Progressive Life Insurance Review

In this article...
  • Progressive is one of the insurance industry's leaders in innovation and technology. See if a Progressive life insurance policy is right for your needs.

If you’ve watched TV recently, you’ve probably seen a commercial featuring Flo, Progressive’s instantly identifiable advertising icon.

Although Flo has cemented the company’s place in popular culture history, insurance shoppers may be more interested in whether a life insurance policy from Progressive is worth their while.

Keep reading to learn more about Progressive and its innovative approach to insurance.

About Progressive

Since it opened for business in 1937, Progressive has prioritized innovation and customer service. The company can claim a number of industry firsts, including the first drive-in claims location and the first 24/7 toll-free insurance comparison service. It was also the first insurer to offer consumers the option of purchasing auto insurance online in real time.

Additionally, Progressive’s Safe Driver program established an industry policy standard by offering lower rates to accident-free drivers.

Today, Progressive continues to lead the industry in innovation and technology, letting customers get insurance quotes through Facebook Messenger or via voice command on Google Home. The company has also been named repeatedly to Fortune's list of the 100 Best Companies to Work For.

What Life Insurance Products Does Progressive Offer?

In addition to life insurance coverage, Progressive offers policies in several main categories: vehicle, including property, personal and commercial.

Vehicle Insurance

Progressive offers standard auto insurance policies that provide collision and comprehensive coverage for individual drivers. However, it also insures various other types of vehicles, including:

  • RVs
  • ATVs and UTVs
  • Golf carts
  • Segways
  • Motorcycles
  • Snowmobiles
  • Classic cars
  • Boats and private watercraft

Progressive also offers mechanical breakdown coverage and insurance for travelers planning on driving into Mexico.

Property Insurance

Whether you own or rent, Progressive has policies that safeguard your home and property. The company offers standard insurance options such as homeowners and renters insurance, including plans for condos and mobile or manufactured homes.

Optional flood insurance is available for policyholders who live in a flood zone and must carry additional coverage. The company also sells home warranty plans, which provide protection for appliances and electrical systems in the event of mechanical failure.

Personal Insurance

Personal insurance policies are designed to protect individuals against losses resulting from injuries, accidents and damage to property. Progressive offers numerous types of personal insurance policies, including:

  • Pet insurance
  • Travel coverage
  • Event insurance
  • Electronic device coverage
  • Health, dental and vision plans
  • Identity theft protection
  • Umbrella insurance

Commercial Insurance

Businesses of all sizes can get coverage through Progressive. The company offers business owners’ policies that provide liability and property protection regardless of industry.

Progressive also offers commercial automobile coverage, general and professional liability insurance, and workers’ compensation plans.

Life Insurance

Progressive offers life insurance through eFinancial, a service that lets shoppers compare quotes and apply for coverage from top-rated insurance providers, including:

  • AIG
  • Prudential
  • Mutual of Omaha
  • Fidelity Life
  • Transamerica
  • Protective

The service lets consumers choose from a wide range of insurance solutions, and policies are matched to individuals based on their age, financial needs and other requirements. Plan types include:

  • Term life insurance: Life insurance plans with 10-, 15-, 20- and 30-year terms are available. Designed for affordability, these plans offer a death benefit if the insured passes away during the contractual term. They may be ideal for families with minor children or consumers with limited-term financial obligations such as mortgages or college tuition payments.

  • Whole life insurance: Whole life plans provide permanent coverage, with fixed premiums and a guaranteed death benefit. Policies typically include an investment account that accrues value, which policyholders may withdraw or borrow against if the need arises.

  • Universal life insurance: Universal life plans are meant to be flexible, letting policyholders adjust their premiums and the death benefit to accommodate their family’s changing financial needs. Plans typically include an investment component, and returns may depend on market conditions.

  • Final expense insurance: A final expense plan is a type of permanent policy with a modest death benefit. It's typically intended to help families pay for funeral services, burial and other end-of-life costs. This affordable coverage usually requires no medical exam prior to approval.

  • Short-term life insurance: These 1-year plans may offer coverage for just dollars a month, with death benefits as high as $200,000. Because most short-term plans don’t require a medical examination, applicants are often approved in minutes. These plans may be used to fill gaps in coverage.

Many of these plans can be customized through riders, which let policyholders purchase additional benefits for specific circumstances. Optional riders may include:

  • Accelerated death benefits
  • Waiver of premiums in the event of disability
  • Family income benefits
  • Long-term care coverage
  • Critical illness riders

The Pros and Cons of Progressive

Progressive is an industry innovator, which means consumers can benefit from the company’s comprehensive online tools and other high-tech offerings.

Quotes are available through several digital channels, such as Facebook Messenger, and via voice command through Google’s virtual home assistant. The company also has a solid financial background, 24/7 customer service and high coverage limits.

Progressive’s main disadvantage is that it doesn’t underwrite its life insurance policies directly. Rather, it routes applications through a third-party matching service.

Additionally, many of its policies require a medical exam prior to approval, so individuals with health issues or a high-risk family history may find it difficult to get coverage.

Progressive Reviews: What People Are Saying

Positive reviews of Progressive often mention the company’s wide selection of policies, 24/7 customer service availability and user-friendly website, with one review noting how easy it was to access policy information online.

Several reviewers also praised Progressive’s reasonable rates and high coverage limits. However, some reviewers also mentioned unexpected price increases and a lack of available discounts to reduce the cost of a policy.

Is a Progressive Life Insurance Policy Right for You?

A Progressive life insurance policy through eFinancial may be right for you if you want to compare plans from multiple insurers and don’t mind using a third-party service for quotes and applications.

Policyholders can choose among multiple plan types, and policies are provided by reputable, financially stable industry players. Progressive is also a great choice for individuals who like to manage their policies on their own using digital tools.

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