Dayforward Life Insurance Review

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Contributor, Benzinga
December 14, 2023
Overall Rating:
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Dayforward is a unique insurance company focusing on paying life insurance claims in the manner you would receive a twice-a-month paycheck.

Built for the realities of modern life, where a 1-lump sum payment may not be ideal to maintain financial security, Dayforward offers affordable life insurance to those on a budget. Find lower than average premiums as well as help from licensed insurance agents to help you find the right plan.

Currently, Dayforward is available in 37 states: Alabama, Alaska, Arizona, Arkansas, Colorado, Delaware, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Washington, Wisconsin, Wyoming and the District of Columbia

Best For
  • Young families, single parents, couples, homeowners, and anyone with dependents without a clear idea of how much life insurance they need
  • Someone looking for life insurance on a budget
  • Consumers seeking a steady stream of income over years in a life insurance policy instead of a one-time lump sum payment
  • Lower than average premiums
  • Licensed pros to help you with your coverage and budget needs
  • Unique benefit payment structure that can pay out until your youngest child turns age 18, 21, or even 26
  • One-time lump sum payment not currently available

Dayforward Ratings at a Glance

Which Types of Life Insurance Does Offer?
Customer Service
Policy Pricing
Policyholder Benefits
User Experience
Overall Rating

Which Types of Life Insurance Does Dayforward Offer?

Dayforward Life Insurance Company Inc. is primarily a direct-to-consumer insurance carrier, meaning it can sell the policy to you directly with no middleman, no commissions and no hassle. Yes, you work with a financial professional when purchasing coverage, and the life insurance protection you can access is very easy to manage.

The policies from this life insurer are designed primarily for parents who want to leave their children with a solid financial base upon which they can grow. According to a study from JAG Institute in 2020, 1 in 17 children will lose a parent by the age of 18. This means that life insurance coverage is vital for your family. At the same time, these policies can dovetail with retirement plans you already pay into.

Dayforward currently offers a term life insurance policy that can be personalized to you and can be adjusted as your life changes through available add-on features (AKA riders) to meet your needs. When you apply for a policy, Dayforward will ask you your date of birth, gender, annual income and the birthdate of your youngest child.

Why your youngest child? Dayforward bases its recommendation for the policy length on the age of your youngest child so that all your children have financial protection until they are adults of an age you select.  You may have more than one life insurance beneficiary, but you want the coverage to reach the youngest child, thus making the life insurance program the only one you’d need. Dayforward will then make monthly income payments until your youngest child reaches the age of when you think they’ll be financially independent (from as young as 18 to as old as 26). You may also purchase a policy to protect your spouse or another loved one if you do not have children. 

With Dayforward’s Child Extension rider, if you have a child later on policies can be simple to adjust. So, if you adopt or grow your family, you can add to the policy’s value by extending your coverage until your new child grows up.  Also, with Dayforward’s Income Increase rider, if you get a raise after you purchase your policy, you can increase how much income they protect. (Certain conditions and limitations apply.) 

If you die while your policy is active, your beneficiaries will receive a twice-a-month payment equivalent to your income (or lower income level you may decide to protect), and they will continue to receive those payments until your youngest dependent children turn 18, 21, or even 26. Plus, an additional one-time payment of $10,000 to help take care of funeral costs.

Coverage in summary: 

  • Protect your personal or household income of $12,000-$500,000 per year, with a term length ranging from 10-27 years
  • Ages 18-50 are eligible for instant coverage, max coverage until age 67
  • Coverage options as high as $10M on the first day of the policy term 

As of October 2023, Dayforward is available in 37 states: Alabama, Alaska, Arizona, Arkansas, Colorado, Delaware, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Washington, Washington DC, Wisconsin, Wyoming and the District of Columbia

Dayforward Customer Service

Dayforward has a dedicated help email, a phone number, live chat service and a text option where you can connect with a member of their team. Its list of FAQs includes text and videos offering in-depth descriptions of its service and products.

Non-commissioned licensed life insurance pros work for Dayforward, who can answer your insurance questions and discuss your coverage and budget needs. This life insurance company offers a unique product that requires a little bit more thought on your part, but you can also reach out to the platform for help if you want to learn more about your life insurance gap, find a life insurance solution that suits your situation or ask general questions.

In addition to speaking with a licensed life insurance pro, you can reach Dayforward on Instagram, Facebook, Twitter, YouTube and LinkedIn. For a new life insurance carrier, it’s started off the right way.

Dayforward Policy Pricing

On its website, Dayforward explains that it can provide some income protection at prices as low as $7 per month for those in excellent health. While pricing may vary, they’ve designed their structure with the goal to be as affordable as possible. Plus, you are not required to make a yearly payment as premiums are payable monthly. 

As a life insurance startup, Dayforward has done well to offer insurtech services that keep costs down, especially as other life insurance companies increase prices over time. The underwriting system, is simplified, and you can review life insurance policies thoroughly before signing up and paying.

