Finding the best life insurance provider for your needs can be a daunting task, and getting the wrong insurance policy can mean paying hundreds of dollars more than you need to.
According to research, about 80 percent of Americans spend at least 50 percent more than they need to for their life insurance as a result of choosing the wrong insurance provider.
You don’t want to be part of this statistic, and that’s where Leap Life Insurance can come in handy.
Leap Life simplifies and streamlines the process of finding the right life insurance.
You can apply in minutes and get instant quotes from leading life insurance companies.
Let’s take a look at Leap Life’s key features to see if they can benefit you.
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Leap Life Overview
Leap Life is a life insurance technology firm founded in 2017 and headquartered in San Francisco, California.
The company’s primary goal is to match consumers with insurance policies that perfectly suit their needs from some of the top-notch life insurance companies, both local and national.
Benefits of Leap Life
You can use the Leap Life online platform to find the most competitive rates on life insurance policies.
Once you provide the required information, the insurance agency compares policies from a variety of insurance providers and allows you to choose the best policy for your needs.
Leap Life offers a fast approval time and boasts an A+ rating from the Better Business Bureau.
Besides providing life insurance, this insurance agency also offers an effective insurance needs estimation tool based on assets, current income, and life situation.
Another great thing about this insurance agency is that it allows your coverage to begin immediately.
Who Should Use Leap Life
Leap Life is ideal for parents and families.
The company points out the fact that life insurance can help you accomplish at least one of the following:
- Pay for funeral and other final expenses
- Replace at least some of your income for a time
- Cover the cost of your children’s college education
- Pay off your home loan or other debt
What Makes Leap Life Insurance Stand Out?
One thing that sets Leap Life apart from most of its competitors is that it provides a form of insurance known as level term life insurance. With this kind of insurance, you’ll need to make even monthly payments throughout the course of your life insurance policy.
You get to benefit from only life insurance as the policy doesn’t involve any build-up of cash value. This is one of the best life insurance policies for people below 30. You should realize, however, that Leap Life offers level term life insurance policies that are convertible.
A convertible policy means that you can take your term life insurance policy and “convert” it to a whole policy.
The advantage is if you get to the end of your term or you have a life situation change, you can make that policy permanent without having to go through underwriting.
Whole vs Term Life Insurance
Namely, it is not possible to convert the policy into a whole-life policy at some point in your life. While a whole-life insurance policy is not one of the best investments, it can be beneficial when it comes to estate planning.
Term life insurance doesn’t last forever. It can expire when you are still too young.
You may not have achieved financial independence by the time the policy expires, but with careful planning and goals in mind, you can save a tremendous amount of money with term life insurance.
How Leap Life Works
Application Process
Leap Life allows you to apply for insurance policies online. This saves you the stress that comes with dealing with sales agents. This insurance agency employs state-of-the-art artificial intelligence technology to match you with the most appropriate policy and insurer.
Leap Life uses your answers to determine your likelihood of getting approved for the policy you are looking for and at the most affordable prices from all the available insurers.
With the answers you provide, Leap Life will be able to match you to the best, simplest, and most cost-friendly policy without having to speak to a sales agent.
Who Qualifies for Leap Life Insurance
You need to be aged between 18 and 75 years to be able to apply for Leap Life insurance. Term policies usually come in increments of 10 to 30 years.
Nonetheless, because Leap Life can connect you to a variety of options, it is advisable to go through the quote process to see the options available.
Coverage
It is also worth noting that term life-death benefits normally range from $250,000 to $5,000,000. However, some carriers associated with Leap Life may fall out of this range. Moreover, policy extras such as term to permanent conversions may also vary based on the specific insurer.
Leap Life points out that it selects the insurance providers with the most competitive rates and the best financial strength ratings. That is manifested by the list of Leap Life affiliates that includes the industry frontrunners like Pacific Life, Assurity, and Protective.
Leap Life Extra Riders
The fact that Leap Life offers life insurance policies from different carriers, additional riders will depend on the insurance provider you choose. Here are some of the riders you can get from various carriers:
- Child Protection Rider
- Disability Income Rider
- Guaranteed Insurability Rider
- Family Income Benefit Rider
- Critical Illness Rider
Carrying a rider that you don’t need can add unnecessary costs to your policy. It is advisable to take your time to understand the riders, as well as consult with Leap Life, to ensure you choose a policy with the right rider that suits your needs.
