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LeapLife

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LAST UPDATED: September 28th, 2020

LeapLife is an insuretech company that allows you to compare policy options from multiple insurance companies to find a good fit. LeapLife offers an online application as well as a phone application process, which makes the life insurance shopping and application process convenient.

LeapLife offers policies from financially strong insurers, which makes it a trusted choice for considering life insurance options.

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The Good

  • Quick Online Application
  • Policies from Financially Strong Insurers
  • Online Needs Calculator
  • Acquired by Even Financial

Quick Online Application

Through LeapLife, you can quickly view life insurance policy options after answering a few questions. Most applicants in good health will also be able to apply for a policy online. You can also apply over the phone.

Many insuretech companies offer similar application processes, so LeapLife is competitive.

Policies from Financially Strong Insurers

LeapLife offers policies from top-rated life insurers, including Mutual of Omaha, Legal & General, and Pacific Life. Top financial strength ratings indicate that an insurer is financially stable and will likely be able to pay claims.

Life insurance death benefits are usually a large lump sum payment, so you want to pick a financially dependable insurer. LeapLife is a trusted company because policies sold on the platform are from financially strong insurance companies.

Online Needs Calculator

Typically, life insurance applicants work with a life insurance agent to determine how much coverage to buy and evaluate policy options. If you prefer a do-it-yourself approach, you can use LeapLife's online calculator to determine how much coverage you need from a life insurance policy.

Acquired by Even Financial

Even Financial is a tool that helps people search and compare financial services. It also makes recommendations for financial services. Since Even Financial specializes in finance technology to connect people to the best financial services, this acquisition speaks to the quality of LeapLife's technology.

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The Bad

  • Limited Policies
  • Minimal Customer Insight

Limited Policies

LeapLife has many advantages when it comes to a convenient application process. However, it is limited in its policy offerings. You can buy term life, universal life, or final expense policies through LeapLife. 

If you're interested in joint or survivorship policies, you'll need to look at another company.

Although offering online applications for permanent life insurance makes LeapLife stand out from other insuretech companies, your policy options are limited to the insurers LeapLife works with. 

Online applicants through LeapLife can only view Assurity Term Life and Pacific Term Life policy options. You'll have to call if you'd like to consider policies from more companies.

Some competitors offer policies from a larger number of insurers than LeapLife does with an online application. Others only offer branded life insurance policies backed by an established life insurer. LeapLife falls in between these competitive groups by offering more options than some insuretech and fewer options than others.

Minimal Customer Insight

LeapLife does not have many customer reviews on Best Company. The insufficient number of reviews means no conclusions can be drawn about the customer experience with LeapLife.

However, LeapLife's website speaks to its professionalism. Its acquisition by Even Financial also speaks to the quality of LeapLife's platform.

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The Bottom Line

LeapLife is a great choice if you want to consider policies from multiple insurers or apply for life insurance online. If you're interested in term life, universal life, or final expense insurance, LeapLife can connect you with insurers offering those policies.

While LeapLife has a good selection of insurers with different insurance policies, some competitors allow you to consider options from more insurance companies. 

Due to limited customer insight, a full recommendation cannot be made. However, LeapLife allows you to consider a good selection of policies from top-rated insurers and conveniently apply online or by phone.

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