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A Challenge to Websites Offering Life Insurance Quotes Online

  • Jan-25-2012
  • Richard Reich

LifeInsure.com Issues a Challenge to Websites Offering Life Insurance Quotes Online

I am offering a challenge to other life insurance Websites to allow consumers to check life insurance quotes online without submitting personal information (name, phone number or email address).  At the least, if this information is requested, the challenge to other Websites is to prominently display and disclose how the information will be used.  If the information is being sold as sales “leads” to life insurance companies or agents, the consumer has the right to know this upfront before they submit their personal information.
 
As the Internet continues to provide a convenient and streamlined method of selling products and services, the number of websites offering term life insurance quotes has exploded. Many of these companies do a great job of presenting quotes and selling insurance but, unfortunately for the consumer, many Websites have sprung up that only collect and sell the consumers’ information to multiple parties

As I can see it, there are four types of life insurance Websites:

  • Life insurance company websites – used mostly for branding purposes, but some have quote request forms.  The companies will typically forward your information to their agents or brokers.

  • Websites that have the appearance of consumer sites but are actually lead-generation websites.  Leads (your information) are sold to other agents and brokers, sometimes as many as 8 times.

  • Sites where the visitor can get quotes from multiple companies, but must enter contact information (name, email address, phone number).  This information is usually only used to contact the consumer to sell the policy.

  • Websites where the visitor can get quotes from multiple companies anonymously, by entering basic information (date of birth, state, height and weight, amount of insurance and length of term).  Personal information is only required if the consumer decides to apply for a policy.

    The last type is the most consumer-friendly and offers the most privacy of the various Website types.  I challenge the rest of the online life insurance community to offer quotes without requesting any personal information or, at a minimum, to let consumers know up front that their information will be shared.

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