Last Updated: May 2020
If you’re considering Geico for life insurance, this review will help you decide if they are a good fit for you.
You are going to learn all about GEICO life insurance, including how it works (hint: they don’t actually sell life insurance), and a review of the life insurance policies you can get through Geico’s life insurance platform. After that, we’ll review some pros and cons of using Geico and alternative ways to purchase life insurance.
- GEICO Life Insurance Review = LifeQuotes Review
- Life Insurance Policies Offered Through GEICO
- Pros of Life Insurance from GEICO (via LifeQuotes)
- Cons of GEICO Life Insurance (via LifeQuotes)
- The Better Way to Find Life Insurance
Life Insurance is Boring. Let’s Get To The Root Of It! Here are the key takeaways…
GEICO does not actually sell life insurance directly. Instead, Geico’s online life insurance platform directs people to a life insurance agency called LifeQuotes, Inc. You can get term & whole life insurance. They compare over 30 different companies to find you the best rates.
Name recognition opens doors for insurance companies. Companies spend money to connect their brand names to abstract ideas such as stability, reliability, and security.
It’s the consumer’s job to sift through the catchy marketing campaigns and assess the coverage a company actually offers. Any experienced shopper knows this.
But then there are times when a company connects its brand with a product they don’t even sell. You could call this the GEICO life insurance effect.
GEICO Life Insurance Review = LifeQuotes Review
The first thing you should understand when reviewing GEICO for life insurance is that they don’t sell life insurance. They actually use their marketing resources and brand to send customers to a life insurance agency called LifeQuotes, Inc. (more on this below).
How does this work?
A few years ago I wrote a post about GEICO ranking first in Google for term life insurance even though it doesn’t even offer term life policies.
At the time, I thought GEICO’s tactics seemed deceptive. The company’s logo, gecko mascot, and brand colors greeted customers as they bought insurance from another agency.
Now, GEICO points out this distinction on its site. GEICO tells customers they’ll be leaving its site and linking to a different company when they ask for a life insurance quote. This provides some much-needed transparency.
But after clicking past this alert, customers will still see GEICO’s colors and logo, which implies they’re buying a policy from GEICO.
The page’s URL will tell you otherwise, but when reviewing the page, it is not very clear that the policy is not from GEICO. As you can see, it seems like they are trying to hide this information.
It’s up to the customer to dig a little deeper when shopping for life insurance coverage, but since GEICO is such a trusted name in auto and home coverage, shoppers may naturally think the term life policy they’re buying through GEICO’s site comes with the same reputation.
If GEICO Doesn’t Sell Life Insurance, What Am I Buying?
Now you know, when shopping for life insurance at GEICO will not get you a life insurance policy from GEICO.
The reason is simple: GEICO does not offer term life coverage. Instead, you’ll be getting coverage through a call center called LifeQuotes, Inc., out of Darien, Illinois. LifeQuotes, Inc., has a special quote portal featuring the GEICO nameplate and color scheme.
GEICO customers who click for a term life quote from GEICO’s site will get LifeQuote’s special GEICO-themed portal (above), so it’s possible a customer could still get the wrong idea.
As I already said, GEICO does point out its partnership with LifeQuotes, Inc., explicitly. I no longer think they’re being intentionally deceptive. But purchasing term life insurance is such an important decision, that you should know exactly what you’re buying and who you’re buying it from.
With so many top life insurance companies out there that can help you find quality and affordable term life coverage, you may never consider LifeQuotes, Inc., except for its association with GEICO.
In a nutshell, here’s the point: GEICO is using its brand name to sell your information to another call center. This is pretty common online, but I’m still surprised to see GEICO taking part.
Anyone considering buying term life insurance from “GEICO”, especially existing GEICO auto or home customers who expect to have a similar experience with a GEICO term life policy, should understand this relationship (more on this below).
Why GEICO Doesn’t Sell Life Insurance
GEICO is able to sell home and auto insurance, so why not life?
Cars and homes have assessed values which make them simpler to insure. Your policy can be set up to replace the value of your property if it is destroyed or damaged. Yes, there are variables to consider and state laws to follow, but you have a simple goal.
Life insurance is different because your life cannot be replaced. Instead, you can try to replace the income you would have brought in for your family. You can try to anticipate the future needs of your family if they were forced to rebuild a new life after you had died.
