The Life Insurance Quote Business is Booming, but is the Insurance Quote Accurate?

The life insurance quote business online is booming. Not only are life insurance agents quoting a more diverse portfolio of companies, but consumers are also now able to quote life insurance online for themselves. In this article, I will analyze the impact of the life insurance online quote on the insurance industry, the insurance broker, and the consumer looking for insurance.

In the not so distant past, life insurance was sold, not bought. The typical agent would travel door to door, network locally, and perhaps meet with potential policyholders for dinner at their home. The "debit" agent was also a common profession. These agents would actually go to their clients and collect the premium on a weekly basis. The life insurance quote came from a person back then, not a computer.

These days, consumers can go online for a life insurance quote. The ability to readily compare the cost of life insurance among hundreds of life insurance companies has dramatically changed the environment.

The biggest impact to the insurance industry is the fact that the cost of coverage has decreased significantly. This is good for the client, but is in effect shutting smaller companies down as the claims to revenue ratio is converging.

Another impact is the fact that when consumers get an online life insurance quote, they are rarely coached as to what is the better deal for them. Often times, term life insurance is the only product that they are offered. The customer is not being told about the advantages of whole life insurance or the flexibility of universal life insurance?they are often just given a term life insurance quote as requested. The life insurance agent of past would have talked to the client and done some fact finding before selling them something that may not fit their particular situation.

The online Life Insurance Quote industry has also affected the independent insurance broker. Often times, the local broker is not trusted with the quote because the consumer has gone online and gotten a cheaper quote from an online quote service. Misquotes are usually the result of the lack of fact finding on the part of the online insurance quote companies. Customers would be much better off dealing with a licensed life insurance agent (who can broker any company out there; whatever suits the customer best) for their life insurance quotes.

So the next time you go online looking for the best term life insurance rate, consider that you may be making a mistake by dealing with a "call center". Consider that the life insurance quote that you are receiving is only from the companies that they carry. Consider calling on an independent life insurance broker for your term, whole life, and universal life insurance needs and information.

By: Ashley Brooks, CLTC

Ashley is the marketing vice president for the Family Life Insurance Brokerage Business and has a background in Health & Financial Underwriting, Insurance Plan Design, and "best deal" shopping. Brokerage Services carries only A rated (or better) companies in their product portfolio and has been serving the needs of Independent Insurance Agents since 1977.

Get a free life insurance quote from Ashley Brooks here Life Insurance Quote

Insurance Add URL and Resources Insurance Add URL

---

Consumer Driven Health Plans [ CDHP ]

Do you know that skyrocketing health care costs have been... Read More

What Is Health Insurance?

What is health insurance and why do I need it?... Read More

Insurance: A Necessity for Peace of Mind

There are many choices for insurance. Insurance is a policy... Read More

Mortgage Insurance Plans: How Good Is Yours?

Mortgage insurance, to pay off a mortgage, is something you'll... Read More

Indemnity Insurance For Landlords

As a property owner it is essential to protect yourself... Read More

Origin Of Long Term Care Insurance

In the early 1980's Medicare started using a system called... Read More

What is Pet Health Insurance?

Pet Health Insurance can give you the peace of mind... Read More

Affordable Insurance Quotes To Save You Money!

Whether you're looking for insurance quotes for auto, life, travel... Read More

Online Health Insurance Quotes - Finding The Cheapest Rates Possible

Shopping for health insurance can be very discouraging when you... Read More

What to Look for in Good Health Insurance

Health insurance is a kind of protection that provides payment... Read More

What Should I Do About Billing Problems When Using HSA Money?

If you run into a billing problem or misunderstanding with... Read More

Tips For Lowering Your Auto Insurance Quote

Do you have many claims? If so, you should do... Read More

Give Your Auto Policy a Tune-Up

When you originally purchased your auto insurance policy, you purchased... Read More

Is Life Insurance Comparison Really Necessary?

When you want to purchase a life insurance policy, you... Read More

Why Dont Insurance Companies Reward Us for Being Healthy?

Insurance is always a gamble, a bet actually.You are betting... Read More

I Was In An Accident, Will My Car Insurance Rates Go Up?

You were on the phone, got distracted and before you... Read More

Guide to Car Insurance

Here is a useful guide to car insurance. Buying car... Read More

Do Insurance Premiums Increase Every Year?

Many people ask, "If I am supposed to get a... Read More

What Does Buildings Insurance Cover?

You will find that your lender will insist that you... Read More

The Great Value Of Accident Photographs

You were humming along on a bright and sunny day... Read More

How Many Homeowner Insurance Quotes Do I Need To Save Money?

Homeowner insurance quotes can vary in the amount they cost... Read More

Life Insurance: Why Theres No Need to be a Desperate Housewife

Life insurance looks set to make a comeback in the... Read More

Health Insurance Providers Online - Benefits to Applying Online

Health insurance providers are going online to find new customers.... Read More

Cheap Health Insurance - Health Insurance for The Self Employed

If you're self employed, you may think of health insurance... Read More

Do I Need Travel Insurance?

In the United States health insurance, unlike many other countries,... Read More

Flat Insurance in the UK

What are the factors involved in flat insurance? Do I... Read More

New Jersey Car Insurance - What Do You Need To Know About It?

When purchasing New Jersey car insurance there are many decisions... Read More

Finding Auto Insurance Comprehensive Coverage

You can go online to easily find and quote auto... Read More

Medical Bankrupticies: What You Can Do To Protect Yourself

First the bad news: about 2,000,000 personal bankruptcies each year... Read More

Disaster Decision - Do You Need Insurance?

The expenses involved with owning a home can be overwhelming... Read More

Term Life And Whole Life Insurance

Which type of policy is best for you, term or... Read More

Insurance for Car Wash Fundraisers

Non-profit groups in this day and age need to watch... Read More

What Price For Your Health?

How do you put a value good health? For many... Read More