There are many reasons why you may consider buying life insurance. As life’s circumstances change, it’s important to make sure your loved ones are protected at every stage. Maybe you just got married, bought your dream home, are growing your family, or received a promotion at work. No matter your reason, it’s important—and necessary—to secure life insurance, as it ensures your loved ones are financially safeguarded if something were to happen to you.
One of the most common ways people shop for life insurance is through fully online quote forms. While this may be a convenient way to obtain coverage, these forms often quote consumers for expensive, one-size-fits-all policies. They don’t help you understand key aspects of obtaining coverage, like the difference between term life insurance and permanent life insurance), and they don’t engage in genuine conversation to understand your unique needs, situation, and budget. Luckily, SelectQuote does. In as little as 15 minutes, our licensed insurance agents can help you find an accurate quote for the type of coverage you need at a price that’s right for you. Let’s walk through the difference between securing life insurance through a fully online experience vs. the benefits of working directly with a licensed insurance agent over the phone.
The Pros and Cons of Buying Life Insurance Online
We rarely think about life insurance, but that doesn’t mean it isn’t a major financial investment. Online life insurance forms are appealing because you don’t have to interact directly with anyone else and can complete them on your own time. But what new life insurance customers may not know is that a fully online experience may fail to consider certain factors when calculating your coverage options and rates. These factors include:
Health and Lifestyle: Your life insurance options are largely based on health and lifestyle. A fully online form may miss the details and nuances about your personal health and lifestyle factors. They’ll often assume a certain risk class and present you with a quote that’s much lower than what you’ll actually end up paying for coverage.
Coverage Amounts: If a fully online quote form provides you with a favorable rate, there’s a risk that the actual coverage amount isn’t enough to support your loved ones if something were to happen to you. Working with an agent over the phone is more likely to give you a better understanding of the coverage amount that’s right for your needs.
Cost: By not working directly with a licensed insurance agent, you risk paying for an expensive, one-size-fits-all policy instead of securing the right amount of coverage at a rate that actually works for your budget. An agent knows how to ask the right questions when learning about your financial situation so they can help you secure a policy that’s both sufficiently protective and affordable.
Why work directly with a licensed life insurance agent?
Licensed insurance agents are tenured, experienced professionals who take the time to get to know your needs to help you determine the right type of coverage for you. They’ll ask more about your health history, learn about your budget, and work to find options that take all of this information into consideration.
SelectQuote’s proprietary technology allows our licensed insurance agents to compare many of the nation’s most highly rated insurance carriers in one place on your behalf. However, the support doesn’t end there. Our agents will also help you navigate and finalize the application process, set up your medical exam (if applicable), and finalize your coverage. They’ll even serve as an advocate after the policy goes into effect, remaining available to answer any questions or concerns you may have.
The Difference SelectQuote Can Make in Buying Life Insurance
While you may be drawn to the convenience of a fully online experience, consider the following ways in which SelectQuote makes shopping for life insurance quick, easy, and personalized:
Our Agents are Experienced: We’ve been helping families secure life insurance for almost 40 years, and some of our most tenured agents have been dedicated to helping customers find the right coverage for over 10 years.
Our Agents are Commission Agnostic: Our agents are blind to the commission attached to specific plans, meaning they aren’t pushing those options for a paycheck. Their focus is solely on helping you find the right coverage for your needs at a price that works for your budget.
You May Save Money: We’ve had customers save up to $6,000 over the life of their policy by working directly with a SelectQuote licensed insurance agent.
Your Quote Will Be Accurate: Nearly 90% of our customers pay within 5% of what they’re originally quoted by a licensed insurance agent, meaning they’re quoted a rate upfront that’s in alignment with what they’re expected to pay.
Our Process is Easy: Our agents take the guesswork out of the process, helping you compare policies and rates from several of the nation’s most highly rated carriers in just minutes.
Buying Life Insurance with an Agent Compared to Getting Coverage Online
The idea of getting on the phone to purchase life insurance can be overwhelming. However, when it comes to securing protection for your loved ones, it could be well worth your while. Here are just some of the ways in which getting on the phone with a SelectQuote agent can benefit you:
Difference in Communication: SelectQuote’s agents do much of the heavy lifting, including comparing life insurance quotes from 10+ trusted carriers in just minutes. A fully online life insurance form is up to you to navigate and complete, often leaving you with limited opportunities to compare coverage options.
Difference in Comparing Life Insurance Options: Our agents will perform a personalized search based on your coverage needs, budget, and any potential health barriers. Online quote forms provide limited guidance and support to determine how much coverage you need and how to most accurately answer health and lifestyle-related questions.
Difference in Life Insurance Recommendations: Our experienced agents offer unbiased recommendations that meet your coverage and budget needs in just 15 minutes. Online forms lack visibility into the recommendation process, which could leave you with the risk of being quoted different coverage amounts or expensive coverage options once finalized.
Application Support: You’ll receive ongoing support from our agents when navigating the application process, medical exam (if applicable), and finalizing coverage—services many online quote forms aren’t able to provide over the phone.
Post-Enrollment Support: Our agents continue to serve as your advocate even after your policy goes into effect.
Get Help Buying Life Insurance with a Licensed SelectQuote Agent
Picking up the phone to secure life insurance may be one of the most important phone calls you make this year. Make sure you have an experienced team of qualified licensed insurance agents on your side to support you through the entire process.
