8 InsureTech Companies Changing Life Insurance [Reviews]


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Alice Stevens

Written by: Alice Stevens | Best Company Editorial Team

Last Updated: December 3rd, 2020

InsureTech companies use technology innovations to make the life insurance quote, application, approval, and purchase processes easier. These companies generally focus on term life insurance. However, a few companies also sell permanent life insurance.

Below you'll find a list of eight InsureTech companies, their product and service offerings, and an analysis of what customer reviews on Best Company had to say about the company. Best Company's customer reviews are trusted because of our guidelines and processes for catching fraudulent reviews through vetting all review submissions. 

InsureTech companies are making life insurance more approachable and even easier to buy. Use our analysis below to find the company that will best meet your needs.

graphic with summary of Bestow customer review analysis Read More About Bestow graphic with summary of Quotacy customer review analysis Read More About Quotacy
graphic with summary of Haven Life customer review analysis Read More About Haven Life graphic with Policygenius quick facts Read More About Policygenius
graphic with Ladder quick facts Read More About Ladder graphics with Ethos quick facts Read More About Ethos
graphic with Everyday Life quick facts Read More About Everyday Life graphic with Vantis Life quick facts Read More About Vantis Life

Bestwo reviews header with 4.7/5 star rating and 92 percent 5 star reviews and 8 percent 1 star


  • Best Company Rank — 3
  • Best Company User Star Rating — 4.7/5 (based on 13 user reviews)
  • Financial Strength — Policies from North American Company for Life and Health Insurance®, which has earned A+ financial strength rating from A.M. Best indicating financial stability.
  • Coverage Levels — $50,000 to $1,000,000
  • Type of Policy — Term
  • Tech Innovation — Application and purchase process fully online

Product information

Bestow offers a simple online process that covers all points of the life insurance purchase process: choosing a policy, applying, underwriting, and buying a policy. The online process is also encrypted, so you can be confident in the security of the information you provide.

These simplified processes, including underwriting, makes applying for a term life insurance policy quick and easy. Bestow's process is ideal for people in good health.

Bestow's product offerings also reflect simplicity. It offers 10- and 20-year term life insurance policies. Instead of being overwhelmed by options, you can make your decision based on the term length you want.

Company insight

Jessica Dolnick, Partnerships and Marketing, Bestow

"Simply put, we are one of the fastest and easiest options for purchasing term life insurance! The application process only takes about five minutes and there is no waiting around for a decision or medical exam.

We are also the only startup in the space that has our own foundation. We created the Bestow Foundation to help align with our mission: to create a world where every life is valued and protected. A portion of every sale is donated to the foundation. 

For other companies that offer life insurance, medical exams can be required. In our current environment, many people do not want to invite anyone into their home or go into a doctor’s office. The medical exam requires blood work, so if you are queasy around needles, you don’t have to worry about that with Bestow. 

One thing that’s really great for the user is that you can get an estimated quote without even putting down your contact info. If you don’t like the price, you don’t have to spend your time filling out additional questions or getting emails or texts for something you are no longer interested in. 

The application and approval process we offer is 100 percent online, but if you do need assistance, we have non-commissioned agents who can help you along the way."

Customer reviews

Sixty-nine percent of reviews mentioned how quick the online application and purchase process was. A few reviewers mentioned specific times from five to fifteen minutes.

Roughly 54 percent of reviewers commented on how easy Bestow's process was or how easy the website was to use. Twenty-thee percent of reviewers also mentioned Bestow's lack of a medical exam requirement, which contributes to Bestow's easy process. However, the lack of a medical exam also means that some applicants will be denied coverage.

Roughly 54 percent mentioned satisfaction with the coverage and rates. Reviewers said rates were affordable, competitive, good, low, or better than what another company offered. These are all great adjectives to hear regarding pricing. 

Keep in mind, however, that Bestow isn't a good solution for everyone. One reviewer mentioned that they got low prices because of their "excellent health." Another reviewer commented that Bestow was "made for healthy people."

If you're in good health, Bestow is a great choice for buying quick, affordable coverage. If you have a tricky health history or a condition like diabetes, you may find better rates and coverage using another platform.

Note: Analysis based on 13 customer reviews, the total number of Bestow reviews on BestCompany.com as of July 20, 2020.

Life Insurance Offered by Bestow

Learn more about Bestow by reading our analysis and customer reviews.

