Buying life insurance doesn’t have to be complicated.
LeapLife can help you search, compare, and get recommended personalized life insurance policy quotes to find the best rate.
Technology is making it easier than ever to get a life insurance policy, and LeapLife is an easy way to get matched with personalized life insurance policy quotes.
Here’s what you need to know about searching for life insurance through LeapLife.
Quick Summary
- Online term life insurance policies
- Check out their marketplace of providers
- Low cost provider but may not work for everyone
What Is LeapLife?
LeapLife is a platform that provides recommendations for financial services. As a licensed insurance agency, LeapLife is able to match you with personalized life insurance policy quotes—some of which don’t require a medical exam—from some of the largest insurance carriers in the United States.
Applicants can use LeapLife to find the life insurance policy quotes at the price that works best for their needs. After applicants fill out their simple online application, LeapLife compares policies from their network of life insurance carriers. Once you're matched with personalized policy quotes, just choose the one that you prefer and finalize online (or over the phone depending on carrier and health history).
In addition to matching you with life insurance policy quotes, LeapLife has an excellent insurance needs estimator based on your current income, assets, and life situation. As a risk-averse individual, I thought the needs estimator ran too low, but that’s for each individual to decide.
What If I’m Not Perfectly Healthy?
If you’re not perfectly healthy, you may still qualify for no-medical-exam insurance. My most recent blood pressure test was above the normal range, and I still qualified for insurance. However, the price was nearly 50% higher than my original quote.
If you’ve got some current health issues, or a parent or sibling has significant health issues, you may still qualify for no-medical-exam insurance. That said, you may end up finding a better deal if you go through a medical exam.
What Kind of Life Insurance Does LeapLife Offer?
LeapLife offers a type of life insurance called level term life insurance. This insurance requires even monthly payments over the term of the life insurance policy. No cash value builds up in the policy, so all you’re getting is life insurance. Level term life insurance is one of the most highly recommended forms of life insurance for young people. However, the level term policies have some drawbacks.
A drawback to level term life insurance is that its term expires, possibly at too young of an age. If you’re 25 and you buy a 30-year policy, the policy will expire at age 55. If you aren’t financially independent by 55, you’ll need to find another policy (which could be much more expensive at that age).
If you’re young and healthy, you may want to consider a 40 year policy option, or a more permanent life insurance product that locks your rate in until the age of 90 or older. LeapLife’s licensed life insurance specialists can help you find a personalized policy quote that works for your specific needs, if you’re not seeing what you’d like through their online platform.
LeapLife also offers whole life insurance policies and more over the phone via their licensed life insurance specialists. These specialists are available to chat, free of charge, to help you find a policy that meets your needs.
How Does LeapLife Compare?
LeapLife is one of many online term life insurance companies, but its focus is as a comparison engine.
As always, make sure you shop around and see the list here of the best online life insurance companies.
With that in mind, here's a quick comparison:
Header | |  |  |
|---|---|---|---|
Rating | |||
Min Coverage | $50,000 | $50,000 | $100,000 |
Max Coverage | $10,000,000 | $1,500,000 | $3,000,000 |
Terms | 10, 15, 20, 25, 30 Year | 10, 15, 20, 25, 30 Year | 10, 15, 20, 30 Year |
Types | Term and Others | Only Term | Only Term |
Exam? | Maybe | Not Required | Maybe |
Cell |
Should I Buy Life Insurance Through LeapLife?
Do you have life insurance? If not, you should really think about buying it as young as possible. A 30-year term policy through LeapLife is going to be a low-cost option to keep your family (or future family) safe.
If you decide that level term life insurance is right for you, it makes sense to buy a policy online through LeapLife as soon as possible.
Finally, don't be confused - LeapLife's affiliated company Fiona offers a range of financial products and services, including Loans. Life insurance is simply their latest addition to their platform, which also includes credit cards, savings accounts, and more!
LeapLife Review
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Summary
LeapLife searches, compares, and recommends personalized life insurance policy quotes from their network of online life insurance companies.
Pros
- Easy to compare online term life insurance options
- Simple online application
- Low-cost providers make life insurance affordable
Cons
- Currently only offer level term life insurance online, whole life policies require calling their life insurance specialists
- Policies offered online may not be suited for individuals in certain risk categories, a phone call may be required
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.
