19 March 2013 0 Comments

On-Phone Life Insurance

Woman on phone forr consultationMy last entry discussed purchasing life insurance on-line and how it falls short.  For those who still want to simplify the process—without an in-person encounter with an insurance agent—there is a viable solution:  the on-phone purchase.  This process can be especially effective when purchasing term insurance since it is probably the least complex of life insurance contracts.  Even when the need extends beyond term insurance the phone interview can be an effective source, so long as the on-phone agent has access to expertise that goes beyond just term.

There are a number of direct marketers of life insurance that will transact the purchase of life insurance by phone where the process provides a complete array of competitively priced policies.  Just as with on-line encounters, be sure to talk to an on-phone agent who is other than the employee of a single insurance company.  Even a direct marketer listing several insurance company resources might be owned by one of those companies, so ask the agent to whom you are speaking about that agency’s ownership.  If there is no ax to grind, the likelihood of receiving an unbiased recommendation is greater.

I guess you can say that I have an ax to grind inasmuch as my blog is sponsored by SelectQuote, the largest direct marketer of life insurance in the U.S.  But, I am comfortable with them because I know that their recommendations are backed by the most sophisticated multi-company computer search engine in the field and their phones are staffed by well trained professionals in a commission agnostic environment.  I have also been a close personal friend of their CEO for many years and am comfortable with his business philosophy.  And, when they need assistance with more complex cases, they look to me for assistance, not as a commissioned agent, but as a consultant to the firm.

When dealing with SelectQuote, you can either make a direct call to 800-670-3213 or go to www.selectquote.com and provide some basic information in order to streamline your call when you do talk.

Regardless of who you talk to, whether it’s an agent by phone or a local agent at your office or home, be sure they have all the facts before they quote a premium.  Anyone, or any website, can quote the Super Preferred Premiums, but will you qualify for them?  Also, try to match the duration of your protection with the duration of your need.  Ten year term is cheaper than twenty year term, but is that what you should be buying?  Get all the facts before you make a decision.

Next, I’ll be discussing some avocations and occupations that may create a challenge when applying for life insurance. 

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