Geico Life Insurance Review 2020

Thang Truong
Thang Truong
Updated on:

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.

Thang Truong
Thang Truong

Thang Truong covers small business insurance and small business success at BravoPolicy. He is a licensed P&C insurance agent. Previously, he held product leadership positions at realtor.com, Capital One, NerdWallet, and Mulberry Technology. He holds a MBA degree from UC Berkeley - Haas School of Business.

More Stories

6 Best Indexed Universal Life Insurance (IUL) for 2023

Are you looking for a way to set aside some extra money for your senior years, and maybe a little extra for loved ones to inherit? Most people opt for indexed universal life insurance because it offers the greatest cash value growth tied to the performance of S&P 500 index with the least risk thanks […]

Thang Truong
Thang Truong

Best Self-Directed Roth IRA Companies for 2023

A self-directed Roth IRA is much like a regular Roth IRA, but offers more flexibility as far as what you can invest in. Whereas a regular Roth will only let you invest in stocks, bonds, mutual funds, ETFs, and real-estate investment trusts, a self-directed Roth lets you invest in a greater variety of investment options.  […]

Thang Truong
Thang Truong

The 5 Best Hybrid Long-Term Care Insurance Companies for 2023

If you’ve decided to plan for every eventuality, you’d be smart to include a plan to cover long-term care. Someone turning 65 this year has an almost 70% chance of needing some type of long-term care, and about 13% of those will need it for five years or more. Long-term care is expensive and can […]

Thang Truong
Thang Truong

The 3 Best Traditional Long-Term Care Insurance Companies for 2023

Long term care is something that no one likes to think about, but unfortunately, many people will eventually need. Health care costs are skyrocketing, and a lengthy stay at a long-term care facility can easily bankrupt most people’s nest eggs. Long-term care insurance is one way to protect both yourself and your retirement savings. Out […]

Thang Truong
Thang Truong

The Best Long-Term Care Insurance Companies in California for 2023

California residents who are keen to protect themselves and their families against the worst events in life may be considering long-term care insurance. However, you might not know much about LTC insurance or how it is handled in California. Let’s take a look: What is Long-Term Care Insurance? Long-term care insurance helps pay for long-term […]

Thang Truong
Thang Truong

The Best Long-Term Care Insurance Companies in Arizona for 2023

Arizona is a great place to retire. It’s warm, there’s no snow to shovel, and Arizona improves the quality of life for anyone with allergies or asthma. When you pack your bags and retire to Arizona, you’re probably not thinking about long-term care. But the sad reality is that 47% of men and 58% of […]

Thang Truong
Thang Truong

The Best Long-Term Care Insurance Companies in Florida for 2023

There’s a lot of good reasons to retire in Florida. The weather is warm, the beaches are beautiful, and there are lots of other retirees to socialize with. Also, Florida has no state income taxes, no inheritance taxes, and no estate taxes. When you pack up your things and move to Florida, you’re probably not […]

Thang Truong
Thang Truong

Private Placement Life Insurance: Everything You Need to Know

If you haven’t heard of private placement life insurance, you probably don’t qualify to buy it. Private placement life insurance is typically for investors with millions in liquid cash that they need to invest for tax reasons.  What is Private Placement Life Insurance? Who Qualifies for Private Placement Life Insurance? Benefits of Private Placement Life […]

Thang Truong
Thang Truong

Nationwide IUL – A Strong Product With Great Features and Excellent Ratings

The Nationwide IUL product can help you either supplement your retirement income or ensure your beneficiaries future by leaving them a nice tax-free death benefit. Obviously, you have many options when it comes to IUL policies, so you want to know how does Nationwide’s policy stack up against the competition? Let’s take a look. Pros […]

Thang Truong
Thang Truong

Transamerica IUL – A Solid Product but High Consumer Complaint Score & Law Suits

Consumers looking to supplement their retirement income often settle on an indexed life insurance policy. These policies build cash value based on market performance and allow your heirs to enjoy a tax-free death benefit. Let’s take a look at Transamerica’s indexed universal life insurance policy and see what makes it stand apart from other such […]

Thang Truong
Thang Truong