Name recognition opens doors for insurance companies. Companies spend money to connect their brand names to abstract ideas such as stability, reliability, and security.
It’s the consumer’s job to sift through the catchy marketing campaigns and assess the coverage a company actually offers. Any experienced shopper knows this.
But then there are times when a company connects its brand with a product they don’t even sell. You could call this the GEICO life insurance effect.
Did You Know GEICO Sells Life Insurance?
A few years ago I wrote a post about GEICO ranking first in Google for term life insurance even though it doesn’t even offer term life policies.
At the time, I thought GEICO’s tactics seemed deceptive: The company’s logo, gecko mascot, and brand colors greeted customers as they bought insurance from another agency.
Now, GEICO points out this distinction on its site. GEICO tells customers they’ll be leaving its site and linking to a different company when they ask for a life insurance quote. This provides some much-needed transparency.
But after clicking past this alert, customers will still see GEICO’s colors and logo, which implies they’re buying a policy from GEICO.
The page’s URL will tell you otherwise, but how many customers pay immediate attention to such details?
It’s up to the customer to dig a little deeper when shopping for term life coverage, but since GEICO is such a trusted name in auto and home coverage, shoppers may naturally think the term life policy they’re buying through GEICO’s site comes with the same reputation.
The Truth: GEICO Doesn’t Sell Life Insurance
You know this by now. Or perhaps you already knew before landing on this post.
Shopping for life insurance at GEICO will not get you a life insurance policy from GEICO.
The reason is simple: GEICO does not offer term life coverage. Instead, you’ll be getting coverage through a call center called LifeQuotes, Inc., out of Darien, Illinois. LifeQuotes, Inc., has a special quote portal featuring the GEICO nameplate and color scheme.
GEICO customers who click for a term life quote from GEICO’s site will get LifeQuote’s special GEICO-themed portal, so it’s possible a customer could still get the wrong idea.
I know I could be making too much of this. As I already said, GEICO does point out its partnership with LifeQuotes, Inc., explicitly. I no longer think they’re being intentionally deceptive.
But term life is such an important decision. You need to know exactly what you’re buying and who you’re buying it from.
With so many top life insurance companies out there that can help you find quality and affordable term life coverage, you may never consider LifeQuotes, Inc., except for its association with GEICO.
In a nutshell, here’s the point: GEICO is using its brand name to sell your information to another call center. This is pretty common online, but I’m still surprised to see GEICO taking part.
Anyone considering buying term life insurance from GEICO — especially existing GEICO auto or home customers who expect to have a similar experience with a GEICO term life policy — should understand this relationship.
Life Insurance Offers Through GEICO
GEICO lists a lot of quality life insurance companies on its site: almost 50 companies, many of them household names. This can give consumers the idea their coverage through GEICO could be connected to these names.
However, GEICO connects you to only one company, the aforementioned LifeQuotes, Inc., of Illinois.
So rather than reviewing GEICO’s life insurance policies, which don’t exist, this post will review the services LifeQuotes, Inc., offer on behalf of GEICO.
LifeQuotes, Inc., and Its Affiliation with GEICO
Other than its affiliation with GEICO, why else should you consider getting term life coverage through LifeQuotes, Inc.?
Let’s give LifeQuotes, Inc., some credit. They offer over 30 life insurance companies. They’ve been around since 1984 when they were called Quotesmith. They’re obviously doing some things the right way.
If you came upon the company’s home page after a Google search and retrieved some quotes for term life coverage, we don’t think you’d be making a terrible mistake.
But this is just the beginning. The point of an insurance agency, whether online or in-person, is to do things you can’t do yourself.
Things like having a conversation with you and determining your specific needs and concerns as you shop for coverage, then seeking quotes from insurers which excel specifically in meeting needs like yours.
And this is where I think GEICO via LifeQuotes, Inc., gets it wrong.
What Happens With Your GEICO Life Quote
When LifeQuotes, Inc., gets referrals directly from GEICO’s site, Life Quotes has a team of outside sales agents working from their call center selling from scripts.
When you request life insurance, your information is entered into dialing platform and will be dialed for at least 90 days until they get a yes/no answer from you.
This isn’t how life insurance should be offered. You should be able to have a real, unscripted conversation and not be bothered by robo calls.
And, you should be able to compare life insurance quotes online and have access to an experienced agent to answer your questions – especially if you have specific health issues.
For example, some insurance companies’ underwriting processes favor applicants with certain health conditions which could save you a significant amount of money as you try to prepare for your family’s future.
A call center agent typically doesn’t have this level of expertise. It’s possible some do, of course. But call centers value volume, and you can’t achieve a high volume by having a long, one-on-one conversation with a single customer.
In contrast, an independent life insurance insurance agent makes it his or her life’s work to help consumers find the best life insurance options.
Independent agencies like ours can help you sift through the fine print and offer decades of experience dealing with quality life insurance companies.
Not All Insurance Policies Work the Same Way
Cars and homes have assessed values which make them simpler to insure. Your policy can be set up to replace the value of your property if it is destroyed or damaged. Yes, there are variables to consider and state laws to follow, but you have a simple goal.
Life insurance is different because your life cannot be replaced. Instead, you can try to replace the income you would have brought in for your family. You can try to anticipate the future needs of your family if they were forced to rebuild a new life after you had died.
Determining the risk to your life can be more complicated, too, when you consider medical conditions, occupational hazards, hobbies, and the results of a medical exam.
That’s why a company can like GEICO can excel at auto and home coverage but decide to contract with a third party for life insurance.
Life insurance is personal. Our personal touch is to make sure we match you with a carrier that views you with the highest rating. We’re not a call center agent working from a script.
Our experience and knowledge of finding the best life insurance rates for our clients, even in high risk situations, is second to none.
Please feel free to compare instant life insurance quotes on our site, fill out our quote request form or call us if you have any questions