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Life insurance has never been easier thanks to a new breed of fintech companies like Sproutt Life Insurance.
Others in good health as well as those who may have difficulty obtaining affordable health insurance can both benefit from this plan’s availability. However, the website’s primary focus is on term life insurance for now.
- How to get a quote from Sproutt life insurance
- Types of life insurance coverage does Sproutt offer
- What’s a graded death benefit policy?
- What riders can I add to my Sproutt life insurance policy?
- Sproutt life insurance reviews and complaints
How to get a quote from Sproutt life insurance
If you’re interested in term life insurance coverage, they may be purchased online. The application consists of 20 simple questions and is completed in around 10 minutes.
You will be asked to provide the following information:
- Personal information and how to get in contact with you are included.
- The number of individuals that rely on you for their survival.
- Include any harmful pursuits that you engage in on a regular basis. It’s possible that your medical history isn’t very long.
- Infractions that have been reported in the recent past.
- Felony convictions
Since it generates quotes from many life insurance carriers, the system recommends the best option for you. Changes to your coverage and related charges can be made at any point in time. To go on to the next step in the process, you must be satisfied.
If you’re interested in permanent or simplified issue insurance, you’ll need to contact a representative. Licensed insurance specialists may be reached at 888-786-3917 from 9 a.m. to 7 p.m. ET every day of the week.
Types of life insurance coverage does Sproutt offer
Sproutt does not offer life insurance. It is possible to find a provider and policy that fit your needs while still being cheap through an independent broker. One of the company’s partners is AIG, Principal, SBLI, and Sagicor Life, among many others.
According on the insurer you are matched with, you may receive a quote for the following types of coverage:
- A certain amount of time
- Without medical examinations, such as ensured, simplified, final expense and graded death benefit plans are accessible for the rest of my life
- The average lifespan of a human being on Earth fluctuates.
What’s a graded death benefit policy?
As with guaranteed issue life insurance, you get more coverage for less money with this product.
Graded death benefit coverage requires only a few health questions to apply. The date of your death will be compared to the date you purchased your insurance to determine how much of a death benefit you would get.
As a rule, payouts are rated as follows:
- If you die during the first year of acquiring the policy, your beneficiaries will get a quarter of the death benefit.
- If you die in the second year, your heirs will get half of your death benefit.
- If you die in the third or later year of the plan’s life, your beneficiaries will get the entire death benefit.
What riders can I add to my Sproutt life insurance policy?
It all comes down to who you choose to insure your life. Sproutt’s technology allows you to add riders to your insurance policy when you apply.
Common riders that you might be able to use include the ones listed below:
- Waiver-of-premium rider
- Accelerated death benefit rider
- Accidental death benefit rider
- Critical illness benefit rider
- Disability income benefit rider
- Child rider
- Term insurance rider
Sproutt life insurance reviews and complaints
Since Sproutt was accredited by the Better Business Bureau (BBB) in 2019, there have been no complaints. Since April 2021, the BBB has received no complaints or reviews of any kind.
Based on 340 customer reviews on Trustpilot, the company is rated at 4 out of 5 stars with many customers appreciating the simple purchase procedure and the quick response time of the staff.
To see what other provider has to offer, check out SoFi Life Insurance Review.