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Quotacy review header with 4.8/5 rating, 88 percent 5 star reviews, 6 percent 4 star, 3 percent 3 star, and 3 percent 1 star


  • Best Company Rank — 4
  • Best Company User Star Rating — 4.8/5 (based on 33 user reviews)
  • Financial Strength — Policies from multiple insurers that have earned top financial strength ratings from A.M. Best.
  • Coverage Levels — Unspecified
  • Type of Policy — Term and whole
  • Tech Innovation — Online quote, comparison, and application for term life insurance. Licensed agents help complete the process and assist with whole life insurance inquiries and application.

Service information

Quotacy is a life insurance agency that works to match clients with the policy that best meets their needs. Its licensed agents are experienced and salaried, which means you don't have to worry about upselling or deciding too quickly on a purchase.

You can view estimates and quotes for term life policies online from financially strong life insurers, which makes it easier to compare rates and policies across companies. Quotacy is also committed to showing visitors realistic quotes and estimates instead of the lowest possible rates. This level of transparency lowers discrepancies between the actual rate and the quote.

You can view quotes online without providing contact information. If you see a policy you are interested in, you can quickly complete the online application process and give Quotacy your contact information.

From there, a Quotacy agent will shop your policy to find the most favorable underwriting terms, coverage, and rates for your circumstances. Depending on how the insurer underwrites its policies, you may need to have a medical exam. Quotacy's process isn't instant, but you'll work with life insurance experts to find the best fit.

Quotacy clients also benefit from a complimentary LegacyShield account that make it easy to store important financial information, your will, and memories. Haivng this information in one place makes it easy for your life insurance beneficiaries and dependents to take care of your wishes when you pass away.

Quotacy also sells whole, final expense, and guaranteed universal life insurance policies. To compare these policies, you must reach out to Quotacy directly.

Quotacy's services are free to you because the company earns money from life insurers for selling its policies.

Company insight

Abby Reddy, cofounder and CMO, Quotacy

"Quotacy is the only online life insurance comparison site that shows quotes from the nation’s best life insurance carriers along with InsureTech companies new to the industry.

This allows life insurance shoppers to see prices and compare policies from a robust selection of carriers all in one place and in real time.

After applying, Quotacy double checks the market to make sure clients are matched with the carrier that will give them the best price possible and advocate on their behalf from start to finish.

Our entire goal is to make sure families are protected with life insurance that fits within their budget.

This means that we’re dedicated to helping design policies that fit the specific needs of each family, regardless of how big or small the premium is.

Our caring, licensed agents offer unbiased advice, take care of the legwork, and keep customers informed and on track to make the buying experience as easy as possible."

Customer reviews

Roughly 82 percent of reviewers mentioned customer service. Their experiences were overwhelmingly positive and included satisfaction with communication throughout the application and approval process and praise for the knowledge and professionalism of staff. Only one reviewer was unsatisfied because they worked with an automated agent over the phone.

Roughly 58 percent of reviewers were satisfied with Quotacy's process and mentioned it in their review. While the application and approval process is not instant, reviewers liked how convenient it was to work with Quotacy and the clear expectations of how its process works.

Forty-two percent discussed the quotes and pricing. A few reviewers (9 percent) mentioned that the pricing after application was different from the initial quote offered by Quotacy. These discrepancies can happen because of how the completed underwriting process assesses risk. However, these discrepancies aren't the majority experience of Quotacy clients based on these reviews. Most reviewers (33 percent) used adjectives like good, fair, and affordable to describe the pricing.

Thirty percent of reviews commented on Quotacy's products. To be clear, Quotacy life insurance agents offer services to match clients to the best life insurance policy for their situation. The products themselves are offered by financially strong insurers. Reviewers were satisfied with the selection and quality of the insurance policies and felt that they had found the best option for themselves.

Note: Analysis based on 33 customer reviews, the total number of Quotacy reviews on BestCompany.com as of July 20, 2020.

Quotacy Life Insurance

Learn more about Quotacy by reading our analysis and customer reviews.

Learn More

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graphic of review breakdown of 14 reviews, 86 percent 5 star, 14 percent 4 star

Haven Life

  • Best Company Rank — 1
  • Best Company User Star Rating — 4.9/5 (based on 14 user reviews)
  • Financial Strength — Owned by MassMutual, which earned an A++ rating from A.M. Best.
  • Coverage Levels — Up to $3,000,000
  • Type of Policy — Term
  • Tech Innovation — View quotes and apply online. Schedule at-home medical exam.

Product information

Haven Life is one of the early InsureTech companies. It makes applying for a fully medically underwritten term life policy simple. You can start by getting a quote without providing contact information while seeing what other people pay for a Haven Life policy. Of course, the information provided with these comparisons is anonymous.

Haven Life is another company committed to realistic quotes. It bases its real rate quotes on the information you provide in the application. If you like the quote, you can complete an application online.

