The vast majority of Americans need life insurance. But with so many different insurance policies and providers, how can you find the right life insurance policy for you and your family?

Sproutt Insurance is trying to help by putting a unique spin on the insurance application process.

Sproutt doesn’t sell its own insurance policies – they’re an online marketplace that uses technology to match you with the right insurance provider. In minutes, you can complete a brief application and get a quote from one of their participating life insurance companies.

But is dealing with Sproutt as easy as they make it sound? And is there a benefit to dealing with a marketplace like Sproutt versus going through an individual provider?

I’ll cover this and more in this Sproutt Life Insurance Review.

What Is Sproutt?

Sproutt is an insurance fintech launched in 2018 under the name, Aktibo. They have their headquarters in Hartford, Connecticut, with offices in New York City and Tel Aviv.

Sproutt Life isn’t a direct provider of life insurance but a broker providing an AI-powered online life insurance marketplace.

They offer policies from nearly a dozen insurance companies, a list that includes some of the best-known brands in the industry. Sproutt is available to customers in all 50 states and the District of Columbia.

How Sproutt Works

Sproutt differs from traditional life insurers by using an AI-powered Quality of Life Index (QLI) to assess an individual’s healthy lifestyle behaviors rather than focusing on negative elements.

Sproutt says their self-serve digital process usually requires no medical exam, phone calls, or appointments to obtain life insurance coverage.

Sproutt is free to use, and the company provides live customer support. They have an A+ rating with the Better Business Bureau.

Key Features

• AI-powered online life insurance marketplace.

• Work with almost a dozen insurance companies across all 50 states.

• Quality of Life Index (QLI)takes into account your overall health.

• The QLI matches you with an insurance provider and policy that will be the best overall fit.

• Complete an application within 15 minutes.

• Customer support is available during business hours.

Sproutt Life Insurance Quality of Life Index

The QLI index is at the heart of Sproutt Life Insurance and the key to using their website.

The index uses an algorithm to assess your lifestyle and then provides a personalized set of suggestions, recommendations, and references based on the latest health information available.

The algorithm is called the Guided Artificial Intelligence Assessment (GAIA). To benefit from the index, you’ll need to complete a 15-minute assessment, a process I will cover in more detail further down.

The Index measures five areas of your life – referred to as pillars – to indicate your overall state of health and well-being:

• Movement. In a nutshell, this category assesses the amount of exercise you get.

• Sleep. Used to measure if you are getting an adequate amount of sleep.

• Emotional health. There’s growing evidence of a connection between strong relationships and longevity.

• Nutrition. This category is all about food and diet.

• Balance. It incorporates the other four pillars and also adds an evaluation of your sense of purpose in your life.

Once you’ve completed the QLI Assessment, Sproutt will match you with the best insurance company to fit your profile. This is expected to maximize the likelihood of approval, along with the most favorable premium rate.

Who Is Sproutt Life Insurance Best Suited For?

Sproutt Life Insurance is an excellent choice for applicants who are:

• Under 50 in good or excellent health (they go to age 60).

• In good or excellent health.

• Actively focused on maintaining their health, as determined by the Quality of Life Index Assessment.

• Looking for term life insurance versus whole life.

• Need a life insurance policy quickly.

• Prefer a life insurance policy without the need for a medical exam.

• Prefer the speed and convenience of an all-online application process.

Obtain a Quote from Sproutt Today

Types of Insurance Offered by Sproutt Life Insurance

According to their website, Sproutt offers no-exam life insurance, guaranteed issue life insurance, whole life insurance, critical illness insurance, and universal life insurance – all in addition to term life insurance.

Sproutt’s term life insurance offerings range from 10 years to 3 years. The minimum policy amount is $50,000 but can go as high as $3 million. All other details of the term policies offered are based on the guidelines of the individual insurance companies providing the policies.

As an online life insurance “fintech,” Sproutt undoubtedly targets younger applicants (at least under 60) and in good or excellent health. Though they do offer policies for those who are in less-than-perfect health, it is possible that your application will be denied.

