When you run your term life insurance quote, how does the system determine which plans and carriers to show?  You will usually receive between 5-7 plans within a few seconds of hitting enter.  Let's look at how those life insurance plans are selected from the many plans available.

First, you help narrow the range of plans quoted simply by the initial information you entered into the system.  Each carrier has different requirements for eligibility.  Some carriers really concentrate on a specific demographic which might be comprised of age, area, amount of term, or length of term.

For example, certain carriers may avoid longer periods of term life such as 25 or 30 years because of the increased risk involved.  Others may not want to above the $1M mark in terms of amount term life insurance.  So the first filter that all the plans must go through deals with carrier eligibility.  Not every carrier will offer a plan for any given combination of age, area, amount, and time length.

The second filter is more important and really underlies the beauty of our quoting engine.  This filter deals with offering a competitive life insurance rate.  For a given set of vital information (age, amount, term, area, etc), not every plan will be priced competitively.  Of those plans that make it through the first filter of eligibility, only the best priced plans will make it through the second filter.  We now have the most affordable term life plans across multiple carriers.  Plans being priced out can happen for a few different reasons.  For one, the carrier involved may have had bad claims experience for a given demographic.  The carrier may also have different price bands or life premium bands that are not ideally matched with your given amount of term.  For example, if you chose $500K of term life coverage and one carrier has a premium band from $250K to $499K while another has their premium band from $300K to $600K, the second would provide essentially a discount for your chosen amount of $500K.  This would result in a lower cost per dollar of coverage.  Again, the first carrier might do better with an amount of $250K.  There's the third option that a carrier just doesn't like a given demographic and will charge a premium for the additional risk they associate with a particular amount/length of term.  If the business comes...fine...but we'll charge more since we don't really want it. 

If there is still too many similar plans, a third filter will further narrow similarly priced plans according to carrier rating.  This just an additional refinement to the total list of plans so that you can feel confident in your choice.  Between filters for eligibility, price competitiveness, and carrier ratings, you have in a strong position to compare life insurance.  You will also notice that you can adjust amount or length to change the mix of carriers or plans.  If there's a particular carrier you really want to focus on, we will be happy to quote exclusively for that carrier for you.  As your licensed and professional life insurance agent, that's what we're here for!