Once submitted, Haven Life's software will gather underwriting information from pharmacy benefit managers and MIB, Inc. to determine if more medical information is needed before you can be approved for a policy. If more information is needed, you'll schedule an in-home medical exam and answer any additional questions.

While Haven Life's process isn't instant, it offers a quick and simple way to get a fully medically underwritten policy. This underwriting process is the most thorough that life insurers use to assess the risk of providing insurance and determine the rate at which they will assume the risk. While it takes time, it typically results in lower monthly premiums.

Company insight

Brittney Burgett, marketing and communications director, Haven Life

"Beyond offering a simple application experience, we’re committed to creating meaningful relationships with the families we have the privilege of financially protecting — this is why we offer services like Haven Life Plus.

Haven Life Plus is an innovative rider (think: added feature) to the Haven Term policy that helps policyholders live healthier, fuller and more protected lives. In eligible states, customers can take advantage of the following services, which are included in the cost of the policy:

  • Aaptiv — a leading in-home fitness app; policyholders have access to a yearly subscription at no cost ($99 value)
  • Trust & Will — an online solution for creating a legal will at no cost (a $159 value)
  • LifeSite — a secure, digital safe deposit box for organizing and sharing your family’s vital documents; policyholders receive a subscription for themselves and up to five family members ($80/year)
  • Timeshifter — a travel app that helps to eliminate the symptoms associated with jet lag; policyholders have access to a year of unlimited Timeshifter jet lag plans ($24.99/year)
  • MinuteClinic® — routine health services offered inside CVS Pharmacy and Target stores; policyholders receive a 15 percent off discount on any single service

Offering innovative services like Plus is one of the main reasons why Haven Life receives such fabulous customer reviews."

Customer reviews

Roughly 62 percent of reviewers commented on how easy and clear Haven Life's application and approval process was. Thirty-one percent of reviewers commented on its convenience or liked that the initial application was online.

Fifty-four percent liked how quick Haven Life was. Given that Haven Life's process does include medical exams for some applicants, quick is a relative term. For a fully underwritten policy, Haven Life has made the process as fast as possible: Apply online, schedule a medical exam within two weeks, answer any follow-up questions, get approved and purchase. Reviewers also commented on how quick the turnaround was. One reviewer expressed difficulty with scheduling a medical exam and frustration that they wouldn't schedule more than two weeks out.

Fifty-four percent of reviewers mentioned needing to complete a medical exam. Medical exams are common when working with Haven Life. All the reviewers except one commented on the convenience of scheduling an at-home medical exam that took about 30 minutes. 

Fully underwritten policies usually result in lower premiums than simplified or guaranteed issue policies because the underwriting is much more detailed. Even though working with Haven Life may take longer than buying a policy instantly online, you may be able to save on premiums by taking additional time.

Roughly 38 percent of reviewers were happy with Haven Life's rates. The most common adjective used to describe Haven Life rates was great. One reviewer said the rates were affordable. Another one said that the rates were pretty close to the cheapest. While life insurance rates are based on the underwriting process, it's good to know that many reviewers were happy with their policy's rate.

Note: Analysis based on 13 customer reviews, the total number of Haven Life reviews on BestCompany.com as of July 20, 2020.

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screenshot of Policygenius listing on Best Company


  • Best Company Rank — No rank
  • Best Company User Star Rating — 5/5 (based on 3 reviews)
  • Financial Strength — Policies from insurers with A- or higher A.M. Best financial strength rating.
  • Coverage Levels — Unspecified
  • Type of Policy — Term, whole, and universal
  • Tech Innovation — Online quote, comparison, and application. Licensed agents available to assist with application process.

Service information

With Policygenius, you can compare quotes and policies from multiple insurers. If you see a policy and rate that you like, you can choose it and provide your contact information to Policygenius. You'll be contacted by one of Policygenius's licensed life insurance agents to complete your application.

Policygenius offers realistic quotes based on information you provide. Most of its quotes are within $10 of the final approved rate, so you'll know what to expect once your application is complete.

Policygenius's services are free because insurers pay the company when they sell its policies.

Company insight

Frank Kumpuris, senior vice president of life and disability insurance operations, Policygenius

"One feature that sets Policygenius apart from other insurance marketplaces is our emphasis on education. We want people to feel empowered by their financial decisions, so our website houses an abundance of content — from informational guides to surveys to insurance company reviews — to help people get insurance right. We also have proprietary tools, like our life insurance calculator, to help people determine how much coverage they need when shopping for a policy. 

