Coporate Profiles

Buying Life Insurance on the Internet:

If you are considering an insurance purchase over the Internet, be sure the company is licensed to transact insurance in your state. A Web site should disclose the states the insurer is licensed in. If the insurer is not licensed in your state, it should return the contract stating it cannot offer a policy. Here are some other prblems with online insurance companies:

1. May not let your know you're unqualified for a plan.
2. The company may be unwilling to explain the fine print of the policy to you.
3. Companies do not verify application data you submit online at that time.
4. There's usually no insurance agent between you and the carrier.
5. Underwriting requirements may not be posted, so you may not even qualify.


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6. Online availability of each plan may not be disclosed.
7. Online sites often ignore cholesterol guidelines.
8. All companies do not rate your health identically.
9. May not quote the most competitive companies.


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10. May not have agreements with smaller carriers (with possibly lower rates)
11. The site may hire unlicensed company employees to answer your questions
12. They might make higher comissions because of volume, and you become a number
13. You may be treated like a one time application or sale, especially if they do not service existing policies.
14. They could have different agreements with each carrier, creating monetary biases.
15. The company may not be appointed as an agent for every company shown.
16. May not explain riders (additions) or convertibilty options.
17. You might not get any advice about replacing your existing policy.

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