How To Purchase Term Life Insurance Online
Shopping for life insurance doesn’t have to be torture or time consuming. It can actually be quick and convenient. They key is using the resources and professionals available to you.
Unfortunately, most life insurance consumers start the shopping process by spending so much time researching on their own. We live in a research intensive world.
People will spend hours researching products and services that they’re looking to purchase. Life insurance is no different. But it doesn’t have to be this way. In fact it can be very simple.
Purchasing Term Life Insurance Online Should Be Easy – Not Stressful
Is it exciting or fun purchasing life insurance? I’ll let you decide that. However, your family or business depends on you having appropriate coverage.
Life insurance can be shopped for and purchased easily by following our simple process. Just follow our easy to follow chart below to see how simple shopping for life insurance is.
Now is the perfect time to get started so let’s begin!
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Life insurance quotes are only the first step
Our free life insurance quoter is used daily from people all across the country. Unfortunately, many people have the impression that quotes are the same thing as offers.
Life insurance isn’t purchased like a pack of gum that you see on the grocery store shelf. You must qualify for the rates you receive from the quoters.
Make sure you select the appropriate “Health Class” when filling out the quoter. This is where most people receive an inaccurate quote.
In order to qualify for the quotes you receive, you must select a company and complete an application. Once the application has been submitted, the underwriting process will begin.
Underwriting and your official offer
The underwriting process begins after you submit your application. A paramedical exam may or may not be part of the process. Once the company completes the underwriting an official offer will be presented.
Your official offer is based on all the data collected from the underwriter. The underwriter will have access to information such as current and past medical information, medications, and driving history.
They will then provide you an official “Health Class” rating based on their underwriting criteria. Your health class is not standardized across all companies. That means that one life insurance company may rate you “Preferred” and another “Standard” even though they have the same exact information.
This is why the average consumer can get overwhelmed with the purchasing process.
Use An Independent Life Insurance Agent
There are so many life insurance companies. Each company has their own underwriting criteria. It would be nearly impossible for the average consumer to research all the life insurance companies without the proper resources.
We shop from over 60 of the nation’s best companies in order to find the best company for your situation. Once we get some basic information, we can find which companies will rate you the best at the lowest rate.
What if the final offer is at a higher rating?
Sometimes something unknown comes up in the underwriting process. When this occurs a higher health class rating may occur. For example, there are situations where a client forgot an important health detail when applying. There are also situations where a client didn’t know they had a health condition (high cholesterol for example).
Using an independent agent who orders and controls the APS (Attending Physician Statements) information is extremely important. At LifeInsuranceBlog, we do not have the life insurance company order the APS even though this is common practice in our industry.
If a health issue is found and you are rated at a higher health rating, we are able to pivot to the next best compnay. This will make sure you’re getting the best offer that you qualify for. We order the APS so you are not stuck with the company you initially applied with if something pops up in underwriting.
It is a time and money savor when we are able to shop your case before and AFTER your approval. Just because the company you initially applies with rated you higher doesn’t mean other companies will rate you the same.
Get started now
Purchasing life insurance is time sensitive. I’m a researcher by heart. I love researching products before I purchase them. Be careful taking too much time searching for the perfect fit.
Life insurance rates don’t go down as you get older. They only go up. That’s why it’s best to use an independent agent to shop for you. It’s quicker, more efficient, and we do all the work.
Fill out our free life insurance quoter of give me a call at 888-411-1329. I’ll help you find the best company for your individual situation!