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GEICO Life Insurance Review 2020

Researcher & Writer
December 04, 2019

GEICO appears to be the premier auto insurance provider in the United States—at least that is the impression you get if you watch any ads during a major sporting event. It is easy to apply for and it can be done online or over the phone in a short time.

Now how does GEICO's auto insurance translate over into the realm of life insurance? Does GEICO offer the same great experience for client's looking to get life insurance as the company offers for auto insurance clients?

In fact, as you may have read in other GEICO life insurance reviews, GEICO doesn’t offer life insurance at all. Instead, GEICO insurance uses its incredibly successful marketing machine A.K.A., “Martin the Gecko” to generate leads for life insurance which it then shares with another company called Life Quotes.

So when you purchase life insurance from GEICO, you’re actually buying life insurance from a third-party vendor named Life Quotes.

Who is LifeQuotes?

What we were able to discover by doing some research on Life Quotes was that Life Quotes was founded in 1984 and over the past 30 years they have been able to achieve quite a bit of success having insured over 300,000 individuals!

In addition, it looks like they represent most, if not all, of the top life insurance carriers which means that Life Quotes should be able to place just about anyone who qualifies with a quality life insurance company.

Other things to consider

Why would the third largest auto insurance company, GEICO Insurance, choose to “outsource” its life insurance leads to 3rd party vendor?

After all, one would assume that GEICO Insurance Company has the agents, the call centers, and the customer service representatives needed to take on such a project.

So why wouldn’t GEICO just want to begin selling life insurance themselves?

Here are our thoughts on why GEICO outsources life insurance to Life Quotes

Selling life insurance is a lot different than selling auto insurance.  After all, it’s much easier to determine the value and condition of a car, motorcycle, or boat than it is to determine the value of a loved one.

It’s not so easy to give…

"a [life insurance] quote in 15 minutes or less,"

…when you suddenly have to consider how an individual insurance company is going to discriminate against someone with certain high risk conditions such as:

Or how about something a bit more complex, such as:

Or what about trying to explain the nuances in the different types of coverage, including

See, the thing is, when it comes to selling life insurance, quoting someone accurately and knowing which insurance company, and the right policy, one should apply with, and for, can become really, really complicated. 

Add in more difficult cases such as using life insurance for estate planning, funding an irrevocable life insurance trust, or putting together a policy for a buy sell agreement or key man insurance, and you start to get the idea why you might want to look elsewhere when it comes to getting protected.

Which is why that whole 15 minutes or less nonsense just isn’t going to fly when it comes to selling life insurance!

So, it’s probably a good idea that GEICO decided to outsource the Company's life insurance leads.

What's next?

If you're looking for a great insurance company that actually sells life insurance, check out the best life insurance companies. Or, if you don't know what kind of life insurance you need yet, brush up on what's out there by reading our article on types of life insurance.

Or, when you're ready, get an instant life insurance quote with this easy tool.

Written by
We are a team of life insurance experts with the simple mission of helping you find the best coverage for your unique situation. We research, review, and rank life insurance companies to make that process easier.