Introducing Feather life insurance!
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Introducing Feather life insurance!

Summary: We’re rolling out our newest plan: Life insurance. In this article, we’ll talk about what life insurance is, what’s covered and how to file a claim. 

Life insurance is a policy that pays out a fixed sum (of your choosing) if you pass away. Coverage is generally used by dependents and loved ones to pay for the cost of living until they regain financial stability, and includes a spouse, child, or even a business partner. 

Many people also decide to get life insurance when buying a house and paying off their mortgage, even if their partner contributes to the payments. With our life insurance plan, you can adjust your coverage amount as you pay off your mortgage or you have more savings.

What are the advantages of life insurance with Feather?
  1. No appointments necessary
    • Coverage up to 400k without a doctor’s appointment.
  1. Adjustable coverage
    • You can adjust your coverage each year to adjust for your situation.
  1. English sign-up & lifetime support
    • We’ll handle all the German paperwork, so you don’t have to.
You should consider life insurance if
  1. You have financial dependents like a spouse, a child, or even a business partner. 
  2. You have a mortgage to pay off together with a partner
  3. You want your dependents to be financially looked after if anything should happen to you
What does life insurance cover?

Debt and Mortgage

Don’t let your financial obligations get passed on to your family.

Lost Income

Are you the primary source of income for your family? Life insurance can provide for them when you’re gone, so they can get back on their feet.

Childcare and Education

Education, childcare, and security. Life insurance can help ensure a future for your loved ones when you’re no longer with them.

Final Expenses

No one wants to plan a funeral and the costs can get pretty expensive. Let insurance cover it while your family mourn.

Frequently asked questions
Am I eligible?

Yes, as long as you’re currently living within the EU.

Do I need a medical check-up to apply?

No, because our plans go up to €400,000 in coverage, there is no legal requirement for a medical check-up. We will, however, ask you questions about your health.

Who needs term life insurance?

– Anyone that is responsible not just for themselves, but responsible for others as well. This can be a partner, a child, a business partner, or anyone who is financially dependent on you.
– If you have a mortgage, it also makes sense to get a plan for the primary earner. If you both contribute equally to a mortgage, it makes sense to get life insurance for both people.
– If you run a business with someone, you should consider life insurance. Your business partner could be listed as a dependent.

What happens if Feather goes out of business?

– Our plans are all secured by large risk carriers, so if something does happen, you’re still covered. We are proud to say that we are a successful business that was founded in 2018 and growing quickly. Still, we understand your concern when it comes to something as important as life insurance.

Is life insurance worth it?

If you have dependents or people who would need financial support in case you passed, it’s worth getting life insurance to protect them.

How expensive is it?

– Life insurance can range in cost depending on a few factors, but for your family, it’s worth the sense of security.
– For a young family, it would be much less expensive than if you’re older. Still, even in this situation, it’s unlikely that you’d need the same amount of coverage as the younger family as you have savings to fall back on.

How much coverage should I get?

We’ve created a simple guide to figuring out how much coverage you would need:

– In general, we recommend around €10k per child per year until they are 18 (or 23 if you want to finance their university).
– Additionally, if you have a mortgage, you should add the total cost of the mortgage to your coverage. As you pay off your mortgage, you can adjust your life insurance coverage.
– If your partner is reliant on you financially, then 3-5 years of expenses are recommended. This is about how long it would take them to become financially independent.
– If that’s too complicated, you can take 3-5x your gross yearly salary, which should be a good approximation.

What costs are covered?

Since you can choose how much coverage you get, it means you’ll already know how much the payout sum will be. Look at the question above if you’re having any problems deciding on how much coverage you should get.

How many years should I get the coverage?

We recommend getting the coverage until your mortgage is paid off or your youngest child has completed school or university — whichever comes later.

Can I adjust my coverage?

Yes. You can adjust your coverage sum up or down at the end of each year. So, if you have paid off your mortgage but still have children you want to cover, you can adjust your life insurance accordingly. You can also cancel the policy at any time with no additional fees.

When does the policy payout?

The policy pays out when the insured person dies.

Is there a possibility for cross insurance, i.e., one person buying the insurance but another being insured?

The policyholder has to be the insured person in the first version because this is a verification issue. Cross-insurance can be achieved after purchasing separate policies by filling some paperwork.

How do I cancel my plan?

Log into your Feather account and hit “cancel” for your life insurance plan. Our motto is honest and simple, so we don’t hide the cancellation button.

When is my policy active?

As soon as you sign up and the payment has been processed, your plan is active.

Are there waiting periods?

While your life insurance plan is active right away, there is still a waiting period for deaths caused by suicide.

Interested?

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