Buying life insurance doesn’t have to be complicated. With Leap Life insurance, you can find excellent term life insurance policies that suit your needs.
These are low-cost policies that will keep your loved ones safe if you die early.
Technology is making it easier than ever to get a life insurance policy, and Leap Life is seeking to be a great online low cost provider.
Here’s what you need to know about applying for life insurance through Leap Life.
- Online term life insurance policies
- Requires no medical exam
- Low cost provider but may not work for everyone
What Is Leap Life?
Leap Life is an insurance agency that issues no-medical-exam, term life insurance policies from some of the largest insurance issuers in the United States.
Applicants can use Leap Life insurance to find the best price on life insurance policies. After applicants fill out an online application, Leap Life compares policies from several different insurers. Then users pay for the policy online.
In addition to selling life insurance, Leap Life 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 someone in your family 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 Leap Life Offer?
Leap Life 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.
First, the level term life insurance policies offered by Leap Life are not convertible. That means you cannot convert some (or all) of the policy to a whole life policy later in your life. Whole life insurance is a bad investment, but it can have some important estate planning functions. If you think you’re going to be very rich one day, you may want to choose a convertible policy.
Another 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.
If you’re young and healthy, you may want to consider annual renewable term life insurance (not available through Leap Life) instead of or in addition to level term life insurance.
Should I Buy Life Insurance Through Leap Life?
Do you have life insurance? If not, you should really think about buying it as young as possible. A 30-year term policy through Leap Life 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 Leap Life as soon as possible.