Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Mar 25, 2021

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The Truth in a Nutshell

  • GEICO is one of the best insurance providers in the United States
  • There are four life insurance types through GEICO
  • GEICO is known for its cheap insurance rates
  • GEICO has an A++ for life insurance

GEICO is one of the leading car insurance companies in the United States. However, did you know you can get life insurance at GEICO?

Life insurance may be available at GEICO, but it doesn’t exclusively sell life insurance. So how do you buy GEICO life insurance? And why is insurance so expensive?

Our GEICO life insurance guide explores everything you need to know to secure affordable GEICO life insurance quotes, what life insurance policies are available, and the company’s third-party ratings.

You don’t have to go through GEICO life insurance. Use our free online quote tool above to compare the best companies in your area today.

What are GEICO’s life insurance plans?

GEICO has ten companies that underwrite life insurance. Therefore, your life insurance options are more prominent than most small companies.

Here’s a list of GEICO life insurance policies you choose:

  • Term Life Insurance
  • Whole Life Insurance
  • Universal Life Insurance
  • Guaranteed Acceptance

GEICO doesn’t break down term life insurance because the company that may underwrite your policy will have different term limits and death benefits.

All life insurance quotes will go through a web portal known as LifeQuotes. It will measure terms from five to 30 years. LifeQuotes can sort through permanent life insurance options like universal and whole life insurance in addition to term life options.

Are riders available?

Again, GEICO won’t exclusively provide life insurance or riders, but the underwriting life insurance company may have a few life insurance riders you can add to your policy.

What is a rider? A rider is a perk or endorsement that adds extra benefits to your life insurance policy.

For example, a return of premium rider on a term life policy refunds you all the money you spent on monthly premiums during your term life policy period.

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How much are GEICO life insurance rates?

Since GEICO works with a few life insurance providers, it’s challenging to pinpoint life insurance rates.

However, we’ve pulled a few details from LifeQuotes and came up with some life insurance rates based on a healthy 30-year-old woman who has a $250,000 death benefit on a term life insurance policy.

GEICO Life Insurance Rates through LifeQuotes and other Underwriters
Term Life PeriodProtective Life Monthly RatesSagicor Life Monthly RatesTransamerica Monthly Rates
10-Year Term $9$9$8
20-Year Term$11$11$11
30-Year Term$15N/A$15
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The key to cheap term life insurance is a shorter term, a younger age, and excellent health. If your death benefits are lower, you can save even more.

However, less coverage isn’t always better. It’s true; life insurance can be an investment. Consider your budget and see if you can get a reliable death benefit.

Is GEICO a good insurance company?

The short answer is yes. GEICO is one of the best insurance companies in the United States.

Although GEICO Life Insurance Company isn’t as strong as the top life insurance competitors, its partnership with other companies makes it a significant factor in the life insurance industry.

Continue reading the subsections below to get more details on GEICO’s overall financial strength, customer reviews, and pros & cons.

Financial Strength and Customer Satisfaction

The most reliable financial strength and credit ratings come from the top rating agencies in the world. One of those agencies is known as A.M. Best. Meanwhile, agencies like J.D. Power are great resources to see the overall customer satisfaction scores.

Where does GEICO life insurance stand in all of this? Let’s look at a list of GEICO’s financial strengths, credit ratings, and customer reviews.

  • AM Best – A++ (superior and stable financial outlook)
  • S&P – AA+ (low credit risk)
  • JD Power Overall Customer Satisfaction Score – N/A
  • NAIC Complaint Index – 1.38

The A.M. Best and S&P scores are good indicators that GEICO manages money very well.

However, GEICO doesn’t appear in J.D. Power’s life insurance study, but the companies that underwrite for GEICO are in the study.

What are the advantages and disadvantages of GEICO life insurance?

GEICO may be one of the nation’s best insurance providers, but it does have a few disadvantages. Let’s explore the pros and cons to get a realistic idea about life insurance at GEICO.

GEICO Life Insurance Pros & Cons
GEICO Life Insurance ProsGEICO Life Insurance Cons
Variety of death benefit amountsDoesn't sell life insurance exclusively
No medical exams required for some life insurance policiesCustomer service isn't consistent
Guaranteed Acceptance Life Insurance is availableThe underwriting company isn't listed on your quote
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Did we miss something? You may have found some pros and cons as you were reading.

How do you cancel GEICO life insurance?

You won’t be able to go through GEICO to cancel your life insurance policy. Why? Since GEICO is a third-party insurer, it won’t have your life insurance policy information. But, the company that underwrites your life insurance policy does.

To cancel your life insurance policy, you’ll need to call the underwriting company’s customer service number to cancel your policy.

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What does GEICO mean?

GEICO is an acronym for Government Employees Insurance Company. Despite the name, GEICO is available to people 18 years and older.

GEICO’s parent company is known as Berkshire Hathaway, and it’s headquartered in Chevy Chase, Maryland. However, GEICO was initially founded in Fort Worth, Texas, in 1936.

GEICO Life Insurance: What’s the bottom line?

GEICO life insurance services can lead you to term life and permanent life insurance policies, but it won’t explicitly sell life insurance to its policyholders.

You won’t be able to call a GEICO insurance telephone number to cancel your policy since GEICO doesn’t provide exclusive life insurance policies.

Why go through GEICO life insurance and LifeQuotes? Our free comparison tool can locate affordable life insurance near you.