Policygenius also has a live chat feature — as opposed to only using a chatbot — so people can get their questions answered and have a personalized experience. Our goal is to give consumers a seamless digital experience while maintaining the human contact we all want when making big financial decisions.

Policygenius helps you find and secure all of your insurance needs — whether for life, home, auto, disability, etc. — in one place: Online. We’ve partnered with more than forty different insurance companies in our digital marketplace, so people can compare multiple options at the same time and ultimately get the policy that best suits their needs."

Policygenius Life Insurance

Learn more about Policygenius by reading our analysis and customer reviews.

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screenshot of Ladder listing on Best Company


  • Best Company Rank — No rank
  • Best Company User Star Rating — No rating
  • Financial Strength — Policies from Fidelity Security Life Insurance Company® and Allianz Life Insurance Company of New York. Both companies have earned high ratings from A.M. Best.*
  • Coverage Levels — $100,000 to $8,000,000
  • Type of Policy — Term with adjustible coverage levels
  • Tech Innovation — Online application. Instant approval if qualified. Ability to adjust coverage level once you've purchased the policy.

*Allianz Life Insurance Company of New York has been rated A+ (Superior) — affirmed September 2019 and Fidelity Security Life Insurance Company has been rated A (Excellent) based on an analysis of financial position and operating performance, by A.M. Best Company, an independent analyst of the insurance industry. For the latest rating, access www.ambest.com.

Product information

Like other insuretech companies, Ladder offers term life coverage. It offers a quick online application and, if qualified, approval process. Some applicants won't qualify for coverage through Ladder. However, its process is convenient and quick for those who do.

Ladder doesn't require contact information before it shows price quotes. You can also see how much different coverage amounts would cost you. This makes it easy to determine whether a life insurance policy through Ladder fits into your budget. If you're happy with your quote, it's easy to complete the application process to see if you're approved.

Ladder stands out from other insuretech companies because its policies are adjustable. You can decrease your coverage at any time, which will also lower your monthly premiums. This feature can help you save money as your coverage needs decrease over time.

You can also apply to increase your life insurance coverage if the reverse happens. If you're approved, your monthly premiums will increase.

Company insight

Samantha Genevay, affiliate manager, Ladder

"When consumers buy a life insurance policy, they're covering their needs as they stand today — a mortgage of $X, other loans, young kids, etc. As life happens, things change — you pay down your mortgage, maybe you get a stellar promotion at work, your kids become finally independent, etc.

Or, the flip side, you decide to grow your family, you purchase a larger home with a bigger mortgage, you have aging parents to care for, you start a business and take out loans, etc.

Whatever it may be, your needs are likely to change over time and yet most insurance policies are geared to be 'get it and forget it'. This leaves policyholders paying the same amount year after year regardless of how their situation evolves. Ladder makes it easy to adjust coverage, all online at any time in a matter of clicks."

Life Insurance Offered by Ladder

Learn more about Ladder by reading our analysis and customer reviews.

Learn More

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screenshot of Ethos listing on Best Company


  • Best Company Rank — No rank
  • Best Company User Star Rating — No rating
  • Financial Strength — Polices from Legal & General America, whose life insurance company Banner Life Insurance Company has high financial strength ratings.
  • Coverage Levels — Unspecified
  • Type of Policy — Term
  • Tech Innovation — Online quote, application, and approval.

Product information

Ethos offers a quick online quote and application process for term life insurance. It focuses on providing reliable quotes, which means that you can trust the pricing you see when you complete the quote process.

Once you complete the online application, underwriters will review it and make a decision. Some applicants will need to complete a medical exam as part of this process.  

Ethos is a fast and simple way to apply for term life insurance. Ethos is not available in New York, so New York residents will need to find another company.

Company insight

Erica Kolari, communications manager, Ethos

"Since its inception, Ethos has been dedicated to dismantling and redesigning life insurance from top to bottom. Ethos built its entire technical stack from scratch, which means that, unlike any other modern startup in the space, it has the benefit of using one advanced system to manage a seamless customer experience. In order to bring the end-to-end customer experience into the 21st century, the company built custom integrations to connect its predictive analytics-driven system to partner providers; in fact, the technical co-founder literally slept in a partner’s office to complete an integration (APIs don’t exist in this world). 

In turn, Ethos’ application and approval process is fast, easy, and inexpensive (minutes versus 10 weeks), a major innovation when you consider that many carriers still require customers to pay monthly with a paper check. 

Ethos also applies machine-learning that analyzes customer data to ensure customers are never paying more than necessary for coverage (a practice we call right-sizing), in combination with a customer service team who uses that data and their own knowledge to ensure customers are never paying more than they need to. Roughly 50 percent of the customers who have right-sized policies end up with a smaller monthly premium. This practice is in direct opposition to the traditional model of sales-incentivized methods that are solely focused on making as much money as possible off the individual."

