Geico Life Insurance Review: The Pros and Cons

Shawn Plummer

CEO, The Annuity Expert

Compare Geico Life Insurance Quotes

Use our calculator to compare Geico’s life insurance rates with life insurance quotes from other insurance companies.

Geico Life Insurance Pros

  • Geico is a well-known and trusted company. This trust can give you peace of mind knowing that your car insurance policy is in good hands.
  • Their current financial ratings are A++ with A.M. Best, but you won’t buy a policy from them, so this doesn’t matter.
  • They offer fantastic car insurance and a cute little lizard.
  • Geico has competitive rates for automobile insurance.

Geico Life Insurance Cons

  • Even though they have support 24 hours a day, 7 days a week, Geico does not have the best customer service. This lack of a personal touch can be a problem if you need to file a claim or have any other issues with your policy, especially when they want you to “ring us by phone.”
  • Support is rated below average by online customer surveys
  • Geico does not underwrite life plans. Instead, they give your info to Ladder Insurance Services LLC which is not owned by Geico Insurance and only offers term life insurance.
  • If you call them, they will not be able to help determine how much life insurance coverage you need, compare multiple quotes with other insurance companies, etc.
  • Ladder’s term life insurance policies are much more expensive than major insurance companies.
  • Geico Insurance Agency LLC assumes no responsibility for what policy you buy.
  • Ladder insurance doesn’t offer whole life, universal life, variable life, or burial insurance (final expenses). They are an affiliate publisher with no experience.
  • Applicants with a poor health history who need life insurance could get declined for coverage, preventing them from applying for at least two years.
  • There’s zero opportunity for cash value accumulation.
  • They are not available in all states, so you may not be able to get coverage from them, depending on where you live.
  • Geico Insurance doesn’t offer life insurance. Instead, they use a completely different company as an affiliate marketer.
  • Options are minimal.
  • They had a lot of advertising costs which are passed down to the consumer in the form of higher rates.
Geico Life Insurance Review

Buying Guide

Shopping and comparing quotes from multiple companies is the first step in purchasing a life policy. The process is very similar to shopping for auto insurance. The best rates are the policies with the cheapest rates since life insurance is primarily for death benefit planning.

We are a licensed independent life insurance agency, and I recommend purchasing insurance with a company that maintains an A.M. Best rating of “A-” or above. Our life insurance quoting tool will generate an unbiased comparison so applicants can purchase the best coverage at the lowest cost.

If you are unhealthy, you will need to apply for a policy that requires a medical exam.

Geico Life Insurance

Next Steps

Overall, Geico is a good automobile insurance provider. They are a well-known and trusted provider with competitive rates. However, they have some drawbacks, such as not being a life insurance provider, not being available in all states, letting customers apply blindly, and poor customer service. You will need to decide if these drawbacks are worth it or if you prefer to look elsewhere for coverage. Speak to a licensed life insurance agent, compare quotes, and apply for the best type of insurance appropriate for your scenario.

Need Help Getting Coverage?

Contact us if you need help purchasing a life insurance policy. The service is free of charge.

Life Insurance Inquiry

Frequently Asked Questions

Does Geico life insurance require an exam?

Yes, Geico life insurance does require an exam. You’ll need to complete a medical exam as part of the application process. The exam is used to help assess your risk level and determine your premium rate.

Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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