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 it can benefit you.
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 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.
It is advisable to take your time to understand each recommended carrier before you commit to doing business with any of them.
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
- Long-Term Care Rider
- Spouse Protection Rider
Carrying a rider that you don’t need can add unnecessary cost 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.
Leap Life Carriers
Leap Life gives you the opportunity to compare policies from some of the best life insurance providers in the country, including:
|
Carrier Name |
Offered Products |
|
American General Life Insurance Company, an AIG Company |
|
|
Legal & General Life Insurance Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
Would prefer a whole life policy.