Disclaimer: We are not Sproutt Life Insurance Company. This Sproutt life insurance review is designed to help consumers understand the company and to understand if Sproutt is a company to choose for coverage or not.
This review of Sproutt Life Insurance will take roughly 4 minutes to read start to finish.
We intend on covering the topics that we know consumers typically want to learn about including the potential rates with Sproutt, underwriting guidelines, and if Sproutt Life Insurance is a reliable life insurance company.
Additionally, for those that prefer to skim and scroll quickly for the information they need, we have created easy to navigate links you can use to jump directly to that section of the post that interest you most.
Here’s what we intend on covering in this post:
- Our Sproutt Life Insurance Review
- Sproutt Life Insurance Financial Strength
- BBB Ratings and Complaints
- Products Offered by Sproutt Life
- Who Should Consider Sproutt Life?
- What Makes Sproutt Life Unique?
- Application Process with Sproutt Life
- What If You Have Been Declined With Sproutt
- Cost of Sproutt Life Insurance
- Pros of Sproutt
- Cons of Sproutt
- Final Thoughts
If you are here for a moment and in a rush, we also wanted to provide a quick snapshot of Sproutt Life Insurance.
Here are those details.
Sproutt Life is an online platform designed to make purchasing life insurance quick and easy.
Additionally, Sproutt markets towards young families or new parents who need coverage and protection.
While Sproutt does work with top-rated life insurance companies to underwrite and issue policies, we believe you still have better options you can choose for coverage.
Overall, Sproutt is a company worth running a quote with if you are a healthy individual or prefer to do most of the process online as opposed to meeting with an agent face to face.
We also recommend always comparing rates with several life insurance companies before deciding which company is the best for you and your family.
That was your fast snapshot of the company.
If, however, you need further details and information on other aspects of Sproutt Life Insurance, we recommend reading our full review below.
Here is what you need to know.
Our Sproutt Life Insurance Review
Sproutt Life Insurance is a platform designed to target life insurance marketing towards new parents and young families.
Sproutt partners with several well-known life insurance companies or agencies that include the following:
- Zurich Insurance
- AIG Insurance Company
- Symetra
- Americo
- Security Mutual
- AXA
- Principal
- SBLI
- Sagicor Life
- North American Company
Sproutt would be considered an independent model since it represents several life insurances companies.
This is always a positive when shopping for coverage since you are presented with several options for coverage.
According to Sproutt’s website, they state that they are a team of “innovators” that are young parents that recognize the importance of protecting our families.
In a nutshell, Sproutt Life Insurance is nothing more than a platform used to match consumers with life insurance companies that can underwrite and issue the life insurance policies.
Sproutt itself is not issuing nor underwriting the actual life insurance the consumers are purchasing.
Sproutt Life Insurance Financial Strength
When looking at financial strength numbers for a company like Sproutt, you don’t look at Sproutt itself.
This is due to Sproutt using other life insurance companies to underwrite and issue their life insurance policies.
The life insurance companies that Sproutt currently works with are all top-rated life insurance companies with A or better financial strength ratings.
North American, Principal, AIG, and even Americo are some of the longest standing and most stable life insurance companies in the business.
Overall, this is not an area of concern for consumers considering Sproutt for coverage.
BBB Ratings and Complaints
The BBB can help consumers have an idea of what complaints are being filed against a life insurance company.
For Sproutt, the information is limited with the BBB.
Currently, they have only been accredited since 8/20/2019 and have no complaints on file.
Life Insurance Products Offered by Sproutt Life
Sproutt currently only offers no exam life insurance through its platform.
It starts off by asking you simple demographic information when you walk through the process.
Once selecting the coverage desired and entering the information needed, Sproutt will connect and display options for no exam life insurance with the life insurance companies we discussed previously.
You have the option with Sproutt of choosing the standard term durations for your coverage such as the following:
- 10 Years
- 15 Years
- 20 Years
- 25 Years
- 30 Years
These would be considered level premium term policies which simply means that you lock in your price for the duration of the policy without worrying about premiums increasing over the life of the policy.
Additionally, Sproutt does allow you the option through their platform to either complete the process fully-online or you can click to speak to an experienced advisor.
This is a plus for those consumers who need a bit more guidance selecting the policy they desire or for individuals who don’t quite understand the specifics of life insurance in general.
Who Should Consider Sproutt Life?
Sproutt should be considered for coverage by individuals who desire a quick and easy to purchase life insurance.
Additionally, individuals who prefer to purchase life insurance not requiring a medical exam can benefit working with companies such as Sproutt.
For individuals who have a health history or special circumstances, Sproutt probably isn’t going to be your best choice unless you select to speak to an experienced agent through the process.
Individuals with health conditions often need more tailored made policies with companies that specialize in providing life insurance for individuals with a long list of medical complications or even medications.
What Makes Sproutt Life Unique?
Sproutt compared to other major life insurance companies isn’t necessarily unique.
Their platform for allowing consumers to purchase life insurance quickly and from the comfort of their own home is somewhat unique but plenty of other life insurance companies such as Haven Life, Ethos Life, and even Health IQ offer similar ways to purchase life insurance.
Application Process with Sproutt Life
The application process with Sproutt is straightforward and reasonably quick to complete.
When you visit Sproutt to purchase life insurance online, you will begin by selecting the coverage amount and years you desire after answering a few basic questions related to income and debt.
This helps sprout calculate which amount of life insurance makes the most sense for you.
Following this line of questioning, Sproutt’s platform will begin asking you other personal demographic questions such as the number of dependents you have, marital status and of course, a fair amount of health questions.
Once you make through the process and answer these questions, you can submit your application with Sproutt.
From start to finish, you are only looking at about a ten-minute process to do about 80% of the life insurance application process.
This is something that’s notable and a positive about Sproutt but again, other companies offer the same streamlined process so it’s always best to compare rates with several life insurance companies.
What If You Have Been Declined With Sproutt
Online platforms selling life insurance are great in many ways.
However, when you give up the chance to work with an independent agent, you run the risk of being declined for coverage.
This is strictly since these online platforms often have stringent underwriting guidelines, and you aren’t being presented the full set of companies as options.
If you are someone with unique health concerns, this can certainly cause problems.
If you fall into this specific group of individuals, we highly recommend working with an independent agent and giving yourself a wide variety of life insurance companies as options before beginning the process.
Cost of Sproutt Life Insurance
Overall, Sproutt is a competitively priced life insurance option with limited choices.
When it comes to platforms such as Sproutt, we have other clear favorites we would recommend for coverage first such as Health IQ, Haven Life or Ladder Life Insurance.
These three companies seem to offer the best discounts or have the most competitively priced life insurance available compared to other similar platforms.
Pros of Sproutt
All life insurance companies have unique strengths and weaknesses.
After taking a closer look at Sproutt, this is what we believed to be their most significant strengths.
- Competitively priced for Healthy Individuals
- Clean, Innovative and Easy to Use Platform
- Works with Highly Rated Life Insurance Companies
Cons of Sproutt
Here is what we believed to be the most significant drawbacks of working with Sproutt.
- Limited Product Options
- Not the Best for High-Risk Individuals
- Cheaper Coverage Options Are Available
Final Thoughts
While Sproutt is undoubtedly not a bad company to work with for coverage, we always recommend comparing rates with several life insurance companies before ultimately deciding.
This gives you the best chance at being approved for coverage and gives you the best chances of finding the cheapest rates possible.
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