Our take: Lemonade offers term life insurance, but it provides other types of insurance policies, too. From renters and home to auto and pet insurance — making it easy to get all of your coverage from one place and minimizing all the work it takes to get a policy. The company also offers discounts for buying more than one policy.
Lemonade offers customers a lot of flexibility. But in addition to providing a range of insurance products and discounts, Lemonade is also a certified B corp (a certification given to socially responsible companies), meaning the insurer is working to protect more than just your finances.
Pros:
- Offers other types of insurance policies
- Easy-to-use mobile app
Cons:
- Can’t get a life insurance quote without going through the application process
- Not available to applicants over 60 ½
- Only offered in 27 states
- No publicly available rate data
More details about Lemonade life insurance
Policies offered:
- Life products offered: Term life
Rates:
- Policies start at $9 a month.
Insurance partners:
- Lemonade’s instant life insurance is offered through Bestow.
Additional product line details: Lemonade only offers one type of life insurance policy — no-med term life insurance. However, it doesn’t just offer life insurance. It also provides home, auto, renters and pet insurance for applicants with multiple financial responsibilities and obligations.
Company background: Lemonade was founded by Shai Wininger and Daniel Schreiber in 2015. Lemonade prides itself on its technology, which enables claims approval in three seconds.
Interesting tidbit: Lemonade is a B Corp and Public Benefit Corporation. Through a Giveback program, unclaimed money is donated to nonprofits chosen by its policyholders.