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Lemonade Life

Lemonade Life
AUTHORIZED PARTNER

Lemonade Life

 4.9/5 (41 ratings)
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  • 1 stars
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Lemonade Life

About Lemonade Life

Lemonade offers life, homeowners, renters and pet insurance with a process powered by artificial intelligence. It offers a quick application process for term life insurance that eliminates the need for medical exams and long wait times. The company offers up to $1.5 million in coverage for 10-, 15-, 20-, 25- and 30-year term life insurance policies. Policy prices are based on coverage amount, term, location, lifestyle and health factors and are locked for the entire length of the term. Lemonade is available in every state except New York, and its prices start at $9 per month.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
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  • 2 stars
  • 1 stars

Pros

  • Locked policy rates
  • 100% digital
  • No medical exam

Cons

  • Must be under 60 to apply
  • Not available in New York

Bottom Line

Lemonade offers a fully digital life insurance process that doesn’t require an in-person medical exam. The company offers 10-, 15-, 20-, 25- and 30-year term life policies with rates starting as low as $9 a month, if approved.

What is Lemonade Life?

Lemonade Life is a fully regulated agency that offers term life insurance through North American Company for Life and Health Insurance®. It offers seamless term life policies that help protect your loved ones financially if you pass during your policy’s term. The company offers up to $1.5 million in coverage for 10-, 15-, 20-, 25- and 30-year term options.

How does Lemonade Life work?

Applying for term life insurance at Lemonade is quick and fully digital. Lemonade offers a 100% online process through its website and mobile app, with no need for in-person visits or medical exams. Those between the ages of 18 and 60 can apply by going to Lemonade’s website and chatting with a bot regarding their health, lifestyle and demographic information to get a price estimate.

People with histories of cancer, heart disease or life-threatening conditions may be ineligible for life policies. If approved, Lemonade will help you properly list your beneficiaries, and provide you with all of the information you’d need if something bad were to happen to you.

Lemonade offers 10-, 15-, 20-, 25- and 30-year term policies with locked rates, which means premium prices won’t change for the policyholder over the course of the policy term length. It helps cover you and your loved ones in the event that you pass for up to $1.5 million. You can cancel at any time and receive a full refund within 30 days of purchase. You can pay your premiums through a credit or debit card, and Lemonade charges the first month’s premium when your policy is finalized. Charges are automatically issued on a monthly basis.

Lemonade Life rates

Lemonade offers policies that can start as low as $9 a month. Individuals must be between 18 and 60 years of age to apply, and premiums are based on age, location, coverage amount, term policy and health and lifestyle factors. Factors that increase premiums can include whether you smoke or use drugs, your level of recreational and travel activity and family history of disease.

Go get a quick estimate, apply through Lemonade’s bot, Maya, who can answer your questions in about five minutes.

Lemonade Life FAQ

Is Lemonade Life good?
Yes. Lemonade offers a seamless term life insurance experience with a quick application process that eliminates the need for medical exams. Lemonade offers policies with up to $1.5 million in coverage, and prices start at $9 a month. Lemonade is also a public benefit corporation that expresses a commitment to the world and environment.
What kind of products does Lemonade Life offer?
Lemonade offers 10- , 15-, 20-, 25- and 30-year term life insurance policies with coverage up to $1.5 million for people between ages 18 and 60, and prices start at $9 a month if approved.
Will my Lemonade rates change over time?
No, your rates will be locked in over the course of the policy term once they’re approved.
What qualifications does Lemonade require?
Because policies offered by Lemonade do not require a medical exam, applicants are required to answer a series of questions about their medical history. People who potentially qualify for coverage offered by Lemonade tend to be in generally good health and don’t engage in high-risk activities, including drug and alcohol abuse or participating in dangerous sports.

Is Lemonade Life worth it?

Lemonade offers a quick application process and rates as low as $9 a month, which is an attractive option if you want to help guarantee your loved ones receive a lump sum of tax-free money (anywhere between $50,000 to $1.5 million) if you pass away during the policy term. The company is also a public benefit corporation, which makes an attractive option for those who prefer to work with civic-minded companies. If you’re looking for life insurance and prefer a digital experience, Lemonade is worth checking out.

Lemonade Life Reviews

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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 2, 2021

Really easy to get started getting a policy through Lemonade. Such a better alternative/experience than having to deal with the overly salesman culture of life insurance. Looking forward to see if there are incentives to bundle auto, rental, etc. with Lemonade. I still have State Farm for rental, and auto; but would consider switching if Lemonade created an easy way to switch. I'm a millennial and I like to see all the insurance options available and choosing which one, as an alternative to an agent trying to sell me on a policy.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 24, 2021

    I had been exploring various traditional and fintech companies for a good term life insurance. I stumbled upon Lemonade through social media and was very impressed by the easy to follow and easy to complete application process. I was able to review my options and complete the whole application within 15 minutes. Highly recommend this to anyone looking for insurance. I was also interested in applying for home insurance, but unfortunately that was not available in our area. Will definitely keep an eye on that.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 17, 2021

    My experience buying life insurance via Lemonade was fantastic and easy. Originally, I received a quote from Guardian and they wanted a doctor letter, blah, blah, blah. Lemonade took my word for it. I had life insurance in less than 20 minutes of my time using Lemonade. That is why I highly recommend Lemonade over any other life insurance provider. Customer service comes first.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 10, 2021

    I’ve purchased term life insurance before with a traditional broker and they kept trying to upsell me. When I was expecting my next child I knew I needed to up my coverage and thought I would go with Lemonade. It was an easy process and it felt nice to purchase an amount that my family needed without someone trying to sell fear. Hopefully I never experience the payout side of life insurance with Lemonade. But if it’s anything like the sign up process I know my family will be okay.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 9, 2021

    I obtained a $500k 30 year term policy without an exam in a matter of minutes. My needs were time sensitive, and I had been denied immediate coverage or found costs prohibitive from three other companies that day alone. My policy is backed by a long standing and reputable provider that I trust. Thanks to Lemonade my family is protected in the worst of times. Thank you!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 13, 2022

    This was so easy and convenient to get life insurance. I loved the process and the company seems very trustworthy. I am waiting for them to start offering car and home insurance in my area. I would love to switch to them for ease, convenience and better rates.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 27, 2021

    Excellent experience. I started down the path to get insurance several times but never pushed thru because of the hassle factor. With Lemonade, I went from needing a policy to having a policy in 5 minutes. I totally recommend lemonade for your insurance needs.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 12, 2021

    So far I’ve had nothing but very good experience securing life insurance and before that renters insurance with very expedited results! I literally had prices quoted and a policy ready in my email box and app in less than 10 minutes. A very satisfied customer, J **.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 10, 2021

    Thank you Lemonade for an affordable life insurance policy. You guys made the process really simple and seamless. I couldn’t have asked for anything better and I will definitely be recommending this to others. If anyone is interested in getting insurance and sees this review just go ahead and do it.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 30, 2021

    Awesome rates and VERY EASY Application, Took hardly no time to fill out application submitted it and got back the results quickly. It is a relief to have coverage for my family when I die. Wow, why can't auto or homeowners be this simple? Thanks to all at Lemonade!!!!

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    Lemonade Life Company Information

    Company Name:
    Lemonade Life
    Website:
    www.lemonade.com