Is Sproutt Life Insurance Legit?

As mentioned, Sproutt has a Better Business Bureau rating of A+ (on a scale of A+ to F). although it is not BBB-accredited.

Though we typically obtain the financial strength rating of insurance companies from A.M. Best, this rating is not available for Sproutt. The company is an online insurance broker and not a direct provider. A.M. Best does not provide financial strength ratings for insurance brokers.  

How Do Customers Rate Sproutt?

Sproutt scores 4.7 out of five stars with Trustpilot. The score is based on 423 reviews, with 89% ranking the company as “excellent” and 8% as “great.”

While the negative reviews were minimal (only 2% 1-star), I did review the comments to see if I could identify recurring themes. Most of the negative reviews were due to a lack of responsiveness and reps not getting back to the clients promptly.

One thing to note, the Sproutt team had responded on Trustpilot to almost all of the negative comments with a promise to follow up.

We could not obtain user ratings from Google Play or The App Store since Sproutt does not have a mobile app.

Sproutt Life Alternatives

When purchasing life insurance, always obtain quotes from multiple companies before making your choice. Even though the products are generally very similar, premiums between different providers can vary considerably.

For a quick comparison to Sproutt Life, I’ve included three companies – Fabric Life, Bestow, Haven Life, and Ladder Life – in a side-by-side comparison.

As you can see from the table, the products offered by each of the four companies closely match one another. One advantage Sproutt Life has is that it is an online life insurance marketplace.

With a single application, you can get quotes from multiple providers – including some of the biggest in the industry.

How to Use Sproutt to Shop for Life Insurance

The application process for Sproutt starts with completing the Quality of Life assessment. It will take about 15 minutes to complete the assessment online.

That process can be accessed from the Quality of Life page, where you can click the green bubble that says “Check your QL Index.”

You’ll be asked to provide the following: your name (you’ll only need to provide your first name), age bracket, gender, and marital status.

Once you provide that information, you’ll be asked the following questions:

• When it comes to taking care of your life, what describes you best? The answers are multiple-choice and will appear as follows:

• Please select your choice of a healthy breakfast.

• For a healthier meal, you should…

• Which of the following is true regarding a sufficient intake of protein:

• Should I eat whole grains?

• To maintain a healthy weight, should I reduce my caloric intake?

• How many hours of physical activity do you do during a normal week?

• What type of activities do you do? (Aga n, you’ll be supplied with a list to choose from.)

• Do you track your physical activities?

• Over the past week, on average, how many steps per day did you take? (determined by a device, like a Fitbit.)

• Do you know how many hours an adult should sleep at night?

• How many hours do you sleep on average?

• Do you use a sleep-tracking device?

• Do you know in which sleep phases the majority of dreams occur?

• Do you know what a circadian rhythm is?

• Do you have trouble falling asleep?

• Do you consume alcoholic beverages to help you fall asleep?

• Do you own a pet?

• Do you sometimes feel that your relationships are not meaningful?

• How many people in your life can you confide in?

• Do you feel hopeless, stressed, or depressed?

• Have you tried stress-reducing techniques such as breathing, meditation, etc.?

• As I get older, things are… much better, somewhat better, same, worse, much worse.

• Do you believe you’ll live past… 60, 70, 80, 90, 120.

Once you’ve completed the questions, the following screen will appear, requiring you to enter your email and submit (the results are blurred, pending receipt of the emailed version):

The next screen will provide your QL Index. I was classified as a “Master,” one of five categories.

Once you click “Check your eligibility,” you’ll be brought to the application process, with your QL Index being part of the recommendations you’ll be provided.

Unfortunately, when I completed the QL Index assessment, Sproutt’s system was undergoing a problem, so I got no immediate life insurance quotes.

But the important takeaway is that up to this point, I only completed the assessment – which is a requirement.

For the application, additional questions will be asked. Those include general questions, like family status, beneficiaries, address, date of birth, a health self-assessment, and other general questions.

