Free term life insurance? Yep, it’s a thing and here’s how you can get it!


Term life insurance is something anyone who has people financially depending on them needs. But now there are a couple of ways you can get at least some basic coverage in place for free.

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Meet Avibra — the startup that wants to give you free life insurance!

An estimated 70 million people between the age of 18 and 38 are uninsured. So a new startup called Avibra wants to step in to fill that gap with an offer of free life insurance and more that you “earn” by having good health and wellness habits, in addition to solid life skills.

The Avibra app, which will be available shortly for iOS and Android, has four key components:

Free life insurance – Imagine earning $1,000 in life insurance coverage for getting a workout in during your busy week. Or how about getting a free $500 in coverage for paying your credit card on time, $1,500 for volunteering in your community, or $2,000 for graduating from college?

Those are all scenarios that Avibra shows on its website ahead of its app launch. But this innovative insurance offering is still coming together and, as a result, there are a few unknowns.

For example, Avibra hasn’t yet said what the amount of coverage you can earn will be capped at. And we don’t yet know who will be underwriting the policies, though Avibra does note on its FAQs that all participating insurers are expected to be rated A- or better by A.M. Best.

However, this much we do know: The life insurance coverage through Avibra will be completely free. That’s prompted the app to call itself “the Robin Hood of Life Insurance” in honor of the zero-commission stock trades that are famously offered by the the company of that name.

Well-being advice – Using artificial intelligence, Avibra offers a personal assistant named Arya that will pick through your daily habits and identify the good and the bad.

When Arya identifies a good habit, she’ll incentivize you to do it more with offers of free additional life insurance coverage.


But note this: While the personal assistant will call attention to any bad habits you may have, your coverage will never decrease as a result of them.

Life Wallet – By suggesting the right insurance as you age and your life changes, Avibra describes the Life Wallet as a way to automate your insurance needs.

ReMA (Reward Me Arya) API – This functionality integrates your existing health and wellness apps (think Fitbit, Apple Health, etc.) into the Avibra universe so you can get even more free life insurance coverage.

Avibra is co-founded by a former New York Life executive named Yogesh Shetty who wanted to expand the notion of what life insurance is and reinvent it for the digital age.

“There’s this misconception that a person only needs life insurance when they have children. But in a way, life insurance is basically love insurance,” the entrepreneur writes on LinkedIn. “The person behind that love could be your parents, grandparents, brothers, sisters, best friend, husband, wife, partner, pet or even a charity of your choice.”

When reached out to Yetty to find out when Avibra would be available for download, we were told, “We plan to make [the app] available both in Apple and Google store before Christmas.”

So stay tuned for further developments!

Meanwhile, Avibra is far from the only company that offers some kind of basic free life insurance coverage.

MassMutual’s LifeBridge program offers a 10-year term life with $50,000 of coverage to families that meet income and other requirements. However, those diagnosed with heart disease, cancer, HIV or type 1 diabetes aren’t eligible for the free policy. Get full details here.

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