1. 63333 POINTS
    Peggy Mace, Certified Senior Advisor (CSA)®PRO
    CEO, Outlook Life, Inc, Most of the U.S.
    When you go to buy a life insurance policy online, you will run into a number of options. From the most to least automated, here are some of them.

    1) You put your information into an online application and your policy is issued within minutes. I have seen these websites come and go and am not sure how many exist online at this time. Premiums are comparatively high because they do little to no medical underwriting, and everyone may be lumped together at the same price. It puts a lot of responsibility on the individual to read the fine print.

    2) You enter your information online and get a quote. At this time, you fill out an application with an agent over the phone, or fill out the app online and then do a phone interview with the life insurance company. Because this type of policy digs a little deeper, premiums are more competitive.

    I like this option for people who are in a hurry or who hate to fill out paperwork. I do recommend at least talking to an agent before filling out the application with the company, as an agent can steer you in another direction if there is something in your profile that would cause you to be declined or rated up.

    3) You get a quote online, then email or talk to an agent to determine whether that is your best rate. Then you are mailed or emailed an application that you can complete and fax, mail or email back. There may or may not be an exam involved. At the end, you have a policy just like you would have had if you had gone to a local insurance office.

    This is a good choice for large face amounts and for people with health conditions. It allows us agents to be involved from the get go so that we can prevent problems and make sure the policy is issued at your best possible rate.

    The best part about buying life insurance online is being able to do it all from the comfort and convenience of your home. You can make it as automated or personal as you like. I hope the above helps you determine what option is best for you.
    Answered on September 9, 2014
  2. 1866 POINTS
    Paul RothPRO
    Senior Commercial and Annuity Specialist, Freedom Brokers, Marion, Carbondale, Harrisburg IL
    "How Much insurance do I need?" is probably the most asked question I get. And, quite frankly, unless you are willing to stop and think with me for 15 minutes I would have no idea. How long do you need the insurance? Convertible, or non convertible? Term, Whole, UL IUL? For what reason are you purchasing insurance? What riders appeal to you? And of the 20 or so companies you have been researching over the past 20 years are the best for your specific needs? What riders do you need? Why? In whose name? Who are the beneficiaries? Why?
    If you can answer all the above questions, you don't need an agent.
    If you can't answer all these questions, the results may be ruinous. If you insist on making this decision without an independent agent, you could spend your whole life creating an estate, and four minutes losing it online.
    Answered on May 6, 2017
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