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screenshot of Everyday Life listing on Best Company

Everyday Life

  • Best Company Rank — No rank
  • Best Company User Star Rating — No rating
  • Financial Strength — Polices from Legal & General America, whose life insurance companies Banner Life Insurance Company and William Penn Life Insurance Company have earned high financial strength ratings from A.M. Best.
  • Coverage Levels — $100,000 to $2,000,000
  • Type of Policy — 10– to 40–year term policies with automated coverage level changes
  • Tech Innovation — Online application and approval; policy coverage levels change according to a formula over time

Product information

Everyday Life offers its clients personalized policy recommendations and quotes based on their needs. You can view quotes and policy options by using Everyday Life's proprietary Needs Assessment Tool. 

You can also complete the initial application online. Once you've completed the initial application, an underwriter will call you to complete the application. In some cases, you may need to complete a medical exam as part of this process.

What makes Everyday Life's policies standout from other insuretech companies is that its Predictive Protection™ policies are pre-designed to change over time as your coverage needs lower. This preset coverage change means that you can save money on premiums and don't have to think about when you want your coverage level to change.

Company insight

Jake Tamarkin, cofounder and CEO, Everyday Life

"Our personalized, adaptive coverage saves consumers money — from 30 to 80 percent off the total cost of insurance — while giving them confidence they have the right coverage to protect their loved ones. We are the only provider who does this.

Our quick and easy needs assessment makes it possible for everyone to analyze their situation and get objective advice, quotes and explore different scenarios, all based on financial planning best practices — for free, in three minutes with no contact info required. Made possible by our breakthrough technology designed to always put the customer's needs first (we aren't hesitant to tell you if we think you don't need any life insurance).

We offer simple, convenient, online application, with instant approval in many cases. It's easy on your phone to get from "Get Started" to "Congratulations to Here's Your New Policy!" in less than 20 minutes. People enjoy the simplicity of our self-service experience, with the option to connect with licensed experts (financial planning experts, not commissioned salespeople!) are available if you need us via chat, email, phone, text, but most people enjoy the self-service simplicity."

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screenshot of Vantis Life listing on Best Company

Vantis Life

  • Best Company Rank — No rank
  • Best Company User Star Rating — No rating
  • Financial Strength — A+ from A.M. Best
  • Coverage Levels — Varies by policy. Term: $50,000 to $2,000,000. Whole: up to $1,000,000. Final Expense: $5,000 to $20,000
  • Type of Policy — Term, whole, and final expense
  • Tech Innovation — Online application and approval

Product information

Whether you're looking for term, whole, or final expense life insurance, Vantis Life makes it easy to apply and buy a policy online. Most InsureTech companies focus on term life insurance, so the variety is a great benefit. 

Before you start an application, you must provide Vantis Life with your contact information. If you're still in the research phase, you may prefer to use other quote sites first.

Vantis Life's policies do not require much underwriting, which makes the process easy and quick. Remember that the less underwriting an insurer completes, the higher your premiums will be because the insurer considers less information when assessing risk.

One especially nice feature of Vantis Life's term and whole life insurance policies is the charitable giving rider automatically included. With this feature, the policyholder can choose an IRS 501(c) (3) nonprofit. When a claim is made, the full death benefit will be paid to the beneficiary and Vantis Life will make an additional donation to the specified nonprofit. The additional donation is one percent of the death benefit. The donation does not exceed $100,000.

Company insight

Manny Lirio, AVP consumer direct marketing, Vantis Life

"There are quite a few advantages to choosing Vantis Life. One of the biggest advantages is our technology. Whether it’s via a desktop computer or a mobile phone, our award-winning quote and application online platform allows consumers to apply for ALL of our life insurance products online in minutes.  Our technology also cuts down the time it takes to underwrite. If the consumer is both physically and financially fit, they could receive an offer for life insurance immediately, otherwise, they will receive their offer in only three to five days.   

Another advantage is the fact that we are the issuing company, not a third party. When customers apply for life insurance they are buying directly from Vantis Life. Unlike many carriers, we allow consumers to pay their initial and recurring payments via ACH or credit card at no additional cost, this way they are financially protecting their loved ones while earning their miles or points."

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The Top Life Insurance Companies

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#1 Haven Life Insurance Agency chevron_right
9.6 Overall Score
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#2 Policygenius chevron_right
9.5 Overall Score
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#3 Bestow chevron_right
9.0 Overall Score

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