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Geico Life Insurance Review 2020

Geico life insurance is a bit of a unique position in the life insurance world. You can find life insurance quotes through Geico, but those quotes come from Life Quotes, Inc. At the bottom of the website, it states that the life coverages are written by non-affiliated companies and secured through Geico Insurance Agency. With that in mind, below in our Geico Life Insurance review, we’ll cover this situation, what products you can find and what the digital experience is like. 

Pros and Cons

ProsCons
– Seamless quote process
– Quick access to a variety of plan types 
– Process is partnered with Geico, one of the most well-known and finically secure insurance agencies in the market
– Plans are not actually through Geico: this is a partnership between Geico and Life Quotes, Inc., and plans are through other insurers like Protective and Transamerica 
– Since the plans are not technically through either of these companies, it’s hard to find relevant consumer reviews

Life Insurance Products Found from Life Quotes through Geico

To start our Geico life insurance review, we’ll cover what you can find through Geico’s life insurance website. The website talks about being able to find term life, whole life and universal life.  

Each of these products is described in such a way that they seem very in line with industry standards. It mentions that term life is for a set period of time and could be used to help replace income or cover other expenses. It is interesting to note that you could be eligible for a non-medical exam policy through the term life option.

Meanwhile, whole and universal life are described as permanent coverage types that can supplement or replace income, and there’s a possible side cash fund that builds over time. That’s very in line with these types of products. 

Financial Strength Rating

Since this is a unique situation of Geico working with Life Quotes, we tried to look up the financial strength rating of both as part of our Geico life insurance review.  

Geico has a financial strength rating of A++ (Superior) through AM Best, the highest rating a company can get.  

However, when we search for Life Quotes, Inc., lifequotes.com and the dba Quotes for Life Insurance Agency, none of those come up through AM Best.

Customer Satisfaction Rating

Geico was not listed through the J.D Power 2019 U.S. Life Insurance Study. However, Geico has an A+ rating with the BBB. But the company only has a little over a one-star rating through consumer reviews. Complaints tend to revolve around auto insurance.

Life Quotes, Inc. is listed with the BBB and carries an A+ rating with the agency. However, it only has a one-star rating through customer reviews. This is only from three reviews and complaints revolve around heavy sales tactics like spam and confusion with the quote and cancellation process.   

Consumer Complaints Rating

Through the NAIC, Geico (NAIC company code 14138) had a complaint index of 1.38 for all types of insurance in 2019, which is higher than the industry average rate of 1.0. Individual life carried no complaints, most likely because the quotes are partnered with Life Quotes and policies are offered through other companies.  

Life Quotes does not have a listing with the NAIC that we could find under either Life Quotes, Inc., lifequotes.com or the dba Quotes for Life Insurance Agency, most likely because they are just a quote company.

Digital Experience Rating

You can get a quote just by entering your zip code at Geico’s website. True to the website’s word, you get routed to a website with “Geico Portfolio” listed at the top, but the site has a lifequotes.com URL.  

As part of our Geico life insurance review, we found that the quote process is a fast one. We entered a hypothetical 45-year-old male for $250,000 in coverage. We got the following quote page:

It was a seamless process, and it’s nice that it outlines whether an exam is required.  

Final Thoughts in our Geico Life Insurance Review 

At the end of the process, it’s easy to wonder why you’d even include Geico in looking for life insurance. The quote process is powered by lifequotes.com. And the policies the site provides are from other insurers. However, it was a fairly seamless quote process, and Geico/Life Quotes provides a system that can be one tool in your search for life insurance quotes.

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