Once you complete that information, Sproutt will make a policy recommendation based on the answers to your questions.

Once again, Sproutt Life does not provide the actual policies (it’s an online life insurance marketplace). The participating life insurance companies will offer the policies on the platform.

Once you select the plan you like, the direct provider will likely have additional questions, and you’ll need to complete the application process through that company.

Obtain a Quote from Sproutt Today

How to Save Money on Life Insurance

No matter where you apply for life insurance, there are seven strategies you can use to save money in the process:

• Buy term life insurance vs. whole life. Whole life insurance is far more expensive than the equivalent term coverage. Go with term insurance and get a larger policy at a lower premium.

• Apply when you’re in good health. No single factor will have a greater impact on your premium – or even if you’ll be approved – than the condition of your health. That’s why it’s important to apply when your health is good.

• Maintain good health habits. Exercise regularly, eat a balanced diet, and see your doctor regularly.

• Maintain clean credit and good driving history. Insurance companies also check credit histories and driving records. The cleaner they are, the better your chance at a low premium.

• Choose a shorter term. If you’re going with term insurance, the premiums are lower on shorter terms. For example, a ten-year policy will be less expensive than a 20-year policy.

• Shop around. Never take a policy from the first provider that gives you a quote. Get three or four, then make your choice.

• Don’t wait! Many people put off buying life insurance until “later.” But because age is a major factor in determining premiums – and you’ll never be younger than you are right now – now is the time to apply for coverage.

Obtain a Quote from Sproutt Today

Sproutt Life Insurance Review: Final Thoughts

Sproutt is an excellent choice if you’re beginning your search for life insurance. Because it’s an online life marketplace, you can get quotes from several major insurance companies with a single application.

Live customer support is a value add, given that Sproutt is an all-online platform. And if you’re proactive about your health, Sproutt captures that with their Quality of Life Index. It can help you track your progress and make improvements where needed.

But it’s also important to realize that, as an online life insurance source, Sproutt does focus its business on younger, healthier applicants.

If you’re older or have a significant health condition, you may still be able to get a policy through Sproutt, but you may be better served by working with an independent life insurance broker.

Otherwise, consider Sproutt if you’re looking to buy life insurance.

How We Review Insurance Companies: 

Good Financial Cents systematically reviews U.S. insurance companies, emphasizing policy offerings, customer experiences, and overall reliability.

Our goal is to present a balanced and comprehensive perspective to potential policyholders. Editorial transparency remains a cornerstone of our approach.

We actively collect information from insurance companies and place significant weight on customer feedback. By integrating this feedback with our research, we can offer a well-rounded evaluation.

Each company is then rated based on multiple criteria, resulting in a star rating from one to five.

For a deeper understanding of the criteria we use to rate insurance companies and our evaluation approach, please refer to our editorial guidelines and full disclaimer. 

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Sprout Life Insurance Review

Product Name: Sprout Life Insurance

Product Description: Sprout Life Insurance is a life insurance policy that provides financial coverage to individuals in the event of their death. It can cover funeral costs, medical bills, and other costs associated with end-of-life expenses. It also provides beneficiaries with a lump sum payment that can help them cover living expenses in the wake of their loved one’s passing.

• [ Learn More Here ]

Summary of Sprout Life Insurance

Sprout Life Insurance is a life insurance company that provides coverage options for individuals and families. The company offers both term and permanent life insurance policies, allowing customers to choose the coverage that best fits their needs and budget. In addition to life insurance, Sprout also offers a wellness program that provides discounts on gym memberships and healthy living products, further emphasizing their commitment to the health and well-being of their customers.

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Overall

4.7

Pros

•  Personalized attention: Sprout Life Insurance may offer more personalized attention and customer service, as they are a smaller company and may have fewer customers to serve.
• Innovative offerings: Sprout Life Insurance may offer innovative life insurance options and added benefits, such as their wellness program, that larger insurance companies may not offer.
• Flexibility: As a smaller company, Sprout Life Insurance may be more flexible and responsive to customer needs, compared to larger insurance companies with more bureaucratic processes.

