Should You Buy Life Insurance Online?
Reader’s Question:
Should I follow my friend’s advice and shop for life insurance coverage on the Internet, instead of going with a broker or agent?
Shelly
Hartford, CT
That’s a good question. There are many excellent reasons to forego consulting different agents or having to hire brokers and instead, shop for the best life insurance coverage online. In fact, buying life insurance coverage over the Internet has become quite popular nowadays, thanks to websites and resources like the ones listed below:
1. Insurance Comparison Portals
These are websites that allow you to run a free quote check and compare life insurance rates coming from many different companies. With the help of these websites you can save a lot of time and effort looking for the best rates without the need to hire any brokers or call different agents.
2. Independent Raters
Agencies like Moodys, Fitch, and J.D. Power have websites that publish the ratings and performance of many different companies. They are an easy way to find out which life insurers have the best customer service, claims handling, financial stability ratings, etc. in your state. Finding a quality provider is now easier than ever, and it won’t cost you a dime to do so.
3. The Better Business Bureau
So you have a few life insurers in mind, but want to know if they have any shady practices or bad history when it comes to dealing with their customers? Go to the Better Business Bureau website and find out. Often times this can save you from a lot of hassle and frustrations that comes with choosing the wrong company.