Life Insurance Quotes - PART 2
(For better understanding, please read Part 1 in this series.)
If you are planning to visit an insurance business in your area, before you go, there are plenty of sites online to receive free insurance quotes. There are many to choose from and I won’t attempt to list them all in this article but I will tell you a little about them so that you can decide what is right for you.
Life Insurance Quotes Online
It’s important to understand that most free insurance quote websites are not insurance companies. They are merely a middle-man between an insurance agent and a prospective insurance customer. When a person wanting to receive an insurance quote enters his or her contact information to an insurance quote site, insurance agents pay the site to receive the contact information.
Now, each site is different. Let’s say you enter your information on a free quote website. That site will do one of two things:
- It will either sell your information to one insurance agent, or
- It will sell your information to many insurance agents.
Why does that matter to you? If you enter your info that is sold to one agent, that agent will call you and will give you an insurance quote based on your information AND based on the insurance company that agent works for.
Which is Better: One Quote or Many Quotes?
If that agent works only for one insurance company, he or she is limited to the strengths or weaknesses of that specific insurance company. For instance, let’s say the company is State Farm Insurance. State Farm has great rates and benefits for car insurance and for home owner’s insurance, but when it comes to life insurance there are many other insurance companies that can beat their rates and benefits.
Unless you do your due diligence to learn all about each insurance company out there, (and who has time for that?) you have no idea which insurance company is best for you. One agent gives you one quote. Period.
If you sign up to a site that is connected to many agents, then you have several agents competing for your business. Instead of you doing the searching to find the best company for you, there are others doing the searching for you. They will email you quotes from the different companies they work for.
Independent Life Insurance Agents
Some of those agents work only for one insurance company, while other agents are what’s called independent agents. An independent agent is still subject to strict insurance laws but is not limited to selling insurance from one specific company. An independent agent is contracted by more than one company, knows the strengths and weaknesses of each company and is then able to find the right one to not only meet your unique set of insurance needs, but also able to find you the best rate and coverage.
My advice? Find this kind of agent to work for you.
To give you a start, one such website is netquote.com. When you submit your information to netquote, within minutes, you will be emailed (or called—whichever you prefer) by several different agents. You may in turn give them your specifics and then let them do the searching for you. There is no charge for their services. Whether you wind up applying for insurance through one of them or through a local agent, you’ve equipped yourself with a little knowledge and through the process are then able to make a more knowledgeable decision for what life insurance policy is right for you.
I hope this information helps you and that you find the right insurance for you and for your family.
I am not an agent, have never owned an insurance license, and cannot give you professional advice on life insurance; however, I do have experience working for life agents and have behind the scenes knowledge that I wish to share with you in order to point you in the right direction so that you may find the right life insurance for you.
Please contact a licensed insurance agent to ask further life insurance questions.
- Life Insurance for Dummies
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