The life insurance industry is yet another business vertical that has experienced a rebirth since the onslaught of consumer internet use. What was once a brick and mortar business model is now thriving on the web. Though there are still plenty of traditional agencies in operation, there are many online life insurance agencies that cater to the modern consumer. How is this impacting the industry as a whole? Where to begin…
Shopping for a Policy
Shopping for and comparing life insurance policies on the web is undoubtedly much easier than the traditional method. Some agencies, including IntelliQuote, offer instantaneous online life insurance quote comparisons. What once required a visit to a life insurance agent, or contacting several carriers directly, can now be completed by simply completing an online form. The applicant then receives a side-by-side comparison of the most competitive life insurance quotes immediately. In short, shopping for online life insurance is faster and easier on the web.
Applying for a Policy
Once the applicant has selected an online life insurance policy, the application process can also be started online and completed over the phone; again saving valuable time.
Receiving a Policy
Online life insurance policies can even be received electronically via a secure website. Rather than receiving cumbersome policy information packets via mail, policy holders can receive and archive this information electronically.
Managing a Policy
Managing an online life insurance policy is also simpler than making changes to a traditional policy. Major life events, such as getting married, the birth of a child or the loss of a loved one, have a direct impact on your financial responsibilities. Imagine begin able to quickly and easily make changes to your beneficiaries from anywhere, yet another advantage of online life insurance.
Put simply, online life insurance makes the entire process of owning a policy simpler. From shopping, to purchasing and managing your policy, online life insurance is the more convenient option.
Some consumers are still weary of the process of making major purchases online. If you fall into this category, buying online might not be your best option. On the other hand, those who purchase online life insurance sometimes forget to print or hold onto documentation about their policy. This can make it difficult for beneficiaries to track down policy information when the time comes to make a claim. If you buy online life insurance, we urge you to share basic policy information with your beneficiaries to avoid such an issue.
Ready to learn about your online life insurance options? Contact us! With no obligation to buy, our team of licensed agents is here to discuss your needs and help you find a policy that works for you.
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