. Visit Geico’s website to learn more. Hover your cursor over Insurance in the top left corner of the screen. After choosing Additional Insurance, pick Life as the insurance type.
  2. After inputting your zip code, click the Begin Quote button.
  3. Please click this link to begin filling out the online form. Select the coverage level that best meets your needs, and then complete the required forms with your personal information.
  4. Answer yes or no to a series of health and lifestyle-related questions. Click the See Quotes button to view the quotes.
  5. A drop-down menu will display many insurance companies. To focus exclusively on no-exam insurance, you may customize the quantity of coverage and the duration of the policy term. Once you’ve chosen an appropriate policy, click the Continue option.
  6. By providing your name and contact information below, you may obtain an application. To proceed, you must click the Continue button. If you make a purchase, we’ll send you a confirmation email and assign you a customer number.

What’s going to happen after that?

After you submit your application, Life Quote takes care of the rest. Before the provider submits your application, they will contact you to ensure that everything is in order. The insurance company will tell you if more information or a medical checkup are required. The response time varies significantly depending on the service provider. Approval for plans requiring a medical examination can take up to 30 days and is practically never granted unless the insurance is valued at more than $500,000.

What types of life insurance coverage does Geico offer?

Life Quotes, a Geico partner, enables you to compare insurance from 50 different insurers. A.M Best, only the highest-rated suppliers are included on the site, and the site is linked with only those businesses (Excellent). AIG, Brighthouse, Lincoln Financial Group, Pacific Life, Protective Life & Penn Mutual, and Protective Life & Penn Mutual are just a handful of the well-known financial services businesses.

Life Quotes advocates for individuals of different ages and health histories, as well as those who decline medical testing.

  • Term life insurance. It specializes in insurance contracts with terms ranging from ten to thirty-five years. Payments on this plan may be made monthly, quarterly, or annually, making it an inexpensive option. Quotes for no-exam and accidental death insurance are often requested, as are typical terms such as living benefits and premium refunds.
    The premium for an insurance with a face value of $5,000 to $25 million remains unchanged. It is possible to convert to a long-term policy at the conclusion of the term, although this is less common.
  • Permanent life insurance. Permanent life insurance is an additional cost with Geico, as they only provide term plans. This insurance provides long-term coverage with a monetary value.

There is a guaranteed death benefit as well as a cash value for your dependents in the event of your death.

What riders can I add to my policy?

The following riders may enable you to tailor your protection, but you should confirm this with your insurance provider:

  • Rider for increased death benefit
  • Add-on for accidental mortality insurance
  • Rider who is under the age of 18
  • Rider for disability income assistance
  • A rider’s spouse
  • Premium-rider waiver

Geico life insurance reviews and complaints

Geico has become a household name as a result of its excellent marketing. Despite the fact that the firm has been in operation for more than eight decades, the BBB does not recognize it. Despite the BBB’s A+ rating, the firm has not responded to a single consumer complaint.

In the last three years, Geico has received and processed 3,129 complaints, the great majority of which have been resolved. On TrustPilot, Geico received a single star out of five from 28 users. Despite the fact that others lauded the company’s inexpensive costs, several buyers expressed dissatisfaction with the company’s customer service.

Geico’s partner, Life Quotations, provides life insurance quotes.
Since 1997, the Better Business Bureau has assigned this business an A+ rating. Only two complaints have been lodged with the Better Business Bureau in the last three years.

To see what other company has to offer, check out Freedom Life Insurance Review.

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