Buying Life Insurance Online: Is it Safe?
Buying life insurance online is a topic that leaves many consumers questioning the risks and benefits. In our modern world, we turn to the internet for everything from investments to banking to shopping. Buying life insurance online is yet another way consumers are leveraging the internet to make major purchases from the comfort of home.
There are several leading online life insurance brokers who offer consumers all of the insight and assistance offered by traditional brick and mortar brokerages – from a convenient online interface. Imagine having the ability to review and compare hundreds of life insurance plans, from your home or office. By completing your research online you can evaluate your options and select a plan without the pressure often associated with a live agent.
Just How Safe is Buying Life Insurance Online?
It is important to check the legitimacy of the site(s) you are considering, before buying life insurance online. The site should display an insurance license in your state, though most legitimate online life insurance retailers will be licensed in all 50 states. It is also a good idea to check with the Better Business Bureau to ensure the site is in good standing before divulging any personal information. Finally, be sure to determine which type of site you are considering. There are three distinct types of sites that offer life insurance online: broker sites, corporate sites and lead capture sites.
Life Insurance Broker Sites
Broker sites are hosted by insurance brokerages who offer coverage from multiple insurance carriers. These sites enable you to price compare across many different insurance providers in a single interface.
Corporate Life Insurance Sites
Corporate sites are hosted by a single life insurance company and enable you to price compare only among their own life insurance products. When visiting a corporation site, you won’t be able to see quotes from other companies.
Life Insurance Lead Capture Sites
Lead capture sites often look very similar to a broker sites, but instead capture consumer information which is then sold to insurance companies and brokers. These sites don’t provide an online quote, but you’ll receive phone calls or emails from agents or brokers with multiple quotes for you.
Though each type of site ultimately provides insight into plans and pricing, the shopping experience is quite different. Regardless of the type you choose, to use, be sure any site you share personal information with is secure and again make sure their licensing credentials are clearly displayed.
What Type of Site is Efinancial?
Efinancial is an insurance broker licensed in all 50 states to sell life insurance online. Working with hundreds of insurance carriers we offer a wide variety of whole life and term life insurance products with no pressure or hassle. If you’re interested in buying life insurance online, check out our life insurance search engine and learn about your coverage options.
Still have questions about buying life insurance online? Speak with one of our licensed insurance brokers or share your thoughts below.
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