eFinancial life insurance: who issues it and how it works

Overview

eFinancial is a life insurance agency that sells directly to consumers by phone and online. It started in 2001 as a software company building systems to sell life insurance online or over the phone, and Fidelity Life bought it in 2009. Both companies are now owned by Vericity, Inc., which Canada's iA Financial Group bought in a deal that closed June 28, 2024 (about $170 million).

The company says it has helped more than 900,000 policyholders obtain over $135 billion of coverage since 2010 (internal data as of February 2025). Its model pairs a proprietary, patented quoting system with licensed agents, and it says many customers can get a policy "on a single phone call." The office listed on its site is in Des Plaines, Illinois, the same city as Fidelity Life's headquarters.

Who issues the policy

eFinancial is an agency, not an insurer. The policy is issued by whichever insurance company you buy from, and that company pays the claim. eFinancial's support page says policy changes other than payment updates go through "the company that issued the policy," and beneficiaries get claim forms from that insurer.

The insurers eFinancial names on its homepage (October 2026) are:

• Fidelity Life (an affiliate: same parent company)
• Protective
• Mutual of Omaha
• Corebridge
• Prudential
• Transamerica

The ownership link matters. eFinancial and Fidelity Life share a parent, so an eFinancial agent may recommend a policy from a sister company. That is not improper, and eFinancial does show other insurers, but you may want to ask an agent to show you quotes from more than one company and explain why one is recommended. Our guide to captive vs independent life insurance agents covers how agent affiliations work.

How buying works

You enter a ZIP code and a few details online to get an estimate. eFinancial says the online quote is "only a starting point" and that a licensed agent will work with you by phone to refine it. The agent recommends policies from its insurers, and completes the application with you; eFinancial says customers can often get the coverage they need on a single call.

Whether you need a medical exam depends on the product. eFinancial says most traditional policies require an exam to set eligibility and price; simplified issue policies use a health questionnaire and your medical history instead, and guaranteed issue policies need neither. Its final expense page says approval on those small policies can take hours or days rather than weeks.

After the policy is issued, the insurer bills you, though eFinancial's customer service line can update payment information. Your state's free-look period lets you return a new policy for a refund.

Products and limits

• Term life: 10-, 15-, 20- and 30-year level terms. Coverage amounts and issue ages depend on the insurer.
• Permanent life: whole life and universal life.
• Final expense: for ages 50 to 85, usually $5,000 to $40,000 of coverage, with no exam and in many cases a few health questions.
• Guaranteed issue life and accidental death coverage.
• Riders listed on the site include terminal illness, accidental death, waiver of premium, return of premium, child and inflation riders, depending on the policy.

Reputation

eFinancial's main insurers carry strong financial strength ratings. On our profiles: Fidelity Life was upgraded by AM Best to A (Excellent) from A- on October 16, 2026; Protective Life is A+ (Superior, affirmed October 2026); Prudential A+ (August 2026); Mutual of Omaha A+ (April 2026); Corebridge Financial A (April 2026); and Transamerica A (December 2025).

eFinancial relies heavily on outbound calls after quote requests, which has drawn telemarketing lawsuits. In Johansen v. eFinancial (W.D. Wash.), a Telephone Consumer Protection Act class action over calls to numbers on the Do Not Call Registry, the court granted summary judgment for eFinancial in January 2022, finding the plaintiff had agreed to be contacted through its online quote form and that its practices met the TCPA safe harbor. We found no state insurance department action against eFinancial LLC in public sources.

Who it suits

eFinancial suits people who want a licensed agent to recommend a policy and handle the application by phone, often in one call, and older buyers comparing small final expense policies. It is less suited to shoppers who want to finish everything online without talking to an agent, or who want a broker with no ownership ties to any insurer.

Strengths

• Licensed in every state and D.C., including New York
• Term, permanent, final expense and guaranteed issue in one place
• Agents can complete many applications in a single call
• Backed by an insurer group (iA) with an A-rated U.S. carrier

Weaknesses

• Same parent as Fidelity Life, a potential conflict when an agent recommends that insurer
• Phone-centered; online quotes are estimates and lead to calls
• Short published list of insurers

How to contact eFinancial

• Customer service: 800-482-6616
• New quotes: 888-616-1655
• Office: 1350 E Touhy Ave., Suite 205W, Des Plaines, IL 60018

For beneficiary changes, coverage changes and claims, contact the insurer named on your policy; an eFinancial agent can point you to the right department.