There are thousands of brokers with internet sites and all are not created equal. Very few actually work with the company that you visited. There is a huge business now of building sites that generate life insurance quotes online. These sites have information about life insurance and usually other products and their only purpose is to generate leads that they can sell. Rate Supermarket is an example of this type of online life insurance quote site. Another method is to have pop up adds on financial publications and newspaper websites that generate leads they can sell.
They make their money generating online life insurance quote leads and selling them to people for a significant profit. They have little interest in either the training or the follow up of the people purchasing their life insurance leads so you should avoid them. Many of these brokers will find that the cost of paying for these leads does not work and they drop out leaving their clients without anyone to go to for questions or additional services. Check to see if the company that you are using has been around for a while and that it has brokers who are captive to them. That is a company that does not sell leads but rather passes them on the brokers they check out and train and work exclusively for them.
One of the few who qualify based on `this is IDC Insurance Direct Canada Inc. who has a captive base of brokers with over 160 years of experience and they do not sell their leads to them. They have been providing life insurance quotes online since 2003. With almost 7000 policies from over 15 different insurance companies on their books, this company will also will be there if you have an servicing questions going forward which might not be case for someone who is buying leads.
Another practice with a few brokers who do life insurance quotes online is lowballing the quote. One of the tricks is to quote the very best rate that only about 10% of the people can qualify for. They figure once the person has gone through all the effort to apply for the insurance and visit with the nurse, they will take whatever offer they get. The problem with this is that one company, RBC Insurance, has excellent preferred plus (best possible) rates that comes up for online life insurance quotes but very few people get it and they may not be the best choice for the majority who will not qualify for this special rate. Their underwriting is tighter than some companies. A professional broker will have a conversation with you about your age, health, lifestyle and smoking status to and provide you with a realistic evaluation of what rate you will qualify for.
Another problem is that these inexperienced brokers may proceed with an application for someone with significant health issues without having a conversation about the implications of someone getting rated or even declined. We get people completing online life insurance quotes were already rated or declined which significantly reduces their options.
Another source of life insurance quotes online is banks, insurance companies and other financial institutions. Why go to a company that can only sell their product when you can have the services of a true life insurance broker at no additional cost. Find out all your options for an affordable life insurance policy as opposed to what one company can offer. If you have an issue with a claim, who will be there to help when you purchase it directly?
You will be spending thousands of dollars over your lifetime on life insurance. Spend a few minutes before settling on who you will be purchasing it from.