Get Qualified for Life Insurance with Zero Money Down
If you were told you can't get life insurance because you don't have a checking account, we have great news. You can open an official, FDIC-insured checking account in 5 minutes from your phone with $0 required to get started.
$0 Deposit Required
No money needed to open your account today
5-Minute Online Setup
Easy application right on your phone or laptop
Fast Account Access
Get your routing & account numbers right away
Why Do Insurance Companies Require a Bank Account?
Life insurance policy premiums are paid automatically each month through bank Electronic Funds Transfer (EFT). Insurance companies use this method so that your policy never lapses by accident—guaranteeing your beneficiaries stay protected no matter what happens.
Choose a $0 Down Bank Account Below
All four banks listed below allow online setup in 5 minutes or less, require $0 minimum deposit, have $0 monthly fees, and provide instant routing and account numbers for your life insurance agent.
Capital One 360 Checking
Top choice with local Cafés & branches nationwide
Key Benefits:
- No minimum balance required ever
- Free initial 50-count checkbook order
- In-person support at 40+ Capital One Cafés & branches
- Get paid up to 2 days early with Direct Deposit
- Deposit cash at select Walgreens, CVS, and Target
SoFi Checking & Savings
Instant digital debit card + up to $400 bonus with direct deposit
Key Benefits:
- 0.50% APY on checking balance + 3.10%+ on savings
- Instant digital debit card added to Apple/Google Wallet
- No account fees or monthly maintenance charges
- Free $3M FDIC insurance coverage available
- No minimum balance requirements
Ally Bank Spending Account
100% online banking leader with no hidden fees, ever
Key Benefits:
- Zero monthly maintenance or overdraft fees ever
- Automatic round-up savings tools
- Add cash at any Walmart store nationwide
- Reimburses up to $10/month in out-of-network ATM fees
- 24/7 US-based customer service via phone & chat
Alliant Credit Union High-Rate Checking
Member-owned credit union open to everyone in the U.S.
Key Benefits:
- Member-owned non-profit credit union (NCUA insured)
- Anyone in the U.S. can join (Alliant pays your $5 membership fee)
- Up to $20/month out-of-network ATM fee rebates
- Award-winning mobile app (NerdWallet #1 Credit Union)
- Free initial check package provided
How to Open Your Account & Qualify in 5 Minutes
Follow these simple steps to open a checking account in minutes so your agent can move forward with your life insurance application.
Pick Any Bank Above
All 4 options require $0 upfront money and take less than 5 minutes online from your phone or computer.
Gather Your 3 Basic Details
You only need your Social Security Number (or ITIN), government ID info, and home address. No paystubs or credit check needed.
Click 'Open Account' & Complete Form
Follow the simple questions. When asked to deposit funds, choose '$0' or 'Fund Later'.
Copy Your Routing & Account Number
Once approved, log into the bank's mobile app or website to view your 9-digit Routing Number and Account Number.
Provide Numbers to Your Insurance Agent
Share these numbers with your insurance agent so they can begin your life insurance application and work toward getting your family protected.
What You Need to Have Ready Before You Start
No paystubs, credit score, or initial deposit required. Just grab these 4 basic details:
Social Security Number or ITIN
Required by federal banking laws for identity verification.
Government Photo ID Details
Your driver's license number, state ID, or US passport.
US Residential Address
Your current home address where debit cards can be mailed.
Mobile Phone & Email Address
To receive security verification codes and account confirmation.
Finished Opening Your Account? Let Us Know!
Once you've opened your account, fill out this quick notification form so your insurance agent can help finalize your life insurance policy.
Frequently Asked Questions
Protect Your Loved Ones Today
Not having a bank account is simple to fix. Take 5 minutes right now to open a $0 deposit account, then share your new routing and account numbers with your agent to begin your life insurance application.