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What To Expect Buying Life Insurance Online
First determine how much life insurance you need and you're half way done. You may want to use this easy Life Insurance Calculator to get started.
Naturally the higher the coverage amount, the more the policy will cost. The less insurance you need, the cheaper the life insurance will cost.
Above all, stay within your budget. While it may seem appealing to have a huge amount of money for your loved ones, it won't be there in the end if you cannot afford the payments, and will ultimately be a waste of money.
Buying life insurance online is now just like buying it from a LIVE agent. You need to answer some questions about your health and age. The forms can be long depending on the life company that issues the insurance policy so prepare to spend a fair amount of time (maybe 20 minutes on the phone) once you see your instant online quotes.
Then there's the exam. Many companies, depending on which quote you select, require a nurse to come to your home or office, draw blood, take blood pressure readings, and help complete the medical exam* questions on the application. It's actually nice because they come to you, and there's no charge! I had her come to my house at 7am before leaving for work one day. (And honestly, the life insurance company does this to protect their interests in case you are not telling the truth about your health situation.)
*Read our Life Insurance Exam Tips and Advice article on how to get the best results when taking the life insurance medical exam.
As for choosing which life insurance company to buy from, there are many. It is very safe as long as you stay with the more reputable companies, those you've heard of for some time, those with the highest financial ratings, and not always those with the cheapest life insurance premiums (although often times they can be the best too). Ask the life agent over the phone to help you navigate these waters as well. He or she legally will be a licensed agent who will often have more information as well.
Like everything else that requires the signing of a contract, you should be sure to read the entire set of papers that will be presented to you. Life insurance can be tricky and hard to understand, although it should not be, and you should ask many questions of the agent before agreeing to the policy.
Also, most online life insurance companies have people available during normal business hours to answer all of your questions so feel free to call in.
Comparison shop and you will see that there are more than enough companies to meet all of your life insurance needs online.
I bought my first policy online in 1997, well over ten years ago and I asked many questions before deciding. Just be sure that you also make a wise decision when it comes to the policy. You will want to make sure it offers all the coverage you need at an affordable price that fits well into your budget. You'll be happier once it's in place.
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