Leap Life was founded in 2017.
It is another example of an “insurtech” life insurance brokerage agency that claims to use artificial intelligence (Policy Matching AI) technology to compare your health, habits, and hobbies against life insurance company underwriting guidelines in order to match you with the best possible policy from a company that they represent.
Leap Life Insurance Review Claims
According to their advertising claims on social media, Leap Life will protect you from overpaying for your life insurance.
Their research apparently shows that 80% of Americans can pay 50 to 300% more for their life insurance if they pick a wrong company and claim that picking a wrong policy could cost you as much as $50,000 more for your life insurance out of pocket.
Leap Life also claims on their social media advertising that they use leading data science, deep underwriting knowledge, and proprietary technology to match you to the perfect policy at the best life insurance company based on your needs, health history, and financial situation.
Leap Life also claims to charge no fees, make your experience hassle free, and provide a 30 day money back guarantee.
LIFE INSURANCE MADE EASY
Select Your State for an Instant Quote
What Companies Does Leap Life Insurance Represent?
- Assurity Life
- Fidelity Life
- Legal & General (Banner Life)
- Lincoln Financial
- Mutual Of Omaha
- Pacific Life
- Principal Life
- Protective Life
- Prudential Life
WHAT TYPES OF LIFE INSURANCE CAN I BUY FROM LEAP LIFE Insurance?
You have a lot of choices when it comes to which type of life insurance to buy from Leap Life because of all the top life insurance companies they represent. Some of the most common types are...
In addition, each of theses carriers offer additional life insurance riders. Some even offer living benefits in case you become terminally or chronically ill.
Leap Life Insurance Application Requirements
What Information Is Required to Get To Get A Quote From Leap Life’s website?
- Date of birth
- Height & Weight
- Do you use any nicotine products?
- State of residence
- Who will be the policyholder for this Leaplife insurance? Yourself or Someone Else?
- Are you a US Citizen or green card holder? Yes or No
- Have you ever had? Cancer, HIV/AIDS, Chronic Pulmonary Disease, Kidney Disease, Bipolar Disorder, Multiple Sclerosis (MS), Heart Disease, Parkinson’s Disease, Cirrhosis of the Liver, or Stroke.
- Have you ever had a DUI or reckless driving charge?
- Have you ever filed for bankruptcy?
- Do you have any bills in collection or tax liens?
- Do you have a prior felony conviction?
- Are you currently taking prescription medication?
- Do you participate in skydiving, private aviation, rock climbing, car racing?
One nice feature Leap Life offers is there LeapLife needs calculator that helps you determine how much life insurance you may need.
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Tough Questions About LeapLife Insurance
Does LeapLife’s lnsurance leading data science, deep underwriting knowledge, and proprietary policy matching technology really match you to the perfect policy from the best life insurance company based on your needs, health history, financial situation and life expectancy?
NO…NOT IN AN UNBIASED WAY!
If you answer all the questions “NO” you will be presented with Assurity Life as the best choice.
The advantage is you might be able to get approved for this Assurity policy in minutes without a medical exam.
The disadvantage is the top returned resulting Assurity policy they are pushing as best choice is very expensive compared to a fully underwritten policy from other leading companies.
If you answer any of the questions “YES”, you will be required to provided full details to the yes answers.
Depending on the your detailed answers, your age, health, habits, and hobbies, you may NOT be able to purchase an Assurity Life policy right on the spot.
You will be given quotes from one of the other nine companies Leap Life represents listed above and the option to “Request A Call” from one of their licensed agents.
Leap Life Insurance Cost Vs Convenience
There is a possibility you might not qualify for life insurance with any of the nine companies LeapLife Insurance represents.
In this case you will be offered the option to buy Accidental Death policy from United of Omaha.
You can buy and own an Accidental Death policy immediately without any underwriting but it will only pay if the cause of your death is listed as accidental on your death certificate.
Cost VS Convenience – Can Leap Life Insurance really protect you from paying too much for you life insurance?
