In days past, life insurance agents would come to your door. Today, the agents are trying to reach people through the Internet. The benefit of purchasing online is that you can compare insurance companies and their rates, view features and plans that are offered. Many online insurance companies will even connect you with a licensed insurance agent so you can make sure you get the coverage you need for yourself or your family.
Gary Lardy, CEO of IntelliQuoute feels that by insurance websites providing access to tools at all hours it allows shoppers to make more informed decisions. Additionally, there are greater choices available in the competitive insurance market. Shopping for life insurance online will save you money and time.
London International Insurance and Reinsurance Market Association (LIMRA) recently conducted a survey. They discovered that about 30% (35 million) of American households didn’t have life insurance. This is up significantly from 2004 where about 22% of households were without life insurance.
When shopping for life insurance, there are three policy options. Although it is less expensive, term life insurance only covers you for a set period of time, or term. The second choice, whole life insurance, is usually more expensive, but will cover you for your entire life and the payments are fixed. Finally, with variable life insurance policies, you have the option to put part of your premium in an investment fund, although the payment may change.
There are several choices available to you when choosing life insurance. The Internet has helped consumers better know their choices, as well as find out exactly what they need. Insurance has come a long way from the days of the door-to-door insurance salesman.