Cons

• Limited coverage options: Sprout Life Insurance may have limited coverage options compared to larger insurance companies, which may have a wider range of offerings.
• Less financial stability: Sprout Life Insurance may have less financial stability compared to larger insurance companies, which may have more resources and a longer track record.
• Less brand recognition: Sprout Life Insurance may have less brand recognition compared to larger insurance companies, which may have a longer history and more established reputation. 

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The post Sproutt Life Insurance Review: Is it Legit? appeared first on Good Financial Cents®.

When you’re a teenager or a young adult, buying car insurance is rarely fun or affordable. This is true for anyone trying to add coverage to a parent’s existing policy, but it’s even more true for young adults who need to find cheap car insurance on their own.

That said, the best car insurance for young drivers offers quality protection for the entire household without breaking the bank. If you’re looking for the best cheap car insurance for young adults, however, you’ll need to compare policies and plans while also checking for discounts you might qualify for.

In the meantime, you’ll want to see which types of auto insurance you really need and which ones you can go without.

We compared more than 20 of the best auto insurance companies to help you find the best car insurance for young drivers in 2024. If you’re ready to buy a policy or begin comparing all your options, you can stop looking and start your search here.

Our Picks for Best Car Insurance for Younger Drivers

• Nationwide: Best for Teen Drivers

• American Family: Best for Usage-Based Discounts

• Allstate: Best for Good Students

• State Farm: Best for Safe Vehicle Discounts

• Geico: Best Discounts Overall

• USAA: Best for Military

The reviews below can help you learn more about the best car insurance companies that made our ranking, including the policy options and special programs for young drivers they offer.

Nationwide offers an array of coverage options for teenagers and young drivers, as well as discounts that can make coverage considerably more affordable. Young drivers can purchase insurance with liability-only coverage, but they can also opt for collision coverage, comprehensive coverage, and even rental car reimbursement coverage that kicks in when a car is in the shop getting repairs after an accident occurs.

Accident forgiveness is another optional feature for young drivers. This add-on coverage ensures that a teen or young driver’s car insurance premiums won’t surge right away after their first at-fault automobile accident occurs.

Major discounts available from Nationwide for teens and young drivers include:

• Good Student Discount: If you’re a full-time student and a Nationwide customer, you can get a discount on your premiums if you maintain a grade point average of ‘B’ or better.

• Employer-Sponsored Plan Discount: If you work for an employer who participates in a Nationwide discount plan, you can get a break there.

• Multi-Policy Discount: You can also get a discount by bundling your auto insurance with other policies, such as renter’s insurance.

• SmartRide Discount: Nationwide also offers a discount if you meet safe driver criteria as determined by the use of a plug-in device. It’s a usage-based insurance program that enables you to earn a discount for safe driving.

American Family Insurance is another highly-rated insurance company that extends coverage to young drivers and teenagers who are being added to a family plan. This company offers all the basic insurance coverage you would expect, from liability coverage to collision, comprehensive coverage, uninsured and underinsured motorist coverage, and rental car reimbursement. They also offer optional emergency roadside coverage, which can be accessed with ease using the MyAmFam mobile app.

This company also offers a Safe Driver Discount Program for Teens, which monitors your teen’s driving habits with the help of a mobile app. Once a teenager drives at least 3,000 miles with the app on, families can qualify for a 10% discount on their car insurance premiums.

Other notable discounts for young drivers include:

• Away at School Discount: This discount can apply when a young driver is away at college or university and their vehicle remains parked at home.

• Good Student Discount: Students with good grades can pay less for auto insurance premiums overall.

• Multi-Product Discount: Pay less for car insurance premiums when you bundle multiple policies with American Family.

• Young Volunteer Discount: This discount can apply when a driver under the age of 25 completes 40 hours of volunteer work per year for a non-profit.

