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Dayforward Life Insurance: Does it really guarantee your income?

Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states.
After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in…

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Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by

Benji Carr

Former Licensed Life Insurance Agent

UPDATED: Jan 31, 2022

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Quick Facts

  • Dayforward Life Insurance Company is a new life insurance company that offers fast and affordable online life insurance policies
  • Munich Re is a major reinsurance company that is supporting Dayforward financially
  • To date, there are a limited number of Dayforward life insurance reviews or ratings

Looking for a no medical exam life insurance policy? Dayforward life insurance can be purchased quickly and easily using the company’s online application.

It’s not always better to choose a no exam life insurance policy despite the ease of acquisition. This article will explain why while also covering the Dayforward life insurance reviews, ratings, and more.

Keep reading to learn more about Dayforward life insurance or enter your ZIP code above to get free quotes from the leading life insurance companies in your area. 

What is Dayforward life insurance?

Dayforward Life Insurance Company Inc. is a relatively new insurance company that specializes in instant life insurance policies. Dayforward’s business model is designed to provide convenience to those looking to secure a life insurance policy by making the experience fast and easy to complete online.

Despite having the technology, many insurance companies still require medical exams, a lengthy underwriting process, and a long approval period. Dayforward life insurance policies can be approved in as little as one day according to the company website. 

Munich Re is a major reinsurance provider that currently backs Dayforward to ensure that the company is able to manage its financial obligations. This is extremely important for any life insurance company that is expected to pay out death benefits that often exceed $500,000.

Dayforward funding does appear to operate in a unique way compared to many other life insurance companies. The death benefit isn’t supplied in one lump sum as it would be with many traditional term life insurance policies. Instead, the death benefit is designed to match the policyholder’s income and be sent to the beneficiaries twice per month, very much like a normal paycheck.

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Is Dayforward life insurance any good?

Instant life insurance companies are growing in popularity over recent years. Many people prefer to spend as little time as possible dealing with insurance agents, making phone calls, and so on. While Dayforward does offer convenient features, it’s important to know that the company is trustworthy and financially stable.

Because Dayforward is such a new company, there are very few ratings or reviews available. Currently, the company has not yet been rated for financial strength by A.M. Best, Standard & Poor (S&P), or Fitch. Munich Re does boast an A+ A.M. Best rating, so there is at least some confidence in Dayforward’s financial status.

In addition, there are some Dayforward careers listed on LinkedIn which suggests that the company is at least growing and successful, to a point. There aren’t any employee reviews for Dayforward on Glassdoor or Indeed.

Along with a lack of financial strength ratings, there are virtually no ratings for customer service from accredited agencies. The Better Business Bureau has yet to establish a company profile for Dayforward and the National Association of Insurance Commissioners (NAIC) doesn’t appear to have any data on the company at this point.

To date, the only ratings that are available come from the company’s Google profile which is currently listed with a perfect five-star rating based on 15 reviews. One of the more helpful reviews is highlighted below.

I had my 5 month old in the bath when I came across an ad for Dayforward. I submitted an application and received a call less than 10 minutes later. Impressive! It was already 8pm so I wasn’t expecting to get a call right away.

Erik was super helpful and answered all my crazy, morbid questions. Dayforward helped me feel more at ease as the goal for me was to ensure my children were taken care of until they came of age to care for themselves.

As advertised, the Dayforward application process appears to be quick and easy. While you can complete the application online, it does look like Dayforward customer service is also responsive to calls.

Great pricing, very helpful staff when I had some questions and simple signup!



Another Dayforward customer did comment on the affordability of the policy he received, so you may be able to get a good deal on Dayforward life insurance as well. Overall, Dayforward insurance needs more time to establish more ratings and reviews, but everything does look positive thus far.


Should I buy Dayforward life insurance?

It’s hard to suggest buying a policy from a new life insurance company like Dayforward. This isn’t to say that Dayforward won’t offer a great product, it’s just too soon to truly know what your experience will be like because of a lack of information available.

Investing in life insurance is a major commitment that can add up financially over time. It is worth mentioning that Dayforward is joining a movement to help modernize the life insurance buying process with fast policies that can be set up online.

If you are intent on buying a life insurance policy online, you should consider some of Dayforward’s competitors as well. Some of the other companies that feature instant-issue life insurance or online policies include:

  • Bestow Life Insurance
  • Ethos Life Insurance
  • Jenny Life Insurance
  • Ladder Life Insurance

You might be more likely to find Ladder or Jenny life insurance reviews online since these companies were founded a few years before Dayforward. In either case, you could benefit by securing quotes from each of the aforementioned companies.

Otherwise, if you’re more concerned about getting the best rate on a life insurance policy rather than a quick application process, other types of term life insurance could be cheaper.

The best way to get the cheapest rate on a life insurance policy is to shop quotes from multiple providers. In general, no exam policies like Dayforward’s tend to cost a little more than a term life insurance policy with a medical exam, assuming you’re healthy.

Dayforward Life Insurance: The Bottom Line

Dayforward life insurance is a new type of insurance that provides income replacement instead of a traditional death benefit. The company offers fast online applications but has a lack of ratings and reviews so far.

By now, you should know whether or not you want to consider Dayforward life insurance. Looking for the best rates of life insurance? Enter your ZIP code below to get free quotes from the top life insurance companies near you.



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