Tech And Trends :- Life insurance has been a business that has been slow to take change in the marketplace. Current trends in consumer shopping have labeled the life insurance process a “dinosaur” in comparison. The bright side is that it is a platform that is slowly seeing change. Some life insurance companies still do things the old fashioned way with pen and paper but others, like Sagicor Life, are providing products that offer speedier underwriting and online application. This is the convenience that the consumer of today is used to, despite the product they’re shopping for.
The ability to buy life insurance through online channels has attracted the Gen X and Gen Y costumers which will help the industry grow. The reason it has become so attractive to modern day shopper is they’re no longer tied to one agent with one company but can compare quotes amongst all with a couple clicks of a button. This allows them to get the best rate for the same product and not have to worry about getting tricked by captive agents. However the internet isn’t without it’s own tricks so let’s discuss a few tips when doing your shopping online.
Beware of Giving out Personal Information
When comparing life insurance quotes online make sure you do not go with a website that asks for too much personal information on the quoter. The unfortunate truth is many marketing companies pretend to be life insurance agencies and will collect your information to sell it to call centers. This leaves you getting a ton of calls you didn’t want to receive from the same captive agents you were looking to avoid.
Work Only With an Independent Agency
Usually you will be able to tell when you are working with a real agency because you will be able to run quotes with no personal information upfront. However there is more than just the fact you can run quotes in peace. WIth an independent agency that is experienced, you will be able to get the lowest rate on the market specific to your situation. Each life insurance company will look at your risk differently (if you have one) and rate you accordingly.
Whether you do this on the phone with an agent or just browsing online, make sure you always compare rates with at least 20 companies(A-rated). You wouldn’t want to get stuck paying twice as much for the same exact product that you can get for much less. Keep in mind you want to always compare amongst reputable companies that are all financially stable.
So buying life insurance online is now a possibility but in the end it is a process that should always be accompanied online. The good news is you can educate yourself and look for the right agency to work with before you make a commitment than anyone. The internet has allowed us to be better armed against unethical salespeople and this is no different.