Starting a family raises a lot of financial questions for young parents.

Being responsible for a little human sheds harsh light on everything you know or dont know about your finances.

What Is Fabric Life Insurance?

A mother and daughter have fun while the mother does her daughter’s hair.

Fabric is a Brooklyn-based financial services company designed specifically for parents to start their financial life.

Probably not as good as youd like.

It always seems like an uphill battle to build (and keep) a decent amount in savings.

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But what if your car breaks down, or you have a sudden medical bill?

Heres what you get when you sign up.

Term Life Insurance

Fabric offers 10-, 15- and 20-yearterm life insurancepolicies.

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A Fabric life insurance policy covers death from accidents or illness.

Then its algorithms determine whether youre eligible to get an offer, ineligible or need to provide more information.

You wont pay anything for the exam.

Your life insurance coverage begins upon receipt of your first premium payment.

you’re able to cancel your policy anytime after that with no premium refund.

Youll pay monthly premiums via automatic card payments.

Death by illness or natural causes isnt covered by an accidental death policy.

A.D. doesnt have a term.

Itll automatically expire on the policys anniversary date nearest your 60th birthday.

The price will be based on your age when you apply.

You dont have to buy a life insurance policy from Fabric to get access to this feature.

Use it to keep track of your bank accounts, retirement accounts, credit information, loans and more.

All of Fabrics financial management tools are available through its mobile app for iOS and Android.

How Much Does It Cost?

It keeps life insurance simple to make it easy and, in most cases, quick to sign up.

Fabric Customer Service

Fabrics customer service team gets excellent reviews from pleased customers.

Theyre available via email Monday through Friday from 9 a.m. to 6 p.m. Eastern Standard Time.

Reach them at[email protected].

The website also has a hefty FAQ section, though answers arent particularly comprehensive.

If you have a complicated question about your coverage, youre probably best off contacting support.

Who Is Fabric Life Insurance Best For?

Applicants older than that cant be instantly approved.

Fabric offers term life insurance policies in all states except California, Montana and New York.

The Penny Hoarder staff contributed to this post.

When you log into your bank account, how do your savings look?

Probably not as good as youd like.

It always seems like an uphill battle to build (and keep) a decent amount in savings.

But what if your car breaks down, or you have a sudden medical bill?