Fabric Launches in New York to Make Life Insurance Easy for Nation's Busiest Parents
New York parents can now go from start-to-covered in two minutes. Plans start at $6/mo for $100,000 in coverage.
NEW YORK, May 23, 2017 /PRNewswire/ -- New York parents are among the world's busiest. It's no surprise that many put off buying life insurance – it can be intimidating, slow, and complicated.
Fabric changes all of that with its launch in New York. There are no pushy agents or meetings, and no impenetrable legalese. Now you can go from start-to-covered in two minutes on your phone, tablet, or desktop.
Since March, Brooklyn-based Fabric has been using its proprietary technology and design to make buying life insurance easy and affordable for parents across the United States. With its launch in New York, Fabric is now available in 38 states plus the District of Columbia.
How Fabric Works
Get started with Fabric Instant which covers you in two minutes for accidental death, your life's single greatest risk when you're 25-44 [1]. Plans start at $6 per month for $100,000 in coverage. You can upgrade coverage later to include death from accidents and illnesses by replacing Fabric Instant with Fabric Premium, a 20-year term life insurance policy offering up to $5,000,000 in coverage.
This means that when busy parents want coverage, they can quickly and affordably check life insurance off their list with Fabric. "We found that 93% of our customers purchased coverage within five minutes of their first visit, from start-to-covered," said Steven Surgnier, Fabric CTO and Co-Founder. Many parents buy Fabric Instant and then immediately move to upgrade their coverage by applying for Fabric Premium. Others choose to keep Fabric Instant for the long haul – you can keep Fabric Instant until age 60.
Beyond being simple and affordable, Fabric's policies are issued by Vantis Life, which was founded in 1942 and is rated "A" ("Excellent") for financial strength and claims-paying ability by A.M. Best. "We believe all families deserve a secure financial future," said Adam Erlebacher, Fabric Co-Founder and CEO. "Bringing Fabric to New York is an important step towards fulfilling that vision."
Residents of New York State can now go from start-to-covered in two minutes, with plans starting at $6/mo for $100,000 in coverage. See prices at https://www.meetfabric.com.
[1] CDC: National Vital Statistics Report, Volume 64, Number 2. (February 16, 2016), Table 9.
About Fabric
Fabric believes that every family deserves a secure financial future. Together with a group of world-class investors led by Bessemer Venture Partners and an ever-growing team of data, technology, and insurance professionals, Fabric is committed to bringing life insurance into the modern age with an experience that is fast, affordable, and easy to navigate.
Stay in touch at https://www.meetfabric.com or http://www.facebook.com/meetfabric.
How Fabric Works [video]: https://vimeo.com/208553354
Press kit: https://www.meetfabric.com/press
SOURCE Fabric
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