About Jenny Life
Jenny Life, Inc. (“Jenny Life”) is an insurance producer, brokerage and MGA (Master General Agent). We are a licensed producer in all 50 states, as well as the District of Columbia (DC). Our domicile state is Washington (WAOIC license #965714).
We make certain statements in our marketing and we want it to be clear how and why we arrived at those statements.
A Quote is Not a Determination of Eligibility
Any term life insurance quotes provided by Jenny Life that you receive will not result in a determination of your eligibility for life insurance coverage. In order for an underwriting determination to be made you will need to apply. Please understand that factors such as your age, health history and even recent travel can all have an impact your your ability to purchase a life insurance policy. In addition, each life insurance carrier we partner with has their own set of application requirements. It is possible that one insurance carrier may not be able to underwrite you, but another carrier partner we work with could.
Quotes are Approximations
The pricing information we use in our marketing comes from average rate quotes taken from the rate cards published by our life insurance carrier partners. To the best of our ability, Jenny Life confirms the accuracy of insurance rates and attempts to keep the rates we quote up to date. However, prices can and do fluctuate frequency and it is possible that rate changes can occur. 100% accuracy can’t be guaranteed.
Pricing Quote vs. Actual Premium
All quotes provided by Jenny Life are for illustration purposes. Actual premiums and coverage will be based on age, gender, health history, certain underwriting criteria, state of residence, travel history and travel plans, current health, and tobacco/nicotine usage. Not all policies or insurance carrier partners are available in all states. In the event that there is any discrepancy between the information contained in the insurance rate quote provided by Jenny Life, and any insurance company illustration and/or policy, the policy shall govern.
Hyperlinks to Third-Party Websites
The term life insurance products Jenny Life markets (e.g. Term-10, Term-20, etc.) are subject to underwriting requirements. Suicide, misstatement and misrepresentation limitations may apply. Availability of premium rates and policy forms may be changed by each insurer without prior notice. Products are not available in all states, and availability of products varies by state. Our insurance carrier partners may choose at any time to alter the products they sell and in which states they sell them.
All companies quoted by Jenny Life are rated A-, A, A+ or A++ by the A. M. Best Company, an independent insurance industry analyst. For a detailed explanation, see A. M. Best Insurance Ratings.
Licenses and Insurance Policy Availability
Not all policies or life insurance companies are available in all states. Jenny Life is not a life insurance company, but is rather a master general agent and life insurance broker. Jenny Life is licensed to sell policies in all 50 U.S. states as well as the District of Columbia. Our agent license numbers are available by visiting our licensing page.
Jenny Life is appointed by and we exclusively sell policies issued by the following life insurance companies:
- Assurity Life Insurance Company (Founded in 1890)
- Banner Life (Founded in 1949)
- Centrian Life Insurance (Founded in 1907)
- TruStage - CMFG Life Insurance Company (Founded in 1935)
- William Penn Life Insurance Company of New York (Founded in 1963)
- SBLI - The Savings Bank Mutual Life Insurance Company of Massachusetts (Founded in 1907)
- Protective Life Insurance Company (Founded in 1907)
Certain Claims Made in Television, Radio and Digital Advertising
Jenny Life makes certain statements in our advertising and we substantiate those claims. Specifically:
- Jenny Life makes certain claims about providing quotes in seconds. We estimate that we provide a life insurance quote in 11-17 seconds. That is the average time experienced in our extensive testing. You can visit https://app.jennylife.com and try this for yourself. It is a very quick process. But, the amount it takes you may be different.
- Jenny Life makes certain claims about getting a policy in minutes. The traditional, fully underwritten life insurance process typically takes 4-7 weeks to get a life insurance policy issued. Jenny Life has years of experience and specialization in providing "instant issue", "simplified issue” and “accelerated underwriting (AU)” life insurance products. These types of life insurance policies usually take much less time to purchase. We have helped many consumers purchase life insurance in under five minutes. As of June 15, 2020 our median time to underwriting determination is five days, though it is very common for us to get a determination back the same day, often minutes after the application is submitted. The longest it typically takes is twenty-one days. Jenny Life, working in conjunction with our carriers partners, creates a time stamp and date record of all applications started. We retain records of when the life insurance application was started. Our life insurance carrier partners time stamp and date the time of underwriting determination and at the time policy issuance occur. Our claim of helping a consumer "get a policy in minutes" is substantiated by the fact that most determinations will be made between 3 minutes and 30,240 minutes. By comparison, the conventional life insurance buying process would take between 43,200 minutes and 102,240 minutes. There are many factors that can determine your ability to get a policy faster or slower. Based on immediate screening of your initial application you may or may not qualify for accelerated underwriting, simplified issue or instant issue life insurance. If you do not qualify for a faster option, it will generally take longer for your policy to issue. Possibly many days or several weeks. Factors may include your age, your sex, your health history, and how much coverage you are applying for. Depending on the carrier you select, your application time may be longer. For example, if you select a carrier who has more stringent application requirements it will likely increase the period of time for your policy to be issued, but you may get a better price. Whereas, you may be able to select a carrier that will be able to issue you a policy much faster, but you may be required to pay a higher price. For example, most life insurance policies sold by Jenny Life that are able to issue in under 10 minutes cost more than policies sold by Jenny Life that take a longer time to issue because of the collection of additional information, but feature lower cost. In the life insurance business there is a correlation between cost and time based on the level of risk incurred by the life insurance company who is underwriting your policy. If they have more information, the price goes down. If they have less information, the cost goes up. Subsequently, the collecting more information is slower and collecting less information is faster. In addition, generally times for policy issuance have been temporarily, conditionally and even case-by-case taking longer to issue due to COVID-19 because carriers may have additional underwriting screening and application requirements not usually necessary under normal application circumstances.
- Jenny Life makes certain claims about the how much a policy can cost (daily or monthly premium equivalent) and how much policy face value that amount of premium will purchase, on average. For example, we may say “get $500,000 in coverage for as little as $1 per day”. Typically this is a standard Term-10 policy for a 32 year old woman in average health. As of May 11, 2020 this policy would, on average, $22.65 to $23.19 per month, or roughly $0.76 to $0.78 per day. As you can see, in this example the policy could cost less than $1 per day. The top concern of people considering life insurance is cost/affordability of the policy. So, we make approximate representations as to price in order to show people that, generally, life insurance can be less expensive than they expected. It can be more or less expensive, so we provide free quotes to help consumers (“proposed insureds”) to get a better approximation of what they might expect to pay based on their age and general health. After applying this number can and often does change. Sometimes it’s more expensive, sometimes it’s less expensive.
- Jenny Life makes certain claims about how much a policy will pay out. For example, we may say that a policy will pay out $500,000. What this means is that if your policy is in good standing and that your premium is paid up, and you become deceased, and a claim is filed, your beneficiaries can expect to receive a payment for the full face value of your life insurance policy. This can be impacted for certain reasons, including but not limited to, being untruthful on your life insurance policy application, providing an inaccurate age or gender to the life insurance company, or committing suicide within usually the first one, two or three years after the policy is issued (depending on the state) which is known as the “contestability period”. During the “incontestability period” you life insurance benefits, the full face value of the policy, are typically paid to beneficiaries within 30 to 60 days of the filing of a claim after you become deceased.