Online term life insurance quotes are less expensive than buying in person, thanks to lower overhead for the company.
Not many people think too much about buying term life insurance online versus in person. In fact, when they get online to ask for quotes, they are looking for a deal, not considering how an insurance company sets its policy prices. Here is a bit of information that might come in handy for you and make your life a little be less expensive when it comes to term life insurance.
Most of us use the Internet to pay our bills online, check car insurance rates, trade stocks or whatever other financial transaction that they need to do. And we all know you can certainly track down term life insurance quotes online. However, did you know that when term life quotes were first uploaded to the Internet that term life insurance rates dropped by almost 50 percent? They dropped because the big boys on the block now had to compete with one another because everyone now had their rates out in the open where all and sundry could see them.
It used to be that if someone wanted this type of insurance, they only saw the price listed on a proposal brought to them by an agent. It was not easy to compare rates unless you had more agents come to your home, write offers and provide a quote. In short, price transparency —- thanks to instant quoting/comparing —- has changed the pricing of term life insurance.
By the way, this drop in pricing is also applicable to health insurance quotes online. The prices have dropped for the same reason, competition. Look for a reputable insurance company, one that deals with a reputable network. Compare pricing online by asking at least three providers for quotes, whether you are searching for health insurance or term life insurance.
Price comparisons are the gold in your online shopping journey for insurance. Take the time to cross check and compare and you will find a deal. It just takes a bit of patience, and by all means, if you do not understand what a quote includes or why it seems to be different that other companies, pick up the phone and ask. It’s your money, your health/term life insurance policy and you want to know as much as you can before you buy.
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