As many industry experts acknowledge, the Internet is one of the best places to find comprehensive information about life insurance. It can also be the easiest and fastest method of obtaining term life insurance quotes from competing insurance companies. However, unless you know what to look for and know how to navigate your way through seemingly endless pages of competing websites, your search can wind up with you navigating away from your search, leaving you frustrated with the process and without a new life insurance policy in hand.
It doesn’t have to end that way. The following information should clear up any confusion you might have encountered in your search for life insurance quotes. We have broken down life insurance websites into four categories to give you an idea as to why you have been having such a difficult time doing something (shopping for life insurance) that could have been much easier had you had this data beforehand.
The four types of life insurance websites are:
- Life insurance company websites (e.g., Metlife.com, Guardianlife.com, Prudential.com, etc.) These sites have been established mainly for informational and branding purposes, but most also have forms on the websites where one can request quotes. Most of these companies will give your information to one of their agents and thus you’ll get quotes from that one company. Some insurance companies use independent agents and brokers to sell policies. They will usually forward your information to one of these representatives to contact you and offer you quotes (and try to sell you that company’s policy). The main problem with shopping this way is you would have to contact each one of these companies separately to get competitive quotes from each. As a side note, there is no cost benefit to shopping this way, as the price you will pay for a policy will be the same, whether you go “direct” to the company or work with an independent agent or broker like Intramark Insurance (Lifeinsure.com).
- Websites that have the appearance of consumer sites but are actually collecting your information to sell to agents, sometimes as many as eight times. These are lead-generation websites that collect your personal information and sell it to one or many life insurance agents for $20 – $50 a name. This business has become so lucrative that some of these lead-generation companies have established multiple websites to capture as many leads as possible. If you have ever entered your information on one of these sites, now you know why you received as many sales calls as you did.
- Life insurance quote websites (such as LifeInsure.com) that also offer quotes for numerous insurance companies but allow you to view those quotes online and anonymously (no personal contact information needed). Then, only when you wish to apply for a policy or submit questions online, do you submit any information about yourself. If you only receive a quote from this type of company (and do not request an application), they will have no way of contacting you. With this type of website, you can visit and take your time studying and reviewing quotes on your own time and only when you are ready, do you need to submit your information, or call to speak with a representative, if you wish.