- 100% digital application
- Policies start at $9 per month
- No medical exam needed
- No whole life insurance policies
- Must be under 60 years old to potentially qualify
Offers either term or whole life insurance. Term life can be be for up to 30 years.
Customization of policies
Customizable rates and deductibles, upgrades and downgrades available, decide whether to buy with an agent or buy online
Customer services and support
Multiple communication options and a dedicated agent
Online fast application, learning resources, access to rates before application
Yes, direct insurer
Who Can Benefit From Lemonade?
Lemonade is suitable for anyone looking for a term life insurance policy with coverage up to $1.5 million. This offering is suited for individuals who don’t want to go through an in-person medical exam and are comfortable answering questions about their health and lifestyle online. Lemonade offers policies starting at just $9 per month, so it’s also a suitable choice for anyone looking for affordable life insurance.
Lemonade’s term life offering has term lengths of 10, 15, 20, 25, and 30 years and coverage up to $1.5 million. Policies are completely customizable, so you can choose your coverage amount and term that fits your budget. Lemonade’s application process is entirely online and can be completed in about 15 minutes. There is no physical health exam required to apply.
- Term life insurance with term options between 10-30 years
- Anyone between 18 and 60 can apply
- Online application only takes 15 minutes
- Policies starting at $9 per month
- Free refund if you cancel within 30 days
The process of applying for a term life insurance policy through Lemonade is fully online. You’ll need to answer questions about your health history and lifestyle, as well as your age, employment status, and income. The questions are detailed, but most have yes or no answers or allow you to choose from a list of options. You have the option to choose your policy term and coverage, and if your application is accepted, Lemonade will provide a quote. Once you’ve settled on a policy, you can pay online, and your policy will take effect right away.
Policy Types and Terms
Lemonade offers term life insurance policies only—not whole life insurance policies. Terms of 10, 15, 20, 25, or 30 years are available, and coverage amounts range from $50,000 to $1.5 million. All policies issued by Lemonade are underwritten by the North American Company for Life and Health Insurance.
Policies start at $9 per month. We had one user test the experience, and after completing the Lemonade Life application, the self-described healthy 30 year-old female/male living in Washington was offered a premium of $22.46 per month for a 20-year policy term and coverage of $250,000.
- Must be between 18 and 60 to apply
- Individuals with a history of heart disease or cancer may not qualify
How Safe Is It?
Lemonade uses SSL (Secure Socket Layer) encryption to protect your application and payment information.
Term life insurance policies are provided by the North American Company for Life and Health Insurance, which has been in business for 130 years.
Help & Support
Lemonade offers customer service through a form on its website. There is no phone or chat support at this time, but the Lemonade website does have an FAQ page where you can find more information about the application process and making a claim.
Lemonade offers term life insurance policies with up to $1.5 million in coverage and term options from 10-30 years. The application process is fully online, and there is no health examination required. Policies can be customized to meet your needs, and premiums start from as little as $9 per month. All term life insurance policies offered by Lemonade are provided by the North American Company for Life and Health Insurance.
Lemonade Insurance Company, 5 Crosby St. 3rd floor, New York, NY 10013
Terms and Conditions
Lemonade Life Insurance Agency is a sub-producer of Bestow Agency, LLC. Life insurance quotes provided by Bestow Agency, LLC dba Bestow Insurance Services in CA, who is the licensed agent. Term Life Insurance Policies offered by Bestow are issued on policy form LS181 and LS182, or state version including all applicable endorsements and riders, by North American Company for Life and Health Insurance®, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply. Not available in New York. The application asks about your lifestyle and health to avoid requiring a medical exam.