Take a look at how much extra Leap Life’s #1 recommendation costs when a sample quote for a male, non-smoker, DOB 4/9/1978, in perfect health and answered “NO” to all the questions. for a $500,000 20 Year Term Life Insurance Policy
Non-medical exam – Assurity Life = $55.25/month VS Medical exam – Protective Life = $32.31/month.
THAT’S A COST DIFFERENCE OF $22.94/MONTH x 12 MONTHS x 20 YEARS = $5,505.60!!!! So why is it recommended as your best option?
BEWARE!! EASE & CONVENIENCE WILL COST YOU $$$ THOUSANDS $$$ OF EXTRA DOLLARS FOR YOUR LIFE INSURANCE.
GET YOUR BEST PRICE!
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Leap Life claims appear to be unbiased on the surface BUT they recommend an easy to buy, non-medical life insurance policy that costs thousands more as the #1 recommendation for the sample quote above.
If you are healthy, why would you not take a FREE check up exam given at the convenience of your own home and save yourself $5,505.60!!
LeapLife Offers Convenience
Amazingly, some people will pay this extra money because they don’t “feel like” taking a medical exam.
Let’s be honest, the same people who don’t want to take a medical exam when they purchase life insurance would happily drive 300 miles out of their way if they could save $5,505.60 when buying a new car! Taking a medical exam is NOT a big deal.
It takes about a 30 minutes, it is free, and it is done in the convenience of your own home.
It is quite obvious Leap Life would prefer you opt for convenience OVER best price and buy a non-medical policy.
It is less hassle to get you approved because there is less administrative work for them.
Also the faster you get approved and commit to buying the policy, the faster Leap Life gets paid their commission on the sale.
Without providing any supporting details to back their research, Leap Life’s claims their own research shows that 80% of Americans pay 50 to 300% more for their life insurance if they pick a wrong carrier.
They claim that picking a wrong policy could cost you as much as $50,000 more for your life insurance out of pocket.
WOW!! That would be incredible if true!
Chances are you have shopped around for life insurance.
If you have been paying attention you found the majority of life insurance brokerage websites represents the same EXACT SAME life insurance companies and the EXACT SAME fixed prices.
The fact is life insurance prices are fixed and no life insurance broker can get you a better price than the next. You can get Assurity Life, Lincoln Financial, AIG, Prudential, etc., through ANY life insurance brokerage website and the price will be exactly the SAME.
Therefore it would be very unlikely that 80% of Americans will pay 50 to 300% more for their life insurance.
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Is Leap Life Insurance really hassle free?
If you are healthy and choose to overpay for a more expensive non-medical life insurance policy because you don’t want to take a medical exam, then yes Leap Life is hassle free.
You can buy this type of policy right on their website in 10 minutes. If you don’t qualify, or choose to save money by purchasing a fully underwritten policy, YOU WILL have to speak to a live agent same as everywhere else you would go to buy.
What about LeapLife’s 30 day return policy?
By law, life insurance companies have to offer a “free look” period to allow you time to fully examine your policy risk free.
During this free look period, you can cancel it without penalties and receive a full refund of all premiums paid if you are not happy with your policy. Leap Life’s 30 day “return policy” is NOT UNIQUE.
It is just the free look provisions of the life insurance policy packaged as a “sales guarantee” provided by Leap Life.
LEAP LIFE INSURANCE ALTERNATIVES
Many of the following companies have better products and cheaper prices versus Leap Life Insurance. Some even offer no medical exam policies.
AIG Direct Life Insurance Review
AIG Direct offers online quotes, works with healthy people (plus people in less-than-perfect health), and provides options for coverage you may not find elsewhere.
Banner Life Insurance Review
Banner Life Insurance company is part of Legal & General Group, a London-based multinational financial services company founded in 1836. Banner likes to keep their life insurance offerings simple with just term and universal life insurance.
Bestow Life Insurance Review
Bestow Insurance offers term life insurance for people between the ages of 18 and 60, and in generally good health. You can get coverage online in about 10 minutes starting at $10 a month.