Key Aspects of Leap Life Insurance
| Aspect | Description |
|---|---|
| How Leap Life Works | • AI Matches Applicants With Policies and Insurers, Bypassing Sales Agents |
| Application Process | • Age Eligibility: 18-75 • Term Policies: 10-30 Years, Coverage: $250K-$5M, Varies by Insurer |
| Who Qualifies for Leap Life Insurance | • Ages 18-75 • Term Policies 10-30 Years, Coverage $250K-$5M, Varies by Carrier |
| Coverage | • Partners with Competitive Insurers like Pacific Life, Assurity, Protective • Research Recommended Carriers |
| Leap Life Extra Riders | • Additional Riders Vary by Insurer, e.g., Child Protection, Disability Income, Critical Illness • Choose Wisely to Avoid Extra Costs |
Leap Life Carriers
Leap Life gives you the opportunity to compare policies from some of the best life insurance providers in the country, including:
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Legal & General Life Insurance Company |
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Bottom Line
Leap Life is committed to streamlining the process of finding life insurance by leveraging technology. It brings a whole new experience to the world of life insurance.
It is geared to protect not only your life and that of your loved ones but also your time and money.
You can be matched instantly with a policy that perfectly fits your specific needs and financial situation.
You have the opportunity to choose from the country’s best insurers, including Fidelity Life, Mutual of Omaha Life Insurance, SBLI, Transamerica Life Insurance Company, Assurity, AIG, and more.
If you are looking for low-cost life insurance, you can’t go wrong with Leap Life.
This insurance agency can help you save up to 40 percent on life insurance with less hassle than calling for a single quote.
How We Review Insurance Companies:
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We actively collect information from insurance companies and place significant weight on customer feedback. By integrating this feedback with our research, we can offer a well-rounded evaluation. Each company is then rated based on multiple criteria, resulting in a star rating from one to five.
For a deeper understanding of the criteria we use to rate insurance companies and our evaluation approach, please refer to our editorial guidelines and full disclaimer.
Product Name: Leap Life Product Description: Leap Life optimizes the process of selecting and applying for life insurance by employing cutting-edge technology to match individuals with the best policies for their unique needs. The platform stands out for its user-friendly interface, quick application process, and instant quotes from a variety of top-tier insurance providers. Summary Leap Life revolutionizes the life insurance journey, catering to modern consumers who value efficiency, variety, and autonomy. Through a seamless online process, applicants input their details, harnessing the platform’s artificial intelligence to scour through numerous policy options from reputable insurers. Beyond mere convenience, Leap Life empowers users by providing a tailored insurance shopping experience, factoring in personal, financial, and health variables to offer optimal policy matches. The company is a beacon for those seeking transparent, uncomplicated, and trustworthy avenues for securing their financial future. Pros Streamlined Process: Leap Life eliminates the complexities traditionally associated with buying life insurance, offering a straightforward online application and rapid approval times. Personalized Matches: Utilizing advanced AI technology, the platform provides highly customized policy recommendations, significantly increasing the likelihood of user satisfaction and policy efficacy. Variety of Choices: By partnering with multiple insurance carriers, Leap Life ensures users have access to a broad range of options, accommodating various needs and preferences. Educational Resources: The platform aids informed decision-making by offering tools for users to understand their insurance needs accurately, demystifying industry jargon and policy particulars. Reputable Partnerships: Leap Life’s collaboration with established insurance providers ensures reliability and quality in the policies offered, enhancing user trust. Cons Limited Policy Types: The focus on term life insurance means options might be limited for those seeking whole life or other permanent life insurance solutions. Dependent on Partner Offerings: The specifics of available policies, including potential riders and unique features, are subject to the offerings of partner insurers, possibly limiting the scope of coverage. Lack of Personal Advisor Interaction: For users who prefer detailed discussions and guidance from a financial advisor, the online-only interaction may feel impersonal or insufficient. Age Restrictions: The service may not cater to certain age groups outside of their 18-75 years bracket, particularly seniors looking for new coverage later in life.
Leap Life Review
Overall
Would prefer a whole life policy.