Lemonade Life Insurance Review

MoneyGeek’s analysis of Lemonade shows that the company may suit you best if you need significant insurance coverage for a specific term, are looking for a completely online process and want to avoid the hassle of going through a medical exam.

But, this company won’t be suitable if you seek permanent life insurance, like whole life or universal life policy, since they are not available. MoneyGeek recommends purchasing a whole life policy from State Farm, which offers various policy types and valuable rider options.

If you need a universal life policy, Northwestern Mutual may be the ideal option as its policies come with many rider options and dividends and let you choose the length of the payment term.

Keep reading to find out the details of Lemonade’s term life insurance policy options.

The 2022 Insurance Barometer Study from the Life Insurance Marketing and Research Association (LIMRA) shows that 44% of U.S. adults would face hardship within six months if they didn’t have life insurance.

MoneyGeek explains which type of life insurance policy Lemonade offers so you can determine if it is the right choice to protect your loved ones.

Lemonade’s term life insurance policy may be the best option for individuals who are healthy and are looking for significant short-term coverage without a medical exam and a fast application process.

The following sections will help you understand how to buy life insurance from Lemonade and what to do in case the company rejects your application.

Read the following frequently asked questions to understand how Lemonade life insurance policies work.