Majority of people still buy life insurance through a brick and mortar agencies. However this is changing rapidly since more and more people are going online to shop for all kinds of products. Life insurance is not an exception, with 8 out of 10 people going online to get life insurance information. There are many benefits of buying life insurance online. One of the most common is the ability to research all the options and be able to secure a policy all without leaving your smart device. Buying life insurance online is hands down the best way to go but there are some things to consider before jumping in. So lets cover some tips you should take to be well prepared.
Have you ever looked for the best hotel or flight price by using Expedia or Priceline?Well you can do the same thing with life insurance if you work with an independent broker. An independent broker is an agent or agency that represent many different companies and will be able to get you the best quote. Not only you will save money this way but imagine all the time you save. This also gives you the ability to pick the type of product you buy. A good agency will have a range of products from term life, permanent, and no medical exam life insurance.
Do your Homework
Just because the company tell you how great they or their product is be sure to go an extra route. Check the life insurance companies financial strength by checking their rating with A.M. Best or Moodies. Also you can check what other customers are saying and glance through the reviews. In addition to this make sure you fully understand plan specifications and any benefit details.
Life insurance rates are determined by many factors such as your health, family history and lifestyle. If you want accurate quotes makes sure you don’t hide anything from your agent so they can determine which is the best company to apply for. If that wasn’t good enough keep in mind that the life insurance companies do have a right to deny a death claim if there was any misrepresentation.
The internet has empowered the consumer to make much smarter decision. Gone are the days when you had to buy the only option being offered. By shopping for life insurance online you are giving yourself a competitive edge, especially if you follow the tips above.