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Online vs. Using an Agent? What is the Best Way to Get a Life Insurance Quote

Life Insurance

Planning well for your future is essential, especially as you get older. One of the ways to insure yourself against any possible disaster is with a life insurance policy. One concern individuals often face when they think about purchasing life insurance is how much it will cost them and what their death benefit would be should the unthinkable happen. That’s why many of us turn to get a life insurance quote online.

Online Life Insurance Quote vs Using a Life Insurance Agent

There are many advantages and disadvantages to getting a life insurance quote online. You can search for different policies with quotes in seconds without visiting any agents or portals. Simply fill out your information on their website and answer questions about your health, family history, and coverage needs.

A disadvantage to getting online life insurance quotes is that you don’t have as many options for policies, and you’re relying on an automated system that does not know your specific needs or what type of policy would be best suited for your needs and budget. It’s nothing more than an estimated number on a screen that may or (more likely) may not be accurate in the end.

Online Life Insurance Quotes

When you’re online shopping for life insurance, it’s vital that you understand how risk classification can skew your quoted price. Offering online life insurance quotes is a common practice in the industry, but these are often inaccurate and do not consider risk demographics.

This is where a personal, one-to-one connection becomes important. An independent agent will take the time to learn about the nuances of your health (and any pre-existing conditions), whereas an online portal simply has a set list of questions to ask to speed up their process. 

Automated online life insurance quotes don’t typically speak with the underwriting department from various life insurance companies or pre-qualify you before applying. It’s just a computer program spitting out an insurance quote for you. You may get a phone call, but sometimes people only verify the information and go over coverage.

Using an Agent for Your Life Insurance Quote

A well-informed agent can help you navigate the nuances of underwriting so that you are sorted into the right category and get placed with the carrier most likely to offer coverage and at the lowest rate you can qualify for.

Automation in the life insurance industry tends to benefit the carrier more than the applicant. By automating the process, carriers save a significant amount of time and money, but there’s a tradeoff: lack of personalized touch.

An algorithm doesn’t seek to understand your needs and listen to what’s most important to you.

Without an agent, you’re missing out on valuable expert advice and personalized service that used to be the standard in the life insurance industry. Working with an agent means that you get the type of coverage you need without having to worry about the uncertainty of whether or not you’ve been appropriately classified.

Once you have an agent, they can help determine your risk and quote a price tailored to your needs (and budget). With traditional life insurance companies using agents less often, it has opened up more opportunities for independent agents willing to work harder for their clients.

Ultimately, it comes down to what’s more important to you: getting a “quick quote” or having a professional understand your needs and make recommendations backed by a sound strategy and rationale.

If you are only looking for a fast quote, and you’re not worried about the accuracy of what products are being recommended or the accuracy of the price quote, then any online quote platform will work fine. If you prefer a personalized response from a professional who has access to many different carriers and plans, along with more accurate quotes and policy recommendations for you and your family,  it’s worth connecting with an agent who can walk through the nuances of your needs with one-on-one attention.

RELATED: 10 Essential Questions to Ask Your Agent When Considering Life Insurance

Life Insurance Quotes in Your Area

Life Matters happens to do things differently from anyone else out there. Submit a form for a fast and free quote and we’ll digest your information and record a personalized response just for you. Something that will mean much more than just a number on a screen. And if you like what you hear, we’re happy to schedule follow-up conversations from there to help you navigate your way to the best coverage for the best rates you can.