Free Life Insurance Quotes – Are they Worth It?

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Today’s guest post comes to us from Denise with AccuQuote.com.

Many online life insurance quote providers will send you free quotes, with no obligations to purchase. These online providers are affiliated to hundreds of reputed life insurance companies and are able to provide you with multiple life insurance quotes for easy comparison.

It is a quick and convenient way to find the most affordable life insurance quote from top-rated life insurance companies. But, are these online life insurance quote providers really as unbiased as they say they are? Are the quotes real? Is there anything you should be wary of?

Here’s a list you might want to go through before you start looking for free life insurance quotes online:

• Watch out for life insurance quote providers who are not BBB-accredited. BBB-accredited websites have the advantage of being scrutinized by a third party. You can be sure of their credibility. In contrast, websites that do not have the BBB seal of accreditation may or may not be safe to use.

• Watch out for websites that will give you the cheapest life insurance quotes but the life insurance carriers they represent hold poor financial ratings. The carrier may not be in a position to pay off your death benefits or may not pay in a timely manner at a time when your family needs it the most. You need to choose a policy from a life insurance company that has held a good reputation for paying off death benefits and has held financial integrity for a number of years. Check a company’s financial rating before you purchase their policy.

• Watch out for websites that lure you with attractive offers or low cost life insurance rates, but after the underwriting process is over, you may find the premiums are more expensive than what you would have paid elsewhere! Their initial questionnaire does not take into consideration a number of factors such as family history or occupational health hazards, or other factors that can legitimately influence the underwriting process.

• Beware of online providers who say they are affiliated to several life insurance companies but are subtly trying to sell you only one product. They compare various products but the one that is cheapest, of course, is the product they are subtly marketing.

Cheap life insurance is available online. But, you need to do your own research and take advantage of the variety of reliable resources available online. Genuine agents do exist and can provide you with life insurance quotes that you can rely on. In most cases, quotes will not change, but in the event of any undisclosed information or health concerns that turn up during the time of medical checkups, your premium may be higher than what was initially quoted.

If you want to be double sure the company providing you life insurance quotes online has good credentials, check well-respected news publications, such as The Wall Street Journal, CNNMoney, Forbes, Kiplinger, etc. to find out whether the company is well-spoken of.

Finally, look for websites that offer personal service. You may have questions, or want more information or get an expert’s opinion. Many life insurance quote providers offer consumers access to life insurance professionals who can offer unbiased, professional recommendations that guide you towards making the right decision regarding the purchase of your policy.

Keep these tips in mind and you can have a happy and safe experience, hunting for life insurance online!

How about you all? Have you used free online life or other insurance quotes before to help guide your shopping? 


Share your experiences by commenting below!


Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.

• First, I’ll just start out by saying that I think that these are good tips to follow in searching around for ANY type of insurance online.
• @ Checking a company’s financial rating – What is the best way to do this? Do you want to check their bond ratings? Any one have any tips they can share?
• Please remember, that not everyone needs or should have life insurance. If you are in your 20’s, unmarried, and have no children, you don’t need life insurance. It simply isn’t worth the price. See my previous article where I researched this at the following link – Should I Buy Life Insurance Even Though I Don’t Need It?
• Another way to ensure that you are getting reliable quotes is to simply search directly through the websites of the major insurance carriers (Geico, AllState, Nationwide, etc).

***Photo courtesy of http://3.bp.blogspot.com/_ev83kfrsViw/ TBZYZpVkHbI/AAAAAAAAAJE/TmQNAc-q_oM/s1600/Insurance+Quotes.jpg