Shopping for life insurance companies online is the most efficient and cost-effective way to find an affordable policy for several reasons. It saves you time because you can compare prices and policies from numerous life insurance companies side-by-side in a matter of minutes. It allows you to choose the company you want for a rate that fits your budget. And that leads me to the issue of prices— which I think is the best kept secret about shopping for affordable premium rates.
Rates may vary greatly from company to company and that’s why shopping from online life insurance comparison services, such as LifeQuote, is smart. But one of the biggest misconceptions among consumers is that the rates from each individual company will vary if you keep shopping around. Let me clear up that confusion by assuring you that prices are set by each insurance company, not by us. LifeQuote simply represents the products those carriers sell; we have no control over the pricing and neither do any insurance brokers.
The premium rate for a 20-year, $500,000 policy from a household name like MetLife will depend on your age, health, lifestyle and family history. But the price we quote you for that policy will not vary by requesting a quote somewhere else.
Now, that same coverage amount and term length from another top-rated company– such as Banner Life, Transamerica, or ING– may cost more or less, all dependent on your personal factors. Our competitors might want you to think that you’ll get a better price for that policy by shopping with them but it’s just not true.
What is true and does matter is the kind of service you will receive from LifeQuote versus the others. Our team of insurance professionals—veterans in the business– pride themselves on attentive customer service and quality care. You can choose to speak to a licensed agent on the phone or not; they are available online exclusively if you prefer via Live Chat or email. The choice is yours as to how much interaction you want because once you request an online quote, you can fill out the insurance application, be scheduled for your medical exam, and every aspect of the process privately and at your convenience.
Term life insurance is LifeQuote’s specialty and that is where that expertise can prove to be valuable. For instance, they might offer hints to help you save money and get the best term life insurance rate by searching for a guaranteed renewable term insurance policy. For example, say you purchase a 10-year term insurance policy. After the 10 years are up you want to make sure you can renew that policy for as long as you want, regardless of your health.
A licensed agent will be knowledgeable about fixed premium term insurance policies. Most term insurance premiums are fixed, but some term insurance companies may offer a fixed premium for the first few years but then the premium may increase. Those are the kinds of questions or concerns you can address with LifeQuote.
Yes, shopping for a quality policy from a top-rated term life insurance company is a good thing. You can even check out the ratings of those companies from AMBest before making your choice. But don’t be fooled by the hype of brokers or shopping services that claim to have the “best prices.” There is no such thing. But the best service and customer care… that is something you can look for from your one-stop shopping leader, LifeQuote.