Allstate is another insurer that is known for its Accident Forgiveness program. While joining this program doesn’t help you lower your premium at first, you won’t see your monthly auto insurance costs surge after your first accident. In the meantime, Allstate also has a Safe Driving Bonus program. If you add this feature to your policy, you get a check in the mail every six months if you don’t have an accident. This is Allstate’s way of incentivizing safe driving habits.

Also, note that Allstate extends good student discounts for drivers who are under the age of 25. This means high school students and teenagers with good grades can help their parents secure lower car insurance rates, but it also means young adults in college can get a discount on their own policies.

Allstate’s best car insurance discounts for young drivers include the following:

• Allstate Drivewise Discount: Young drivers who install a device on their vehicle and let Allstate monitor their driving habits can pay less for auto insurance overall.

• Multi-Policy Discount: A multi-policy discount can apply when young drivers purchase multiple policies from Allstate, such as car insurance bundled with a renter’s insurance policy.

• Responsible Payer Discount: If you pay your premiums on time for an entire year, you can get a responsible payer discount the next year you purchase coverage.

• Smart Student Discount: This discount applies to drivers under the age of 25 who meet one of three options, including getting good grades or completing a teen driver education program.

State Farm offers a program for young drivers under the age of 25, which is called Steer Clear. This program requires drivers to use a mobile app that monitors their driving, and it is only available to young drivers who don’t have any at-fault accidents or moving violations within the last three years. Those who qualify for this program can save up to 20% off their auto insurance premiums when they avoid accidents and drive safely over the long run.

Not only does State Farm make it easy to add a young driver to a household car insurance policy, but they also offer affordable premiums for young drivers who are out on their own. Additionally, this company offers an array of discounts that relate to vehicle safety instead of the age of the driver, including passive restraint discounts and discounts for having an eligible anti-theft device installed on a vehicle.

Other discounts for young drivers offered by State Farm include:

• Drive Safe & Save Discount: This program uses information from your smartphone or your vehicle’s OnStar or SYNC communication service to calculate your discount.

• Defensive Driving Course Discount: Young drivers who complete a defensive driving course can receive 10% to 15% off their annual car insurance premiums.

• Student Away at School Discount: If you are a student under the age of 25 and you are living away from home while enrolled in school, you might qualify for this discount.

• Good Student Discount: This discount can cut your auto insurance premiums by as much as 25%, but you do have to post good grades to qualify.

Geico is one of the most price-competitive auto insurers on the market, and it offers quite a few discounts and programs for young drivers. For starters, this provider offers a family pricing program that lets young drivers get the same policy rates as experienced drivers within the same family. This means young drivers get the chance to establish a good driving record without paying high premiums that are typical for new drivers.

Geico also offers an Accident Forgiveness Program for drivers of all ages. This discount applies to only one member of the family on a single policy, but it helps prevent surging premiums in the event of an at-fault accident.

Other popular discounts from GEICO include the following:

• Good Driver Program: Young drivers can save up to 22% off car insurance premiums with the Five-Year Accident-Free Good Driver Discount.

• Government Employee Discount: This discount is valid with participating employers, yet it’s also available to federal employees. It can reduce your premium by up to 12%.

• Military Discount: Save up to 15% off your premiums if you’re a member of the military.

• Good Student Discount: This discount is available to drivers between the ages of 16 and 24 who are full-time students with a “B” average or better.

If you’re a member of the military or an eligible family member, you may also qualify for auto insurance through USAA. This company is one of the highest-rated insurance companies across the board, and they offer an array of programs and discounts for young drivers and teenage drivers alike.

As an example, USAA offers a program called SafePilot that can help anyone save up to 30% off their car insurance premiums if they complete a safe driving program and live in an eligible state. Families who have a teen on their policy can also help their kids save when they leave the next. In fact, adult children of USAA car insurance customers qualify for a 10% family discount.

Other USAA discounts for young drivers are listed below:

• Driver Training Discount: It’s possible to save on car insurance premiums if you are under the age of 21 and willing to complete a driver training or defensive driving course.

• Safe Driving Discount: You can reduce your premiums by maintaining a good driving record for at least five years.