Determining the risk to your life can be more complicated, too, when you consider medical conditions, occupational hazards, hobbies, and the results of a medical exam.
That’s why a company can like GEICO can excel at auto and home coverage but decide to contract with a third party for life insurance.
Life Insurance Policies Offered Through GEICO
GEICO lists a lot of quality life insurance companies on its site, almost 50 companies in total, with many of them being household names. This can give consumers the idea their coverage through GEICO could be connected to these names.
However, GEICO connects you to only one company, the aforementioned LifeQuotes, Inc., of Illinois.
After filling out the LifeQuotes quote tool you will see various policies available to you from different companies. Depending on your answers to the questions, you may see these policies.
- 10-year term
- 20-year term
- 30-year term
- Lifetime policy options, or whole life insurance
- No-exam life insurance
You will see these policies from a number of different companies. However, keep in mind that each company and policy has features that are not detailed in this simplified view provided by LifeQuotes.
Below, rather than reviewing GEICO’s life insurance policies, which don’t exist, we will review the services LifeQuotes, Inc., offers on behalf of GEICO.
Pros of Life Insurance from GEICO (via LifeQuotes)
Other than its affiliation with GEICO, why else should you consider getting term life coverage through LifeQuotes, Inc.?
Let’s give LifeQuotes, Inc., some credit.
- They do offer over 30 life insurance companies.
- They’ve been around since 1984 when they were called Quotesmith.
They’re obviously doing some things the right way.
If you came upon the company’s home page after a Google search and retrieved some quotes for term life coverage, we don’t think you’d be making a terrible mistake.
But this is just the beginning. The point of an insurance agency, whether online or in-person, is to do things you can’t do yourself.
Cons of GEICO Life Insurance (via LifeQuotes)
When choosing life insurance, quote tools can help you get a general idea of what’s out there, but to be sure you’re getting the best policy, working with a true life insurance expert is best.
Life insurance has too many nuances and policies have too many details to be sold from a script. Not to mention, this is a VERY important life decision.
Having a personal conversation with you, and determining your specific needs and concerns as you shop for life insurance coverage is incredibly valuable. Then, a good expert will shop quotes from insurers which excel specifically in meeting needs like yours.
And this is where GEICO via LifeQuotes, Inc., gets it wrong.
About GEICO’s Life Insurance & LifeQuotes Call Center
When LifeQuotes, Inc., gets referrals directly from GEICO’s site, Life Quotes has a team of outside sales agents working from their call center selling from scripts.
When you request life insurance, your information is entered into a dialing platform and will be dialed for at least 90 days until they get a yes or no answer from you.
This isn’t how life insurance should be offered. You should be able to have a real, unscripted conversation and not be bothered by robocalls.
The Better Way to Find Life Insurance
When shopping for life insurance you should be able to compare life insurance quotes online and have access to an experienced life insurance agent to answer your questions, especially if you have specific health issues.
For example, some insurance companies’ underwriting processes favor applicants with certain health conditions which could save you a significant amount of money as you try to prepare for your family’s future.
A call center agent typically doesn’t have this level of expertise. Call centers value volume, and you can’t achieve a high volume by having a long, one-on-one conversation with a single customer.
In contrast, an independent life insurance agent makes it his or her life’s work to help consumers find the best life insurance options.
Independent agencies like us can help you sift through the fine print and offer decades of experience dealing with quality life insurance companies.
About Rootfin
Life insurance is personal. Our personal touch is to make sure we match you with a carrier that views you with the highest rating. We’re not a call center agent working from a script.
Our experience and knowledge of finding the best life insurance rates for our clients, even in high-risk situations, is second to none.
Start by comparing instant life insurance quotes on our site and fill out our quote request form. Then, call us to compare the details of your situation to ensure you find a policy that is a better fit than you’d find through GEICO life insurance.
We have reviewed over 50 life insurance carriers and agencies here to help you compare and make your decision.
Here are some other life insurance agencies to review along with GEICO.
Need help finding a good honest and legit life insurance company. Please help! Thank you!
Hi Yvette,
Just sent you an email. Thanks for reaching out to us.
Actually, Lifequotes.com is complete trash.
I wouldn’t say they’re complete trash. There’s much worse out there. You can do much, much, MUCH better though.