Online Life Insurance Companies

Lemonade life insurance review

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Best for: People looking for insurance bundles

Our take: Lemonade offers term life insurance, but it provides other types of insurance policies, too. From renters and home to auto and pet insurance — making it easy to get all of your coverage from one place and minimizing all the work it takes to get a policy. The company also offers discounts for buying more than one policy.

Lemonade offers customers a lot of flexibility. But in addition to providing a range of insurance products and discounts, Lemonade is also a certified B corp (a certification given to socially responsible companies), meaning the insurer is working to protect more than just your finances.

Pros:

  • Offers other types of insurance policies
  • Easy-to-use mobile app

Cons:

  • Can’t get a life insurance quote without going through the application process
  • Not available to applicants over 60 ½
  • Only offered in 27 states
  • No publicly available rate data

More details about Lemonade life insurance

Policies offered:

  • Life products offered: Term life

Rates:

  • Policies start at $9 a month.

Insurance partners:

  • Lemonade’s instant life insurance is offered through Bestow.

Other details:

  • Ages and coverage limits: Lemonade offers coverage from $50,000 up to $1.5 million for term lengths between 10 and 30 years. U.S. citizens, permanent residents and active visa holders are eligible.
  • Waiting Period: There is no waiting period. Once you pay your first premium, the policy becomes active immediately.
  • Medical requirements: The company offers life insurance without a medical exam, although you will be required to answer a few questions about your personal history when applying for a policy. Additionally, if you’ve been diagnosed with COVID-19 in the last 30 days, this will be taken into account.
  • Application time: The application takes about 5 to 10 minutes and you get an instant decision.


Additional product line details: Lemonade only offers one type of life insurance policy — no-med term life insurance. However, it doesn’t just offer life insurance. It also provides home, auto, renters and pet insurance for applicants with multiple financial responsibilities and obligations.

Company background: Lemonade was founded by Shai Wininger and Daniel Schreiber in 2015. Lemonade prides itself on its technology, which enables claims approval in three seconds.

Interesting tidbit: Lemonade is a B Corp and Public Benefit Corporation. Through a Giveback program, unclaimed money is donated to nonprofits chosen by its policyholders.

States where Lemonade is available

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States where Lemonade is available
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
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About Lemonade

  • Company address: 5 Crosby St., 3rd floor, New York, NY 10013
  • Company website: https://www.lemonade.com/
  • Company email: help@lemonade.com
  • Company phone: 844-733-8666

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