a friend the other day call and ask me
about buying term life insurance.
He had just signed up for an expensive
whole life plan through his employer and
wanted to compare life insurance plans
with what's out there on the market.
We went through the differences between
his current plan and term life available
on the market. He's now on a much
more affordable life plan that fits his
needs. We're still friends.
Let's see if we can give some similar
guidance to help you buy life insurance.
You're probably in one of these two
categories. Either you are
completely brand new to the
insurance purchase or you have existing
life insurance and want to either add
additional coverage or make sure you
have the best rate. We can help
with both situations. Either way,
the key to term life insurance these
days is price. It's really a
commodity these days. This means
that buying life insurance is more
similar to buying paper than buying car.
Why? The market has become
incredibly competitive over the last
decade and for the most part, term life
is a very simple product that's easy for
the carriers to understand. They
all have similar access to actuarial
data. This has narrowed the price
range you'll find for a given term
length and amount of coverage which is
good news for you. This brings up
a good point...
#1. You need access to the rates
across multiple carriers and plans which
you can compare against each other.
Some traditional brokers might quote
just a few plans. This puts you at
a significant disadvantage since there
may be certain
premium bands or carrier
preferences that would benefit you over
others. The only way to find this
out is to quote across many plans.
The online world has made this this
distribution of information easy and in
our opinion, mandatory. You'll
find our online term life insurance
quoting tool can quickly and instantly
provide you multiple
rates based on your basic demographics.
You're half way there with such a
powerful tool at your disposal.
This brings up a good point...how much
benefit and for how long should you consider?
#2. Knowledge is power and no
where is that more true than when buying
life insurance since this product, more
than any other, is all about
information. You can always call
licensed life insurance brokers
but if you're like me, I like to take it
at my pace. I love a website
that's deep in great information that
helps me make a good decision. If
I have additional questions, I will
usually call them once the website and
company has established that they are
trying to give me the edge in making a
decision. Check out our
insurance article database which just
keeps growing. We're trying to
break down the entire product in a
straight-forward way that you can wrap
your head around. You'll notice
the language is honest, impartial, and
addresses what's really important when
buying life insurance.
#3. Choosing the life insurance
plan is just the start. You need a
advisor that can help shepherd your
application through the underwriting
process and beyond. This whole
process after you buy the life policy is
relatively new to most people. We
work to speed the paramedical exam,
speed the underwriting process, and try
hard to deliver a life insurance policy
that you can feel good about.
We're here through the life of the
policy and a re-examining of your policy
against what is available on the market
is always a call or email away.
want you to buy life insurance with
confidence and the feeling that someone
on the inside is on your side.