Walnut Insurance Review | A Life Insurance Membership Worth Trying

$10/month Starting from

5/5

(everyone and their moms love Walnut)

Buying Life Insurance Online Has Never Been So Easy

Walnut Insurance is a Canadian insurance company that hasn’t been around for too long, but it’s already making a name for itself.

Walnut Insurance is the first company to offer life insurance membership plans that include subscriptions to wellness products like Headspace.

The company was started in 2020. It’s a good business move and a great way to help clients with their health care.

Life insurance as a premium membership is an unusual idea, but it’s a good way for Walnut Insurance to reach its target audience, which is Gen Zs, Millennials, and young adults in general.

It also makes it easier to get life insurance for seniors as well – a perfect way to leave an inheritance, cover funeral costs or protect against taxes upon death.

Walnut Insurance provides membership-based term life insurance plans without requiring a medical exam.

Instead, you can obtain coverage of up to $1 million as well as other member benefits by just responding to a few health and lifestyle questions.

Walnut’s major products are term life insurance plans acquired through the RBC Life Insurance Company of the Royal Bank of Canada. This sort of premium life insurance coverage includes the following benefits:

The purpose of Walnut term life insurance is to protect your dependents financially and pay your final expenses (funeral costs, debts, etc.) after your death.

However, it can also serve as a safety net to safeguard you from some financial losses for a brief time while you’re still living and have major expenses, such as your child’s education or mortgage.

  • Terms of 10 or 20 years (newly introduced 30 and 40 year plans)
  • Anyone aged 18 to 70 is eligible to apply
  • $50,000 – $1,000,000 of coverage for clients under the age of 55
  • $50,000 – $499,999 of coverage for clients aged 56 or older
  • Optional benefits are available (ClassPass, Dashlane, Headspace, etc.)

Why do we love Walnut Insurance?

Not only do you have Term life insurance but they have added perks available (ClassPass, Dashlane, Headspace, etc.).

Over $25 USD in monthly benefits as part of the life insurance bundle – at a fraction of the cost.

  • Walnut offers Term Life Insurance from RBC Insurance.
  • Transparent plans that start at $10
  • Instant Coverage
  • Access to Term life insurance and digital protection membership
  • Get a quote online within a few minutes

Access to membership benefits like Headspace Plus, ClassPass Digital, and Dashlane Premium.

 

What do you get with Walnut Life Insurance?

Subscription plans come with sweet perks

Walnut Insurance has come up with a new idea: a life insurance plan that is based on membership and has extra benefits.

They know that millennials (their target group but open to demographics) love perks more than anything else.

Together Headspace, ClassPass, and Dashlane can cost at least $27 per month and can help you with your mental health, your physical health, and the safety of your personal information. Getting these as a member benefit of Walnut is a sweet perk at a sweet price.

Digital protection is a unique and convenient option

Walnut Insurance has more than just life insurance.

They also have a membership called Digital Protection that is just as unique as their life insurance membership.

Your identity, passwords, and financial assets are all protected from online scammers, hackers, and other threats.

If you need help at any time, you can call Walnut’s support line. Since they’re an insurance company, it shouldn’t come as a surprise that you’re covered for up to $1 million in stolen funds if you ever have an identity theft problem.


A fully online application process


Walnut Insurance is only available online, which makes it very easy and convenient to choose an insurance policy.

If you have questions, you can always use the online chat to talk to an agent, but if you don’t, you can usually get a quote in 10 to 15 minutes after filling out your information.

There is also no medical exam, which is a relief and makes things easier.


Transparent and surprisingly low pricing

Walnut Insurance is different from other insurance companies because it puts price before coverage, and its membership plans start at just $10 per month.

It’s nice to see an insurance company be so open, and it can be a huge relief for potential customers because it gives them the information and time they need to think about their options before signing up with Walnut.

Flexible age requirements

Walnut is less strict about the age requirement for both the 10 year and 20 year term insurance. In fact, the maximum age is 85, minus the term. So the maximum age for a 10-year term is 75. For 20 years, the number is 65.

Walnut currently offers term life insurance available in 10-year terms and 20-year terms. Walnut does not offer whole or universal life products, but you can talk to our life insurance advisor

Walnut partnered three premium brands to help you live your best life. Headspace for mental health, sleep, and focus guidance, ClassPass for access to hundreds of digital fitness classes, and Dashlane to help you autofill passwords and protect your online identity.

Adults 18-70 years of age may be eligible to purchase online.

Consider the obligations and individuals you may want to take care of.

Are there debts, including mortgages, that you would like to cover in case you pass away?

Dependents like spouses or children who depend on your income for everyday expenses or for education?

Funeral and other final expenses?

And then reduce that amount by any liquid assets like cash, savings, or other investments that could be made available to loved ones immediately.

Over The Age Of 50

$43.06/Month Starting from

5/5
(4.5 reviews)

Over The Age Of 60

$65.07/Month Starting from

5/5
(4.5 reviews)

Insurance For Your Mortgage

$29/month Starting from

5/5
(4.5 reviews)

Funeral Expense Insurance

$24.03/Month Starting from

5/5
(4.5 reviews)
0
Would love your thoughts, please comment.x
()
x