Leap Life Insurance Review: Complete Guide

Leap Life, an online life insurance agency that relies on AI, claims to help you find the “perfect fit” policy – without hassle.

We help millions of Americans secure life insurance coverage from the country’s top insurance carriers. 

– Leap Life

Sometimes, you can even skip the medical exam.

Is Leap Life a good fit for you?


Before you apply for coverage with Leap Life or any agency for that matter, it’s best to be knowledgable of the specific products available, application process, and possible downsides.

Here, you will find everything you need to know about Leap Life so that you can make an informed decision.

Table Of Contents

  1. About Leap Life
  2. Products
  3. No Exam
  4. Application Process
  5. Warnings
  6. Next Steps

About Leap Life

leap life

Founded in 2016 by Tom Patterson, Rona Elbaz, and Nir Yeffet, Leap Life is a licensed life insurance agency that utilizes artificial intelligence to help shoppers find affordable coverage.

Leap Life is not a life insurance company.

Rather, they are a life insurance agency representing a number of life insurance products from a number of life insurance companies.

In contrast, most digital life insurance agencies only sell life term insurance products from only one carrier.

Your buying experience with Leap Life will vary depending on the specific product you are applying for.

Often, you will be required to speak to a representative over the phone, as opposed to filling out an online application. Most other online life insurance agencies utilize a completely digital process.

Because they are not a life insurance company, Leap Life does not have an A.M. Best financial rating.

However, they are accredited with the Better Business Bureau, with an A+ Rating.

Leap Life is headquartered in San Francisco, CA.

Leap Life Products

Different types of life insurance are available for purchase.

  • Term – coverage that lasts for a specific period of time, like 20 years.
  • Accidental – coverage that only pays a benefit if death occurs as a result of a qualifying accident.
  • Universal – a form of whole life insurance that includes an investment component.

Leap Life Carriers

Life Insurance CompanyType Of Life InsuranceFinancial Rating
American General (AIG)Term, Universal A (Excellent)
AssurityTermA- (Excellent)
FidelityTerm, Accidental DeathA- (Excellent)
Legal & GeneralTermA+ (Superior)
Lincoln Financial GroupTerm, UniversalA+ (Superior)
Mutual of OmahaAccidental DeathA+ (Superior)
Pacific LifeTermA+ (Superior)
PrincipalTermA+ (Superior)
ProtectiveTerm, UniversalA+ (Superior)
PrudentialTerm, UniversalA+ (Superior)
SBLITermA (Excellent)
TransamericaTermA+ (Superior)

Keep in mind – these products are also available for purchase outside of Leap Life:

  1. AIG
  2. Assurity
  3. Fidelity
  4. Banner (Legal and General)
  5. Lincoln
  6. Mutual of Omaha
  7. Pacific Life
  8. Principal
  9. Protective
  10. Prudential
  11. SBLI
  12. Transamerica

Important – Leap Life only sells a limited number of life insurance products. We recommend utilizing our free instant quote process for a more comprehensive selection of products.


Depending on the product you apply for, Leap Life does offer various riders.

What are riders? Contractual provisions to your life insurance contract that provide helpful features, in addition to the death benefit.

Available riders include:

  • Child Protection
  • Critical Illness
  • Disability Income
  • Family Income Benefit
  • Guaranteed Insurability
  • Long-Term Care
  • Spouse Protection

Be sure to evaluate your needs, and whether a rider(s) is a smart investment.

No Exam

Some of Leap Life’s products skip the medical exam.

Referred to as simplified issue underwriting, depending on your needs and application, it’s possible to buy a no exam life insurance policy.

No exam plans may not be available to every individual or for every policy.

– Leap Life

In general, you have the best odds of qualifying for a policy with no required physical under the following circumstances:

  • Younger than 65
  • Healthy
  • Non-tobacco
  • Financially healthy
  • Need $1 million or less in coverage
  • No criminal history

Application Process

Familiarize yourself with their purchasing process before moving forward.

Step 1

Leap Life provides an in-house quoting tool. Before you are able to see your rate, you will be asked a comprehensive series of questions.


  • Date of birth
  • Height
  • Weight
  • State
  • Gender
  • Nicotine use


On the following page of their questionnaire:

  • Have you ever had a DUI or reckless driving charge?
  • Have you filed for bankruptcy?
  • Do you have any bills in collections or tax liens?
  • Do you have a prior felony conviction?
  • Are you currently taking any prescription medications?

Finally, if you qualify, you will be presented with a quote. Leap Life uses a three-tiered approach:

  1. Basic
  2. Essential
  3. Elite

The different tiers represent different face amounts. For example, you may be offered a range between a $250,000 policy, up to a million-dollar policy.

Or, you have the option to “customize your plan” by selecting your own desired term length and face amount.

If you are healthy, have a sound credit history and have not been convicted of a felony, you may be offered a no medical exam policy.

Important – you must be a U.S. citizen or a permanent resident for more than two years, and between the ages of 18 and 75, to qualify for coverage.

Step 2

Once the online quoting process is complete, one out of the two possible next steps will happen:

  1. Apply online
  2. Apply over the phone

Note – only two carriers represented by Leap Life allow you to apply online – Assurity Term and Pacific Life Term.

You will be directed to the proper channel for submitting your application, depending on your needs.

Step 3

Leap Life, in conjunction with the carrier you applied with, will evaluate and process your application.

This is known as the underwriting process, or risk assessment.

Expect to wait somewhere between days and weeks.

Your wait time will be weeks if you need a medical exam.

In contrast, some no medical exam carriers do offer coverage within minutes, like Sagicor.

Step 4

Accept your new policy (or consider other options with a Leap Life representative).

Once your policy is issued, feel at peace knowing your loved ones have financial protection.

Step 5

Leap Life monitors your coverage, reaching out to you periodically to verify whether or not your needs have changed.


You should know the potential downsides.

Limited Options

Leap Life only represents specific life insurance products from a limited number of carriers.

What this means – your specific life insurance needs may fall outside of the policies offered.

They represent just over 10 carriers and sell only term, accidental, and universal.

In comparison, an independent agent has access to over 50 carriers and numerous products:

  1. Term
  2. Whole
  3. Guaranteed issue
  4. Accidental death and dismemberment


You may qualify for much lower rates elsewhere.

For example, you may be offered an Assurity policy that skips the medical exam. Often, Assurity’s pricing is not competitive.

Return Policy

Leap Life claims to have a “30-day return policy”. However, the promise is somewhat misleading.

Legally, carriers must provide what is known as a “free look” period, in which the policy may be canceled and funds returned.

This feature is not unique to their agency.

Bottom line – be careful to not limit your life insurance options if you apply for coverage through Leap Life.

Next Steps

Regardless of where you apply for a life insurance policy, in order to find the one that best fits your needs, do two things.

  1. Consult an independent agent. You will want someone sitting on the same side of the table as you, so to speak. Verify you are knowledgeable of your life insurance options.
  2. Conduct a needs analysis. Be sure to understand the financial needs of those who depend on you:
    1. Annual income
    2. Years until retirement
    3. Debts (credit card, car loan, student loan)
    4. Monthly expenses (utilities, food)
    5. Mortgage or rent
    6. Charitable giving