GEICO Life Insurance Review

Thanks to clever advertising campaigns and an adorable gecko, everyone loves GEICO. Even I must agree that they are an industry leader. I will also say that GEICO lives up to their claims, at least when it comes to car insurance. Unfortunately, the same cannot be said about term-life insurance from GEICO. We have many more company reviews for you to look over to benefit you while making your life insurance purchase decision, such as AICPA Insurance and Mutual of Omaha to name a few.

GEICO Doesn’t Really Have Life Insurance Products?

GEICO is not the life insurance provider that they pretend to be on their website. In fact, the term-life insurance quotes that you get from GEICO are actually done through their partnership with Life Quotes Inc.

Life Quotes Inc is basically a life insurance broker. When you call them you will be speaking with a call center, and not getting the personalized attention you would from an independent life insurance agency, like

When you request an online rate quote on GEICO’s website, it will mention that you are about to be taken to the Life Quotes Inc. website, which is not owned or operated by GEICO. It also specifies that GEICO assumes no responsibility for Life Quotes Inc.’s practices and that the coverage you will receive is not provided by an insurance company that is affiliated with GEICO. All of this crucial information is covered in a disclosure statement at the bottom of the webpage.

Be Suspicious of This Type of Activity.

Life Quotes Inc. has partnered with GEICO, so they can use their good name and marketing genius to lure customers into requesting a quote from their website. GEICO has a reputation for being the best deal available on car insurance, so people assume the term-life insurance rates they are given from GEICO are also the best deal available.

Unfortunately, The Rates Are Not from GEICO!

This type of misleading marketing strategy should make you apprehensive, to say the least, especially since GEICO makes a point of disassociating themselves with Life Quotes Inc. in their disclosure statement. They don’t feel comfortable enough connecting their reputation to Life Quotes Inc. and I’m sure they spent time researching that decision. That is a really bad sign.

The Rates Are Not As Good As GEICO Claims

Another reason that you shouldn’t insure your life with GEICO is their high rates for anyone that doesn’t have perfect health. Only about ten-percent of the American population will qualify for their Preferred Plus rates, which are the rates that they advertise all over the site. The other 90% are almost guaranteed to get a lower quote through an independent insurance broker who knows how to match you with the right life insurance company.

Don’t Rely on Just One Quote.

Everyone should request multiple term-life quotes from multiple carriers before making a commitment, especially if they have any health concerns. You can trust the brand that GEICO built with car insurance, but you definitely shouldn’t trust them with your life. Term-life insurance is meant to give you peace of mind and you won’t get that from a company that pretends to be something they are not. Comparison shopping is the only way to get the financial security for your family that they deserve, at a cost you can afford.