Dayforward policies also provide valuable coverage those who die later on in their policy, when their children are older. Beneficiaries receive at least 3 years of income when filing a claim, even if the children have reached the final year of coverage.

Pricing in summary:

  • Starting at $7/month based on excellent health
  • Premiums include a $5/month subscription fee, plus a cost per every $1,000 of the income Dayforward protects

Policyholder Benefits

Dayforward sends semi-monthly income benefit payments (like paychecks) to your beneficiaries when you die while your policy is active, replacing your income in their time of need. Yes, a huge lump sum payment may seem lovely upfront, but those funds could be mispent or mismanaged leaving your family nothing or less than they need in later years. A steady stream of income for the remainder of the policy term for your beneficiaries helps ease the financial stress of leaving a spouse or relatives to care for young children or having to pay the mortgage alone, etc.

Imagine the weight that lifts from the shoulders of, for example, a single parent who’s just lost a spouse. Single parents likely won’t need to move in with relatives, and they do not need to downsize, move their children away from familiar schools or friends or seek new or additional employment immediately upon their spouse’s death.

Likewise, the children maintain their quality of life, whether that involves playing sports, attending tutoring, enjoying private lessons, signing up for extracurriculars etc. -- all the things you were able to provide for them through your income while you were around.

Dayforward is also straightforward about how it services its policies. Moreover, the company is reinsured by Munich Re — an A+ rated firm — to ensure it can meet all its obligations. 

The most important benefit is the value of the policy. Most people who purchase insurance through Dayforward can expect to have ~2 times more coverage than they would from a conventional policy of the same length. (A comparable policy's coverage is 12x the annual protected income and the nearest Dayforward term length.) The total value of all those income benefit payments adds up over the remainder of the policy and if you die earlier on during your policy term, the total benefit payments added up would likely surpass (and potentially by a large margin) a comparable conventional policy’s face amount.

A unique benefit of Dayforward is the one-time $10,000 payment for funeral and after-life expenses. This particular part of the policy helps the family pay their respects to the policyholder after their death without wondering how they will pay for what generally proves to be an expensive funeral.

Benefits in summary: 

  • If you die, your family will continue receiving your income twice a month (like paychecks) until your kids are grown up. 
  • With Dayforward, most people only need one policy with the innovative add-on features that come with pre-set pricing.
  • If you get a raise, you can increase the income you’re protecting
  • If you have a new child, you can extend your coverage until they grow up
  • Additional one-time payment of $10,000 to help cover funeral costs

Dayforward User Experience

Users can contact Dayforward for more information on their policy, get a quote in seconds using the quick price tool on the company’s website or study their options before buying. While there is no mobile app yet, it seems unnecessary, to be quite frank. The site is optimized for mobile use, reads well on your phone and provides you with all the information you need. 

Perhaps the most important part of the user experience is the 1-day turnaround that most Dayforward policy owners have experienced. Because Dayforward uses automated underwriting technology, you get an answer without waiting too long. Plus, you quickly receive notification if you do indeed need a medical exam, but even that is easy because Dayforward can send a qualified examiner directly to your home or office.

Experience in summary:

  • 3-step application process only takes minutes and can be completed online or by phone 
  • Dayforward pros are licensed and non-commissioned

Dayforward vs. Competitors

Dayforward offers a different kind of life insurance, one that completely changes how nearly all companies think about their policies and coverage options. Dayforward protects your family with life insurance that literally protects your income so if you die, their standard of living can stay the same until your kids are grown. Going above and beyond is part of what Dayforward does, and it outpaces the competition with:

  • Semi-monthly income payments for your beneficiaries until your youngest child is 18, 21, or even 26
  • Guaranteed coverage whether you die early or late in the policy, with more coverage provided if you die early on than if you die later into your policy term
  • Low premium options available 
  • The ability to adjust the policy after purchase with pre-set pricing through their unique, available riders
  • Flexible policy designed to eliminate the need for supplemental insurance
  • Dayforward owners have saved an average of 10% over comparable policies. (A comparable policy's coverage is 12x the annual protected income and the nearest Dayforward term length.)

Dayforward Overall Rating

You can't go wrong with cover from Dayforward Life Insurance. This excellent insurance product deserves the 5 stars it has received. The review speaks for itself. Dayforward can replace your monthly income, help your family continue their normal standard of living and provide your children with the financial security so many young kids lack when they lose a parent.

Frequently Asked Questions


What is voluntary life insurance?


Voluntary life insurance is purchased by an employee as part of their benefits package, complete with a monthly premium and a promise to pay the beneficiaries upon the employee’s death. This type of policy is often considered “supplemental” life insurance.


What is the difference between basic life insurance and voluntary life insurance?


Unlike voluntary life insurance, basic group life insurance is often provided by an employer to employees at no cost.


Should parents purchase life insurance when their kids are young?


Yes, you want to purchase life insurance when you have kids and adjust the figures on the policy as they grow older or you have more children.

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