• Good Student Discount: Young drivers get a discount with good grades at school, and students from ages 16 to 25 may be eligible.

• Family Discount: Pay less for auto insurance when you add a teenager or young adult to an existing family policy.

Car Insurance Guide

Before you settle on a new car insurance policy, you should understand the ins and outs of auto insurance for young drivers. For example, you’ll want to research the different types of car insurance, as well as the average cost of car insurance based on the policy you buy, where you live, and other factors.

How Does Car Insurance for Younger Drivers Work?

Car insurance for young drivers works the same as coverage for anyone else, yet this kind of insurance protection tends to be more expensive overall. The fact is, young drivers have considerably less experience on the road, and they consistently have accidents at a much higher rate as a result. According to the CDC on average 18 teens die every day in fatal car crashes. The Insurance Institute for Highway Safety reports that teens aged 16-19 are 3x more likely to get in a crash compared to those 20 years or older.

To account for this increased level of risk, car insurance companies charge higher premiums for the same types of coverage.

Generally speaking, however, car insurance rates tend to go down once individuals turn at least 25 with a safe driving record. Getting married can also help lower car insurance premiums considerably, as can becoming a homeowner, having a good credit score, and achieving other important life milestones.

As we noted already, the average premium for young drivers varies depending on where you live, whether you remain on a parent’s policy and other factors. However, a recent report from The Zebra shows that some age groups tend to pay much higher premiums overall, including some specific age groups below 25.

According to 2023 figures released in the study, drivers in the “teen” age group pay the most, with a typical 16-year-old driver paying an average of $6,034 per year for their own car insurance policy. Meanwhile, the average annual cost for all teenagers works out to $4,796 annually.

From there, each age group gets a better deal on auto insurance premiums until drivers reach their 60s and prices begin to tick up. The chart below shows the average car insurance premium by age group in 2023:

How to Lower Car Insurance Costs

Whether you decide to lease or buy a car or you’re currently driving an old beater while you wait for the best time to buy a new car, there are plenty of steps you can take to score more affordable car insurance premiums. Some of the best strategies you can use to save money are detailed below:

• Avoid accidents and moving violations. Getting into an accident or getting a ticket (or several) can cause your car insurance rates to surge higher than they already are. To get the cheapest car insurance possible, you’ll need to maintain a safe driving record for the long haul.

• Be willing to take driving courses. You may be able to save money on car insurance if you complete a teen driver education course or a defensive driving course. Make sure to check with your car insurance company to see which of these options can help you score a discount.

• Check for all possible discounts. You may qualify for car insurance discounts you don’t even know about, but you’ll never know unless you check. See whether your insurance company offers vehicle safety discounts, bundled policy discounts, loyalty discounts, or other discounts that can help you save money.

• Get good grades. If you’re a college student and you can maintain a good grade point average, chances are good you can score a discount on your car insurance premiums. For the most part, good grade discounts go to those who can maintain a GPA of 3.0 or better (or equivalent).

• Stay on your parent’s car insurance plan as much as possible. Generally speaking, car insurance rates for young adults are lower when they’re added to an existing policy. With that in mind, it can help to put off buying your own car insurance policy for as long as you can.

These are just some of the auto insurance discounts for students, but there might be others depending on the company you choose for coverage. When you shop around for your auto insurance policy, make sure to ask which discounts you might be eligible for.

How We Found the Best Car Insurance for Younger Drivers

To find the best car insurance companies on the market today, we looked for providers who have an ‘A’ rating or better for financial strength from A.M. Best.

We also looked for companies that offer highly-rated mobile apps, as well as those that advertise special programs and discounts for teen drivers.

Finally, we only considered car insurance companies that have an ‘A’ rating or better with the Better Business Bureau (BBB).

Summary of the Best Car Insurance for Younger Drivers May 2024

• Nationwide: Best for Teen Drivers

• American Family: Best for Usage-Based Discounts

• Allstate: Best for Good Students

• State Farm: Best for Safe Vehicle Discounts

• Geico: Best Discounts Overall

• USAA: Best for Military

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