Colonial Life Insurance Review
Colonial Life has one of the oldest reputations in the supplemental benefits industry. They offer life, accident, and illness policies to complement your health insurance plan.
Ethos Life Insurance Review
Ethos is not a life insurance company. They are a licensed producer and third party administrator. Founded in 2017, Ethos has developed an online platform that allows you to apply for life insurance and possibly get instant approval.
Fabric Life Insurance Review
Fabric Life offers affordable life insurance with easy, online quotes and application available 24/7. The company uses algorithms to speed up the underwriting process, with well-qualified applicants getting approved without a medical exam.
Geico Life Insurance Review
GEICO offers life insurance products through its partner, LifeQuotes.com. LifeQuotes.com provides access to dozens of life insurance carriers which makes it easy to get a quote for term, universal or whole life insurance.
Haven Life Insurance Review
Haven Life Insurance Agency, LLC, is a wholly-owned subsidiary of MassMutual and offers an easy and fast online quoting and application process for term life insurance.
Ladder Life Insurance Review
Ladder has developed an online platform that allows you to apply for life insurance and possibly get instant approval. They have teamed up with Fidelity Security Life in 49 states and in New York with Allianz Life Insurance Company of New York.
Lemonade Life Insurance Review
Using AI technology and chatbots, Lemonade offers a completely online experience and lightning fast claims processing through its mobile app.
Matrix Direct Life Insurance Review
Matrix Direct Life Insurance, now AIG Direct, is a life insurance company offering coverage through American General Life Insurance and The United States Life Insurance Company in the City of New York. Most policies require a medical exam, but certain term and whole life products can be purchased without one.
Mutual of Omaha Life Insurance Review
Mutual of Omaha Living Promise Whole Life Insurance has both level and graded benefit plans. Underwriting is simplified issued – and does not require a medical exam.
Nerdwallet Life Insurance Review
When you request a quote from Nerdwallet Life Insurance you will be redirected to another website called Quotacy. Quotacy is backed by Hallett Financial Group, Inc. Hallett Financial Group, Inc is a full service multi-carrier independent insurance brokerage agency.
Pacific Life Insurance Review
Pacific Life is very competitive in the term life insurance and the guaranteed universal life insurance market. Most of the time in the Top 3 when compared to other leading carriers in the life insurance market.
Protective Life Insurance Review
Protective Life's vast number of products which offer some of the most competitive prices in the market is what sets them apart from the competition. For example, they have a competitively priced 35 and 40 year level term that most companies don't offer.
Prudential Life Insurance Review
Prudential Life Insurance is one of the largest life insurance companies in the US. They offer term life and universal life insurance policies that let you add extra features to customize your coverage.
Sagicor Life Insurance Review
Sagicor is a full-service life insurance company, offering term, whole life, and universal life through SagicorNow Accelewriting no medical exam underwriting for qualified applicants.
SelectQuote Life Insurance Review
Since 1985, SelectQuote has saturated the advertising market with multiple TV, radio, & print adds per day. This is the reason they are the #1 direct to consumer insurance agency. BUT....
Transamerica Life Insurance Review
Transamerica Life Insurance Company is a leader in the life insurance industry. They offer a variety of competitively priced life insurance products and riders so you can customize your policy
TruStage Life Insurance Review
TruStage is convenient and is a solid company, but is a lot more expensive compared to other online life insurance providers, limits coverage to $100,000, and only offers 5-year terms.
FINAL THOUGHTS LEAP LIFE INSURANCE REVIEW
You’ve got to ask yourself…ARE THEY MATCHING YOU WITH YOUR BEST OPTION OR WITH THEIRS?
Leap Life’s website looks new and different.
But the fact is they represent the same life insurance companies at the same fixed prices as on this and other leading life insurance brokerage websites.
It is always better, to speak to an experienced life insurance broker who represents all the top life insurance companies and has years of life insurance product and underwriting experience, versus relying on a fancy website that uses artificial intelligence to sell you an expensive non-medical policies as your best option.