- Sproutt is a relatively new life insurance broker that doesn’t issue its own policies.
- Instead, it allows users to compare policies online.
- Although you can apply online, most policies will eventually require you to get an in-person medical exam.
- Sproutt doesn’t currently operate in Florida or Washington state.
What we like:
|Type of Life Insurance||Sproutt is a broker that partners with insurers offering all types of coverage, including term, universal, and whole life|
|A.M. Best Rating||N/A|
|Customer Service||Email: [email protected]|
|Medical Exam Required||For most policies|
A life insurance policy pays out a death benefit to your beneficiaries if you die while the policy is in effect. A term life policy offers coverage for a limited period, while a whole life policy stays in effect as long as you pay premiums.
Buying life insurance can be complicated, but a company like Sproutt could make the process easier. This life insurance broker helps you find a plan for your lifestyle and get quotes from trusted insurers that could provide the coverage you need.
This review will discuss options available through Sproutt so you can determine whether getting covered through this broker is right for you.
In this review:
- Sproutt Life Insurance overview
- How much does Sproutt cost?
- What does Sproutt cover?
- Pros & cons of Sproutt insurance
- What’s required to get insured by Sproutt?
- Sproutt customer service
- Where to find Sproutt alternatives
Sproutt Life Insurance overview
Sproutt is a life insurance broker, so it doesn’t provide insurance. Instead, it connects you to insurance companies that offer policies suited to your needs.
Sproutt was founded only recently, in 2018, by a group of young parents who realized the challenges associated with buying life insurance. Their goal was to change the way consumers shop for coverage to make sure they find the right policy.
Sproutt uses technology to compare policies based on your needs and match you with insurers to find comprehensive protection at an affordable price.
How much does Sproutt cost?
The costs of life insurance coverage vary based on many factors, including the type of policy you’re looking for, where you live, your age and health status, the amount of coverage you need, and the insurance provider you choose.
Here’s an example for a healthy 40-year-old female living in Pennsylvania who does not smoke:
|Coverage amount for a 30-year term life policy||Potential monthly cost|
You can get a personalized quote online from Sproutt after answering a few basic questions about your age, location, health status, height and weight, and beneficiaries.
What does Sproutt cover?
Sproutt does not provide life insurance itself, but instead connects you to insurers based on your needs. A basic term policy purchased through one of these insurers will provide a death benefit to your family if you die while the coverage is in effect.
Sproutt also helps you customize the coverage you buy. For example, you can change the term and amount of coverage. You can also schedule a call with a Sproutt adviser if you are interested in whole life coverage, as whole life policies can be more complicated to buy.
Whole life policies include an investing component as well as the death benefit. Premiums cover the insurance costs and an investment amount, so the policy accrues a cash value. You could cash in your policy, borrow against it, or even sell it depending on the circumstances.
Pros & cons of Sproutt insurance
- Strong customer support: Advisers will walk you through the process of buying insurance coverage.
- Insurance coverage matched to your needs: You can answer a few simple questions and get feedback on what type of policy is right for you and what amount of coverage you need.
- Access to multiple insurers: Because Sproutt is an insurance broker, it helps you discover how much insurance would cost from multiple trusted life insurance providers.
- Sproutt doesn’t provide insurance directly, so you need to apply for and qualify for coverage from the insurer you’re matched with.
- Sproutt is a relatively new company, and there aren’t a lot of customer reviews.
- Sproutt does not operate in Florida or Washington state.
What’s required to get insured by Sproutt?
The requirements you’ll need to fulfill to get covered vary depending on which insurer you’re matched with. In general, most insurers require a medical exam before you can get covered. Insurers also have different rules regarding smoking and age requirements.
Sproutt is also available in only 48 states and Washington, D.C. If you live in Florida or Washington state, the broker cannot match you to insurers for coverage.
How to apply
You can start the process of being matched with an insurer by inputting this information on Sproutt’s website:
- Who you are buying insurance coverage to protect (your beneficiaries).
- Your ZIP code.
- Whether you are male or female.
- Whether you are currently a smoker, have ever smoked, or are a non-smoker.
- Your height and weight.
- Whether you are in excellent health, generally pretty healthy, or in poor health.
Once you’ve been matched with an insurer, you’ll need to complete that insurer’s application process and fulfill its requirements to get covered. In most cases, this means undergoing a medical exam to ensure you’re healthy enough to qualify for coverage.
Sproutt customer service
Sproutt provides online support via chat or email. You can also contact Sproutt via phone to get help exploring coverage options:
Sproutt has an A- rating from the Better Business Bureau and is a BBB-accredited business since August 2019.
Where to find Sproutt alternatives
Many life insurance providers and brokers could provide coverage to protect your family. Check out LendEDU’s ratings of the best life insurance companies or the best term life insurance providers to compare insurance companies based on your needs.