Sproutt is not your average life insurance broker.
While other platforms simply match you with the providers likely to offer you the best rates, Sproutt takes it several steps further.
With a tech-savvy approach focused on improving your quality of life just as much as selling life insurance, Sproutt is taking the industry by storm, changing lives and rewarding healthy applicants for their efforts.
Read on to learn how.
Our Sproutt Life Insurance Review: Who is Sproutt?
Aiming to carve itself a unique space in the industry, Sproutt was born out of CEO and co-founder Yoav Shaham’s desire to solve an age-old life insurance problem.
An expert in data-driven solutions, Shaham wanted to change the way applicants’ data influences their life insurance rates.
Over the last two years, he and Sproutt’s team of entrepreneurs have crafted a platform propelled by medical data and artificial intelligence that promises a personalized life insurance experience for each applicant.
While you may not be familiar with Sproutt yet, the company partners with some of the most reputable names in the life insurance industry, like AIG, Principal, Sagicor, North American Company, and more.
Each of their partners has an “A” rating or higher from A.M. Best, information which Sproutt makes readily available for applicants.
In December of 2019, the company received $12 million of Series A funding from Guardian Life, Moneta Capital, and State of Mind Ventures to advance its revolutionary efforts.
Though Sproutt’s history is a short one, its innovative approach, established partners, and successful results point to a promising future.
Is Sproutt Life Insurance Smart Life Insurance?
So how does Sproutt go about getting great rates for applicants and improving their lives?
At the most basic level, Sproutt functions like other insurance brokers, providing a quick way life insurance shoppers to compare quotes and secure coverage with the most affordable carrier.
Applicants are asked to complete a quick questionnaire to paint a picture of their overall health and other risk factors.
Sproutt plugs the information into its database, using an algorithm to pull quotes and match the applicant with his or her top options for their coverage needs.
While the quotes you see on the screen are for term life insurance, Sproutt may be able to help you find permanent life insurance if you speak with one of their agents.
What Makes Sproutt Unique?
Too often, quotes don’t match up with the rates an applicant is actually offered after weeks and weeks of underwriting.
In response, Sproutt’s algorithm anticipates red flags that your risk factors may throw up with each individual provider when you apply for life insurance.
As such, the questionnaire you walk through might look different than the one your spouse completes.
The answers you provide can lead to a different series of targeted questions to help Sproutt find the providers who will truly offer you the best rates.
In addition to assessing your negative risk factors, Sproutt seeks to reward you for positive lifestyle choices like going to the doctor regularly and exercising.
While the ins and outs of Sproutt’s technological approach may be complex, the experience it provides for users couldn’t be simpler to navigate.
The process is quick, intuitive, and informative from start to finish.
While the company’s algorithmic approach is impressive, it isn’t the biggest standout feature you’ll get with Sproutt.
What Else Does Sproutt Have to Offer?
Sproutt’s most unique tool is without a doubt the Quality of Life Index.
Using Guided Artificial Intelligence Assessment, the QL Index aims to help you live longer and live better.
Like Sproutt’s quoting tool, the QL Index is centered around a brief and engaging questionnaire.
Over a span of 5-15 minutes, you answer questions to help Sproutt assess your quality of life across the following areas:
- Emotional health
Based on your answers, Sproutt ranks you as a Rookie, Crafter, Mentor, Master, or Guru, their scale for measuring quality of life.
In addition to the score you receive, Sproutt sends you a detailed report highlighting your strengths along with the areas of life you can improve.
Rather than just pointing out problem areas, Sproutt suggests specific ways to better them, like losing a specific percentage of body weight, quitting smoking, or introducing a few more fruits and vegetables to your daily diet.
These pointers could lead you to a longer and healthier life, along with helping you to snag lower rates on life insurance.
Can Sproutt Actually Save You Money?
Sproutt has the potential to save you money on life insurance in both the long and short term.
If you’re a healthy applicant with youth on your side, you’ll fare the best with Sproutt, as the platform’s technological capabilities could help you to secure extra-low rates on coverage.
But even applicants in poorer health could benefit from working with Sproutt thanks to the Quality of Life Index.
The QL Index pinpoints specific aspects of your lifestyle that could stand between you and better rates.
By implementing the suggestions in your QL Index report, you could lower risk factors like hypertension and cardiovascular disease, ultimately lessening your likelihood of mortality.
These strategies could save you a significant amount of money on life insurance, boosting your quality of life along the way.
Advantages and Disadvantages of Buying Through Sproutt
If you’re debating the merits of purchasing life insurance through Sproutt, here are a few of its most notable pros and cons:
Sproutt has a lot to offer.
Consider the following benefits as you decide whether or not to take a closer look at Sproutt:
- Online application: If you want to skip out on a paper application, phone call, or face-to-face encounter, Sproutt is worth considering. The application is quick and can be completed 100% online, no interaction needed.
- Over 40 Carriers: When you get quotes from Sproutt, you can rest assured knowing you’re getting quotes from dozens of reputable carriers, not just a handful.
- Superior Buying Experience: Sproutt’s user experience is second-to-none. The process of getting quotes and applying for coverage is seamless, streamlined, and simple to navigate.
- Resources: From the QL Index to Sproutt’s informational snippets about each provider it pairs you with, the platform provides the valuable information you need to make an informed life insurance purchase or take the necessary steps to strengthen your health.
Despite all of the benefits listed above, Sproutt isn’t perfect for everyone.
The QL Index can help unhealthy applicants to better themselves before applying for life insurance so they can get approved and get better rates.
However, Sproutt may not be the best at getting these applicants approved for coverage or securing them the lowest rates to begin with.
If you’re in poor health, you might fare better by chatting with an agent or getting quotes from providers especially known for reasonable underwriting.
Though Sproutt is a new name in the life insurance industry, it’s an insurance broker you can depend on, with the support of several reputable providers behind it.
Sproutt aims to position itself at the forefront of the industry, using AI, medical research, and applicants’ data to simplify their life insurance purchase and improve their lives.
In terms of getting quotes and purchasing a policy, Sproutt is comparable to other independent brokers, perhaps giving a slight edge to healthy applicants.
But its QL Index is a unique proposition that warrants a second look, no matter what shape you’re in.
If you’re curious about how your health factors into your life insurance rates and want a quick customized plan for lowering your risk factors, give Sproutt a chance.