Frequently Asked Questions
Questions
What is Leap Life?Where is Leap Life available?What makes Leap Life better?Who can get coverage through Leap Life?How does Leap Life work?Do I need life insurance?What is life insurance?What carriers does Leap Life work with?What does life insurance cover?What is "no exam" life insurance?When is the best time to get life insurance?Find out how much life insurance you need.
Calculate Your NeedsWhat is Leap Life?
Where is Leap Life available?
What makes Leap Life better?
Who can get coverage through Leap Life?
How does Leap Life work?
Getting life insurance coverage through Leap Life is easy!
- Use our online quote to see your life insurance rates instantly.
- Apply in minutes. Most healthy individuals can submit applications online* or by phone.
- Live worry-free. If you qualify, you’ll be covered within weeks, sometimes even days.
- After your policy is issued, we monitor your coverage and can adjust as your needs change.
*Our online application offers Assurity Term Life product, if you are interested in other products - give us a call and we’ll walk through your options together.
Call UsDo I need life insurance?
There are certain financial milestones that we all reach in our lives. One of them, of course, is when we buy our first life insurance policy. But how do you know when is the right time to sign on the dotted line for coverage? The answer may vary depending on your financial and family situation, but there are a few good rules of thumb.
For instance, if you are married or own a home, you probably want to consider coverage. If you have kids or other loved ones who rely on you for financial support, a policy provides much-needed peace of mind for their care. You can even use life insurance to leave behind a legacy based on your biggest passions.
What is life insurance?
A life insurance policy is a contract between you and an insurance company. You agree to pay a regular premium. In return, the insurance company agrees to pay out a sum of money to your designated beneficiaries if you die before the policy’s term is up.
Depending on the type of life insurance you want, your policy may work differently. The main types include:
Term Life:
Your policy is for a specific term only, say 10 to 30 years, and your beneficiaries don’t receive any benefit if you outlive the set term. Your premiums can be level, increasing or decreasing throughout the life of the policy.
Accidental Death:
Similar to Term Life, your policy is for a specific term, but only pays a benefit in the event of accidental death, such as a traffic accident. In many cases, death from illness is not covered, so accidental death policies tend to be the least expensive option.
Whole Life:
Your term is for life, and there’s a cash value component from which you may borrow or withdraw in the future. You pay level premiums throughout the life of the policy.
Universal Life:
Similar to Whole Life, this type of life insurance is for life and includes a cash value account. However, some universal life policies offer more flexibility. For example, you can use your cash value account to help pay your premiums.
What carriers does Leap Life work with?
Here are all the carriers we work with:
American General Life Insurance Company, an AIG Company
Offered Products: AG Secure Lifetime GUL III, AG Select A Term
Assurity Life Insurance Company
Offered Products: Term Life
Fidelity Life
Offered Products: Rapid Decision Express Term, Rapid Decision Senior Life, Accidental Death Benefit, Rapid Decision Life Term, Rapid Decision Final Expense
Legal & General
Offered Products: OPTerm
Lincoln Financial Group
Offered Products: Term Accel, Life Elements, LifeCurrent UL, LifeGuarantee UL
Mutual of Omaha Life Insurance
Offered Products: Guaranteed Advantange Accidental Death
Pacific Life
Offered Products: PL Promise Term
Protective
Offered Products: Protective Classic Choice Term, Protective Custom Choice UL, Advantage Choice UL
Prudential, A Pruco Life Insurance Company
Offered Products: Term Essential, PruLife Universal Protector
Transamerica Life Insurance Company
Offered Products: Trendsetter Super, Trendsetter LB
What does life insurance cover?
If illness or injury strikes and you or your family are in desperate need of immediate cash, life insurance can provide the funds. Although it’s an unpleasant thought, should death occur during your working years, life insurance helps cover mortgage or rent payments, utilities, credit card bills, and other debts owed.
Life insurance can also be used to pay funeral costs, unpaid medical bills, college tuition, taxes, and/or everyday living expenses. Another way of saying it: your family can pretty much choose to use the funds anyway they see fit.
What is "no exam" life insurance?
Most traditional life insurance plans require a medical exam, blood work, or both. Getting a “no exam” life insurance plan is just as the name implies – no needles or doctor visits required. Answer a few basic health-related questions over the phone or online and you’re good to go. No exam plans may not be available to every individual or for every policy.
Need help deciding? Give our team a call at (844) 755-5327 or email support@leaplife.com.
When is the best time to get life insurance?
The decision to buy your first life insurance policy can be tricky. Is it really time to buy coverage and, if so, for whom should it provide financial benefits?
There are many times in your life where life insurance should be a consideration. Whether you have a spouse or family, bought a home, or want to leave a lasting legacy for others, a life insurance policy can help you get there. In the end, life insurance is for the living. Who do you want to take care of after you’re gone?
Want to learn more about your life insurance options or get a free quote? Contact us today – our licensed life insurance coaches can walk you through the policies available and even help you calculate the coverage that best suits your needs.
