internet has changed many things and
term life insurance online is no
exception. Buying a piece of
furniture online is one thing but
insurance really is about information
and there's no better place to get and
provide information than online.
Let's look at the advantage of term life
insurance online versus the slow,
cumbersome, and expensive alternative.
go back to the world before the
internet. Life insurance was
absolutely miserable. Picture a
table...yours or within an insurance
agent's office. Dozens of
brochures and charts are strewn across
the table with a dizzying array of
tables and numbers. It really was
obnoxious and no wonder people put off
purchasing life insurance!
The process of calculating rates was
mind-numbing. It started with a
base rate according to age, amount, and
time. You then had to add or
subtract percentages to this
ever-changing rate due to many variables
such as health class, smoking, riders,
area, price points, and on and on.
It involved a calculator and a fair
amount of patience. It was not fun
for either the prospective buyers or the
agent. More importantly,
there was a real incentive to only show
a few plans since it became
exponentially more complicated with each
plan that was proposed. This is
bad if you're a consumer.
forward to term life insurance online.
Again, insurance is all about
information. There's no
shipping...no returns...just rates based
on certain criteria. It's
beautifully designed for the online
world and it has never looked back.
It would have seamed impossible a decade
ago to imagine that buyers of term life
could instantly run their own quote
across multiple carriers and plans in
seconds. This also put a
tremendous amount of power in the hand
of the consumer. We have seen
countless clients who have very
expensive life insurance or insurance
ill-suited for their situation.
The list of poorly selected (or in most
insurance policies run the gamut of too
much insurance, too little insurance,
bad carriers, too many expensive riders,
expensive whole life insurance, and last
but not least....way too expensive on a
per dollar of coverage basis.
Again, this partly goes back to the fact
that it would take hours (assuming no
errors) to cross-compare multiple plans
goodbye to difficult! In under 10
seconds you can now have the best rates
quoted online for you. We make
sure to leave this process unobstructed
for you to get your quote.
The online world still has not caught on
to this as they tend to be more
aggressive in "selling". We're
more aggressive in educating and
providing you the online tools you need
to put the power of this information in
your hands. We figure you'll show
you're appreciation by letting us help
you through the process based on years
of experience. This is our show of
faith as your future
next wave of innovation for online life
insurance will follow in the
insurance has already moved this
direction with term life soon to follow.
Online applications are ultimate
end-game to promote not only ease of use
to you, the consumer but efficiency and
cost savings to the carriers. Term
life insurance has become such a
commodity in a competitive market that
will force further efficiency in the way
of online applications. We foresee
this occurring over the next three to
five years. Lengthy paper
application will likely go the way of
tables full of matrices and rate charts
and we say...good riddance!