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Sproutt Life Insurance Review

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1 Minute Review

Sproutt is an independent insurance broker that connects you with a policy and provider to match up with your budget and needs. By combining technology and human touch, Sproutt creates a personal profile for every applicant and matches you with the most suitable coverage. 

This process is entirely online. You have the option to speak to an experienced Sproutt advisor for assistance. It works with top-rated life insurance carriers like AIG, SBLI, Principal and Sagicor Life. 

The company has also developed its Guided Artificial Intelligence Assessment (GAIA) platform to power the Quality of Life Index. The platform evaluates your lifestyle to offer personalized recommendations to help you live a healthier lifestyle.

Best For

  • Numerous policy and carrier options
  • Those who prefer no-exam life insurance
  • Young parents

Pros

  • Works with top-rated life insurance carriers
  • Online process
  • Connects you with the right insurer
  • Diverse policy options

Cons

  • Relatively new company
see how Sproutt Life Insurance compares

Life insurance can help alleviate the financial burden your loved ones face when you pass away. It’s a good idea to seriously consider life insurance if you have people that depend on you for financial support. The right life insurance policy is tailored to your needs, circumstances and lifestyle. Wondering how to buy life insurance? Find out with our Sproutt Life Insurance review.

Who is Sproutt Life Insurance for?

If you think life insurance is an unnecessary expense, remember that expenses can be devastating if your home’s primary breadwinner dies suddenly. Consider the following:

  • Approximately 20% of families in the United States are single-income households.
  • The average funeral costs between $7,000 and $9,000.
  • The average cost of a public 4-year college is $25,290 per year. 
  • Private college costs an average of $50,900 per year.
  • The average mortgage in the U.S. is over $350,000.

It may be a financial stretch to add yet another bill to your existing monthly expenses. But it would be more devastating if something happens to you and your dependents are left without a safety net. 

Consider Sproutt if you’re at one of the following stages in life:

  • Young parents: If you have a toddler or young child to support, life insurance can provide a safety net to meet their needs when you die. A term life insurance policy can last into adulthood, when your children should be stable enough to fend for themselves.
  • Stay-at-home parents: There are huge costs associated with childcare and the household duties you undertake. 
  • First-time home buyers: Your home is a valuable asset and you should consider what would happen if you suddenly die. A life insurance policy can help ensure that your family is able to afford to stay in your home.
  • Self-employed individuals: Freelance and self-employed work doesn’t come with the benefit of coverage through an employer. You’ll need to buy coverage on your own to eliminate the financial burden if you pass on.

Sproutt Life Insurance Products

Sproutt is an insurance aggregator that offers multiple life insurance options through its top-rated carriers. Here are the details of a few of the policies:

  • Term life insurance offers protection for a specific period and temporary circumstances. It makes sense to choose term insurance if your need for insurance coverage will disappear at some point. This could be when you complete mortgage payments or your children graduate from college. Term life insurance can run from 5-year to 30-year policies.
    • Sometimes a term policy can be converted to a permanent policy. It provides the greatest amount of coverage at the lowest initial premium — it’s a good choice if you’re on a tight budget.
  • Permanent life insurance provides lifetime protection and the option to amass cash value on a tax-deferred basis. You can use this cash account to supplement your retirement income or get out of a tight financial spot. Initial premiums are relatively higher than a term policy with a similar face value.
    • Permanent life insurance includes 4 options: whole life, universal life, variable life and variable universal life.
  • No-exam life insurance doesn’t require a medical exam. Coverage is typically capped at $500,000 or $1 million. Approval is fast and easy since there’s little-to-no underwriting.

Sproutt Policy Pricing

You’re likely wondering, “How much life insurance do I need?” There’s no rule of thumb because financial circumstances and goals drive your policy choice and monthly premium cost. The price you pay for your life insurance will depend on:

  • Amount of coverage purchased: Policies with a higher level of coverage come with higher premiums than those with less coverage.
  • Duration of the policy’s term: Longer-term policies have a higher premium and shorter-term options have a lower premium. Whole life insurance typically costs more than term life insurance.
  • Your age: Your life insurance policy will cost less if you are younger.
  • Your health and family history: You may need to provide information about your medical history or undertake a medical exam to obtain a cover. You’ll enjoy lower premiums if your medical exam comes out with better results. A history of specific medical procedures or conditions may raise your premiums.
  • Lifestyle choices: Your insurer may increase your life insurance premiums if it deems certain lifestyle choices risky.

Sproutt maps a variety of insurance companies and products to connect you with insurance coverage to fit your needs. Instant quotes are delivered without listing the specific carrier name. Instead Sproutt ranks potential coverage as Basic, Just Right or Extended. These terms boil down to barebones coverage, moderate coverage or comprehensive coverage.

We ran a few quotes with different profiles to highlight plan options:

For a healthy 30-year-old female nonsmoker with an excellent credit rating and who earns more than $25,000 annually, Sproutt recommends 3 coverage options with 30-year terms:

  • Basic: $100,000 in coverage with $9 monthly premiums
  • Just Right: $200,000 in coverage with $14 monthly premiums
  • Extended: $300,000 with $18 monthly premiums

For a 35-year-old male daily smoker with excellent credit, earning more than $25,000 annually, Sproutt recommends these 30-year term options:

  • Basic: $100,000 coverage with $39 monthly premiums
  • Just Right: $200,000 coverage with $70 monthly premiums
  • Extended: $300,000 coverage with $90 monthly premiums

Just answer a few questions and Sproutt will find the best value plans for your needs, budget and lifestyle.

Sproutt Customer Service

Need assistance? Sproutt’s experienced insurance advisors can provide quick help through multiple channels.

  • hello@sproutt.com
  • Toll-free number 888-786-3917 Monday through Friday, 9 a.m. to 7 p.m. ET
  • Online contact form

Sproutt also has physical offices in New York, Connecticut and Tel Aviv.

Sproutt Claims Support

Sproutt doesn’t sell life insurance. The platform operates as an independent broker. Sproutt connects you with more than 40 life insurance carriers. 

Each carrier has its own claims processes. When you need to file a death benefit, most insurance companies require you to contact claims support with the policy number, the name of the policyholder, his or her date of birth and proof of death. It’s easy to find claims support through most insurance provider websites. 

Sproutt Life Insurance Overall Rating

Sproutt is not an insurance carrier. The platform matches you with the right cheap life insurance companies to find a policy suited to your lifestyle and preferences.

Sproutt intends to make life insurance more accessible, so visit Sproutt online to learn more and compare quotes today. Customer support representatives are on standby if you need assistance obtaining a quote.