You are probably reading this post because you want to get instant term life insurance quotes without providing any personal information. If that is the case, the quoter on the right-hand side will provide just that. You don’t need to put an email, phone number, or even a name. Just enter your date of birth (which is necessary to calculate your age), the state you reside in, and the face amount (death amount, or benefit amount) that you are wanting.
At Effortless Insurance, we respect that you don’t necessarily want to be contacted. What most people fail to understand is that if you put your information on what is called a lead aggregator website, this is the time to be worried. Those types of websites are not insurance companies or insurance brokers. Instead, they are websites that try to get you to put your personal information so they can sell it to many different brokers and companies as a sales lead.
You will receive over 20 calls a day from a call center with hungry salesmen. Picture the movie The Boiler Room, where stock brokers cheat the masses and have a lavish lifestyle, while you are cheated out of your 401K. It seems so normal these online days. Everywhere you go someone wants to know your email, phone, and your mother’s maiden name. I will try to explain as much as possible in this article about why we ask for the information that we do, where you should feel comfortable sharing it, and where you should avoid it.
Why do Websites Ask for my Personal Information?
It’s very simple – you are a sales lead to whom they can call and present their offer. This isn’t anything new in sales. Websites are built on the promise to generate business and a “lead capturing form” is the best way to connect with interested prospects.
In essence, the Internet is built on the foundation of free “window shopping,” meaning that you can go to any website, and not feel a salesman breathing in your face or be pushed to buy a product. You visit a page, you read a little more, and you can close it and go to the next one. May the best website win all the possible business.
What if I Only Want an Instant Life Insurance Quote?
Keep in mind that the instant quotes are accurate, however only about 5% of the population will qualify for them. This means that most of us aren’t as healthy as people who qualify for these rates; we may have diabetes, be overweight, or have had cancer in the past. Only a licensed insurance broker can truly estimate your rates based on the conversation he/she will have with you.
I’m not trying to convince you to talk to one, however estimating life insurance rates is a lot harder than you think. Questions such as family health history, past DUI convictions, and smoking status will all contribute to a higher rate or a denial. You can’t get this from an online quoter, I’m sorry but they are just not built to take these complicated factors into account. Truth be told, the online quoter is for people without any health or lifestyle risk issues.
These people can run the quote and will most likely qualify for the rate they see. However, if you have some health issues or present a risk, you are still welcome to run the rate, but just keep in mind it’s a ballpark figure and your rate will probably be higher (and can go up by 400%). This is why talking about your specific conditions with a broker is your best bet in getting an accurate quote with the right company.
What if I Want to Buy Life Insurance Online without Talking to Anyone?
Sorry to say that this type of purchase just cannot be done without at least one brief phone conversation. If you are buying a full medical policy, you will have to go through a medical exam and talk to the nurse and there is no way to eliminate this. Also, if you ask people who have purchased a Globe Life or Colonial Penn policy if they wish they could have talked to someone before they bought their 5-year term policy that they thought was a 30-year term, I’m sure the majority of them will say yes.
Buying an insurance policy was never intended to be as simple as buying a flight ticket online. It is a lot more complicated and more personal than you think. You may find out that Banner Life has the perfect rate for you, so you apply and go to the medical exam, but 6 weeks after that receive a letter that your premium is 50% more because you are diabetic and overweight.
Wouldn’t you want to know this upfront? What if your broker would advise you to apply with AIG that has different underwriting criteria and can get you a lower premium? My point is simple – how would you know that? Would you call every insurance company in the nation and submit an application with all of them to find your best rate, rather than let an experienced professional steer you in the right direction from the beginning?
I know what you’re thinking: you have had the typical annoying car salesman experience and you think an insurance broker will be the same. You probably don’t want a salesperson barking at your ear and calling you three times a week (who does?!). However, don’t you think you owe to yourself to talk to someone who is doing this for a living? A professional who can assist you and give you his/her advice?
The Reasons Most of Us Don’t Want to Talk to Salespeople
There are many, but the first one that comes to mind is that they are pushy and only care about themselves. They always oversell things you don’t need, and they call non-stop until you feel pressured to purchase. The most feared reason may actually be “what if I can get this cheaper somewhere else?” With an insurance broker, the good news is that you can’t.
Insurance prices are heavily regulated by the state in which you reside, and the prices are fixed by law. This means that whether you buy from Banner Life directly, or through an insurance broker, the prices are the same – no one can offer you any discount or “break.” The good news in using a broker is that you get the broker to be on your side throughout the process, beginning with doing all the work of searching for the policy with the lowest premium for you.
If you ever need him/her to change your beneficiary, update your address, etc., you have someone that has a personal touch, instead of talking to a customer service representative that knows nothing about you or may not understand what you need. The only tools a broker has in order to get clients is his/her personality, and the ability to convey if he/she can be trusted, not the ability to magically change prices.
Why do You Need a Broker?
If you know every insurance company out there, all the underwriting guidelines, fine print in every policy, and understand exclusion clauses, then you don’t. If, however, you are not familiar with these regulations and details, and are not in the best of health, a broker can definitely help.
You need to shift your shopping to look for a trustworthy broker instead of trying to find the lowest online rates, which as we already discussed, may not be accurate for your particular situation. You would be surprised to hear that most brokers do care for their clients and are on your side to help you get the best policy to suit your needs, at the lowest price.
How do I Find a Good Broker?
You can start by reading some reviews, and maybe even give him/her a call to feel them out. Tell them about your situation and see if they can help. Ask them a few question, such as:
- What companies do you represent?
- Are you licensed to sell insurance in my state?
- Can I talk to any of your current clients?
- Do you have error and omission insurance?
You should also see if you can find the broker’s address online. It’s a good sign he/she isn’t hiding! Make sure to read the website footer for licensing information and privacy notes. When you are buying life insurance by yourself, you are not doing yourself any favors.
Yes, you may avoid a call center agent calling you, but you may buy the worst policy at a high price. You are purchasing life insurance to take care of your loved ones in the untimely event of your death, don’t you want to make sure you get a policy that will do just that?
Here at Effortless Insurance we don’t sell your information to other agents, and we only call once, if you put your phone number and request us to do so. If you get a call, you will get a call from Ron, who is a licensed broker.
We encounter you to read our reviews by our real clients so you can get the sense of who we are and what we stand for. We believe in educating you about what you’re buying, not in salesmanship and tricks. We present the facts and you will decide whether or not to go ahead, simple as that.