How To Shop For Life Insurance Online

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How To Shop For Life Insurance OnlineShopping for life insurance online can be a bit overwhelming.  With so many options, it's natural to want to know the best way to shop for life insurance online.

If this is your first time purchasing life insurance, the best advice we can give you is to consider these 3 tips before you do anything else:

1.  Figure out the type of life insurance you need.


There are different types of life insurance available.  The first thing you should determine is what type of life insurance you need.  Life insurance policies are grouped into 2 different types:

  • Term life insurance.  Term life  insurance is the least expensive form of life insurance.  It has guaranteed level premiums, however the life insurance expires after a specified amount of time - usually 10, 15, 20, 25 or 30 years.

    Term life insurance is for temporary needs.  For example, many purchase life insurance while their children are financially dependent on them or for income replacement until they reach retirement.   Others purchase mortgage life insurance to keep their family in the house if something were to happen to them or term life insurance to cover other debt obligations they don't want their family burdened with.
     
  • Permanent life insurance.  Permanent life insurance comes in the form of "whole life insurance" and "universal life insurance".   This coverage is more expensive than term life insurance, however the coverage can be structured never expire.

    Permanent life insurance policies are used for permanent protection needs like estate planning and taking care of debts and final expenses.  It's also used by some consumers for cash value accumulation. 
     

2. Decide how much coverage you need.

Once you figured out what type of life insurance policy you want to purchase, determine how much coverage you'll need.  If you don't know this number, The Life Foundation has a great Life Insurance Needs Calculator.

Keep in mind that it's ok if you can't afford your ideal amount of life insurance coverage.  For many, it's something they continually revisit because your needs change all the time.  Just make sure you get something to protect your family and re-visit it whenever you can.

3.  Find the company that's right for you.
 
It's important to understand that every life insurance company looks at your health and lifestyle differently.  Some of them more favorably than others.  The key in obtaining the best life insurance rates is finding that company that look most favorably at YOUR situation. 

This is when you need to speak with an independent life insurance agency who can determine which company will give you the best rates.

That's exactly what we do for you at our agency.  We understand every life insurance carriers underwriting guidelines and are able to take anyone's unique risk and reference it across over 50 of the nations top rated life insurance carriers.

If you're ready to move on or have any questions, you can request an instant life insurance quote from our website or call us at 888-430-7668.
 

About Jeff Root

is the owner of rootfin.com. He’s an independent life insurance agent who has helped 1,000’s of consumers purchase life insurance online and over the phone.

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