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eFinancial Review

Reviews 1,014
eFinancial
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eFinancial
eFinancial
Excellent
Reviews 1,014
Sean Lapointe
Apr. 25, 2024
3 min read
LaPointe
eFinancial Summary
eFinancial is a life insurance comparison platform founded in 2001. It offers an easy-to-use service that helps you quickly find the best policy for your needs. Coverage options include term, permanent, and final expense life insurance, and you can get a quote in seconds. In some cases, you can apply for and get coverage on the same day. Plus, agents are present at every stage of your application to offer personalized guidance and support.

Pros

  • Fast and easy quote process
  • Large network of top-rated providers

Cons

  • Doesn’t underwrite its own policies
  • No live chat support

eFinancial at a glance

8.4
Editorial score

Coverage type

Offers both term and whole life insurance, often with no medical exams required.
10.0

Customization of policies

Customizable rates and deductibles, upgrades and downgrades available, decide whether to buy with an agent or buy online
10.0

Customer services and support

Multiple communication options, ability to speak to an agent
8.0

Online experience

Site is easy to use, but doesn't display all relevant information
8.0

Direct insurer?

Marketplace with direct purchase available in site
6.0

eFinancial eFinancial Visit Site

Who Can Benefit From eFinancial?

eFinancial is ideal for people seeking a fast, streamlined process for comparing and buying life insurance policies. The platform generates competitive quotes from a wide variety of top-rated providers in seconds. 

eFinancial could also be suitable if you require guidance navigating the sometimes complex world of life insurance. You’ll get access to expert agents who can help you understand your options and customize a plan based on your requirements. 

Features

eFinancial operates as an insurance marketplace, meaning it doesn’t underwrite its policies. Rather, it allows you to compare quotes from multiple carriers to help you secure affordable rates and sufficient coverage. Here are some of the platform’s highlights:

  • Access to affordable policies from more than 20 trusted providers, including Fidelity Life Association, Prudential, Mutual of Omaha, Protective, and AIG

  • Free quotes online or through a phone call

  • Expert agents to assist with quote comparison, plan customization, and application

  • Choice of three policies, including term life, permanent life, and final expense

Application Process

The application process with eFinancial is designed to be as smooth and straightforward as possible. It starts with obtaining quotes through its online platform or speaking with one of its expert insurance agents on the phone. You'll need to provide personal details like your gender, date of birth, and how you'd rate your health.

The next step is to select a policy that aligns with your requirements and budget. An agent can also help you customize a plan around your specific needs from the available options if needed.

Once you've selected a policy, you can apply for it by answering a few health and lifestyle questions and, in some cases, taking a medical exam. Again, eFinancial will help you navigate this step, including arranging for a medical testing company to visit you at your home or office at no cost.

The timeline for approval varies depending on the insurer and the type of policy. For policies that don’t require a medical exam, the carrier can approve and provide your coverage on the same day you apply. For some applicants, the approval can take longer — sometimes four to eight weeks. However, eFinancial will keep you updated throughout the process.

Policy Types and Terms

Term Life

This type of policy offers coverage for a specified period, typically 10 to 30 years. If you pass away during this timeframe, your designated beneficiary gets a tax-free cash payout. However, the coverage stops if the term expires while you're still alive or if you stop paying your premiums for any reason.

  • Term lengths of 10, 15, 20, and 30 years

  • Includes an option to waive medical exam

Final Expense

This type of policy assists with end-of-life expenses, such as funeral costs. It can also help cover costs like medical bills, credit card debt, or even housing payments for your surviving spouse.

Final expense insurance benefits people who may not qualify for standard life insurance policies due to advanced age or health issues, including terminal illnesses. 

  • Medical exam is not required

  • Coverage ranges between $5,000 and $40,000

How Safe Is It?

On Trustpilot, eFinancial boasts an impressive rating of 4.7 out of five stars, reflecting high customer satisfaction. It’s also accredited by the Better Business Bureau and holds an A+ score, the highest rating available on the platform.

eFinancial’s platform is trusted by some of the leading insurance carriers in the country to market and sell their products, which adds another layer of reassurance. 

eFinancial employs industry-standard security measures to ensure the safety of clients' data. These measures include the use of Secure Sockets Layer (SSL) encryption, which prevents hackers and other malicious third parties from reading or intercepting any information transferred between you and the company over the internet.

Finally, the company has a detailed privacy policy on its website that explicitly outlines how it collects, uses, and shares your data.

Help and Support

eFinancial offers customer support by phone at 866-977-4012. You can also contact the company through a form on its website for non-urgent issues. A customer support agent will respond.

The company's website also hosts valuable learning resources to help you understand more about the platform, its services, and the broader life insurance landscape. These resources include FAQs, an insurance glossary, a coverage amount calculator, how-to guides, and insightful blog articles.

Bottom Line

Overall, eFinancial is a reputable platform that anyone planning to buy life insurance should consider using. It makes it easy to shop and apply for different products online from top-rated providers. You can get an instant free quote any time of the day by providing a few personal details.

Additionally, knowledgeable agents are on hand to help you explore your options. They’ll provide personalized support through each stage of the application process. Depending on the type of policy and carrier, you can even receive approval plus coverage on the same day you apply.

Physical Address

1203 114th Ave SE

Bellevue, WA 98004

eFinancial eFinancial Visit Site

LaPointe
Written by
Sean Lapointe
Sean LaPointe is a freelance personal finance writer with a passion for helping readers make informed financial decisions. With over 8 years of personal finance writing experience, Sean has written for a wide variety of top publications, including The Motley Fool, Angi, Top10.com, and BestMoney. Sean’s commitment to providing readers with the most up-to-date information means he’s always researching the latest financial products.
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Excellent • Reviews 1,014
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1%
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