Disclaimer: We are not affiliated with Zander Insurance. We are a direct competitor and this article is our review of Zander Life Insurance.
Before I get into my Zander Life Insurance review, let me clarify that I respect Dave Ramsey and think he’s a great advocate of debt-free strategies. However, I disagree with his recommendation of Zander Insurance.
The first thing every consumer should understand is:
Zander Insurance sponsors the Dave Ramsey Show.
In other words, Dave Ramsey receives some sort of compensation to recommend Zander. Perhaps that's the reason why Zander received the endorsement? (see a comment below this article from a Zander Insurance employee who explains it goes much further than the endorsement)
These are the reasons why I feel Zander Insurance falls short compared to truly independent life insurance agencies:
Selection of life insurance carriers.
Zander Insurance only offers less carriers than an life insurance agency like ours.
There are several highly rated and competitive carriers they should be offering which most independent life insurance agents represent. If we have access to over 50 life insurance companies to find the lowest rates, there's no reason Zander Insurance shouldn't.
It baffles us why they wouldn't offer more companies that are very competitive for certain risks.
They offer blanket advice.
Above Zander Insurance’s Quote Engine, they feature a quote by Dave Ramsey that states:
“…most people with families need 10 times their income in coverage and I recommend 15, 20 and 30 year guaranteed level plans depending on your age…”
It’s this sort of blanket advice that will result in being over or under insured. Everyone’s situation is different and every family has unique needs. All it takes is a few minutes to listen to what you are trying to accomplish and make a recommendation. Life insurance is not "one size fits all".
Incompetent for Consumers with Health Impairments
I decided to write this Zander Insurance Review because I had a consumer (now a client) call me who was declined from Zander with one of their major life insurance companies.
The reason for the decline was his PSA’s were rising over the past 2 years so they told my client no other life insurance companies would cover him until he got his PSA’s under control. However, his PSA’s have actually come down over the last 5 years and for a 70 year old they are within normal range. I secured this gentleman a Preferred Plus rating with Prudential. A top rated life insurance carrier that Zander Insurance won’t offer.
If Dave Ramsey really cared about the debt-free strategies he preaches (which includes saving his followers money on their life insurance) he would recommend using a different agency.
Yes, we are a direct competitor to Zander Insurance and we write this article as a warning to consumers.
There are many agencies and agents out there that actually practice what Dave Ramsey preaches and will find the lowest cost life insurance on the market for their clients.
We recommend contacting an independent life insurance agency. A good litmus test is asking your agent how many companies they represent. If it's over 25, chances are they are independent and work on behalf of you and not any life insurance company.
Again, we mean no disrespect to Dave Ramsey. We just believe you should know that he gets paid to recommend Zander Insurance and it's likely you can find better life insurance rates.