Fabric Increases No-Exam Life Insurance Coverage Limit and Adds Longer Term Lengths to Serve More Families

BROOKLYN, N.Y., July 14, 2021 /PRNewswire/ -- Fabric, a life insurance innovator helping parents protect their family's financial future, today announced several new product features including no-exam eligibility for up to $1.5M in term life insurance coverage, the addition of 25-and 30-year term length options, and an increase in no-exam eligibility to age 60.

New features are in response to a recent Fabric customer survey which found 50% of respondents wanted more term length options (29%) and more coverage options (21%). In addition to expanding no-exam eligibility, policies offered through Fabric are now available in 10, 15, 20, 25, and 30-year term lengths to meet the needs of families of all shapes and sizes. The application takes only 10 minutes to complete, with immediate approval for qualified applicants.

"Fabric is 100% focused on protecting the financial well-being of growing families," said Adam Erlebacher, CEO of Fabric. "We've heard directly from our customers that they want more options to protect their loved ones and now we are delivering on that promise. We've made life insurance personalized, instant, and affordable, with a wide range of flexible options."

Fabric was founded by parents, for parents. Modern parents want to plan for their financial futures in a digitally sophisticated way and Fabric's easy-to-use mobile app empowers parents to do just that. Fabric's one-stop shop offers parents a simple way to protect their families – in addition to purchasing life insurance, they can create a free will, set up a 529 college savings account, open a rainy day savings fund, and organize important financial information. For more information, visit meetfabric.com.

About Fabric
Fabric is where parents come to start their families' financial lives. Fabric makes life insurance easy and offers a fleet of simple tools to help people stop procrastinating and start tackling their must-do lists. With Fabric's app, parents can buy modern, affordable life insurance, create a free will and organize their family's important financial information.

Fabric offers life insurance policies issued by Vantis Life, currently Rated "A+" ("Superior") for financial strength by A.M. Best and wholly owned by Penn Mutual (est. 1847). Fabric was founded in 2015 by Adam Erlebacher and Steven Surgnier, and is backed by Bessemer Venture Partners and leading financial technology investors. Learn more about Fabric and download the app at meetfabric.com.

SOURCE Fabric