Online Life Insurance...Do I really need to speak to an advisor in the year 2024?

Introduction:

Yes it is 2024 and insurance has evolved to an online haven of information, quick and free quotes, easy to complete online applications. And in some cases instant or near instant approvals. So can't I simply log on, put in my information, and have a policy, easy peazy?

With that said, yes you can easily get a life insurance policy online, no problem, however there are 6 questions to ask yourself!

1. Is this policy accomplishing the goal I have for life insurance? 

What's your dream life insurance? Imagine one that's reliably there, ready to support your family exactly when they need it most. That's the heart of a policy that works. To craft this lifeline, it must be:

1) Affordable – Let's be real; if it doesn't fit your budget, it won't get paid. And an unpaid premium equals no coverage – that’s a risk you can't afford.

2) Tailored to perfection – With a plethora of life insurance options and riders at your fingertips, you can weave the perfect safety net. Ask yourself: How durable is this policy? Will it accrue cash value?

Choose wisely – your family's safety net depends on it!

3. Is this the right amount of policy to protect my family in the way I need it to?

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4. Does this carrier cater to my specific needs and situation?

When applying for life insurance online, you, as the applicant know yourself very well.

-Medical history

-Financial past

-Risk factors ie... speeding tickets

The underwriter's job is to access the risk insuring your life imposes on them and charge you accordingly. If you speak to a well educated insurance advisor about the specifics of your history, they can pair you with carriers who tend to lean more favorable to your diabetes or heart condition.

Having a working knowledge allows the advisor to place you with the most compatible carrier. The benefit is the best plan at the lowest price, as well as avoiding a declination.

5. How much life insurance do I need?

There are a plenty of online calculators that will ask you financial questions and spit out a recommended amount to fill your life insurance needs, but hopping on a call to talk it through, can prove extremely helpful in weeding through the necessities of determining this seemingly arbitrary number.

Do I include all college tuition?

Do I cover my mortgage and contents of the house?

How many months of income will. my family need?

Is it enough? Too much?

An advisor will go through this with you to find an amount that both meets your goals and stays within your budget.

6. What is the difference between policies and carriers?

Not all carriers and policies are created equal. Nor do they all accomplish the same goal.

We work with top rated carriers we trust.

Policies come in many shapes and sizes, speaking with an advisor could help you decide which type of policy will be there to meet your family's needs on one of the worst days of their lives.

I wouldn't advise getting the same policy as your co worker. No two people are the same! Your needs and history may vary greatly and thus, your best carrier and policy will as well.

In Conclusion:

You may certainly jump on your laptop, figure out how much life insurance you need with an online calculator, receive a few free quotes, decide on a policy and apply. But be aware, the quote you receive may not be the price you end up with. We can discuss underwriting in another blog. There is a lot that goes into deciding the price they but on you as a risk.

Speaking with a licensed insurance advisor will give you the best chance of obtaining the life insurance policy that will check the boxes of all the questions above. You don't want to pay for something that doesn't provide the protection your family needs when they need it.