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It's a fact: millions of Americans don't have any life insurance, and millions more don't have enough to provide the proper security for their family. Which is unfortunate, because life insurance can be very inexpensive for the coverage it provides.
There are many companies that offer life insurance, but how do you know you're getting a good deal? TopConsumerReviews.com reviews and ranks the top life insurance providers available.
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Granted, life insurance is not one of the most exciting products you can buy. That may be why millions of Americans are uninsured or underinsured, and don't even know it.
Which is unfortunate, because life insurance premiums have dropped by 50% over the last 10 years. In fact, life insurance is more affordable now than at any other time in history. If you're somewhat healthy, you can buy a lot of insurance without spending a lot of money. That's partly because people are living longer; those savings are passed back to you in the form of
lower payments.
The most inexpensive form of life insurance, and the kind that generally gives you the most value for your dollar, is term insurance. With this type of policy, you pay a premium each month for a certain number of years (usually 15, 20, or 30). If you live beyond that term, your coverage is ended (although you may extend under certain circumstances); if not, your beneficiaries
receive the face amount of the insurance policy.
How much insurance do you need? As a rule of thumb, experts say you should have between 7 to 10 times the amount of your annual salary. And you shouldn't rely on your employer's life insurance benefits only; typically their value is much less than what you need, and is not portable should you change jobs. SmartMoney
offers an easy-to-use worksheet to calculate how much life insurance you need, which you can access here.
There are a variety of factors to consider when looking for a life insurance. Some of these include:
• Cost. Life insurance rates are very competitive. You don't want to overpay for the coverage you need.
• Insurer. You want to be sure that you're buying life insurance from a quality company that will be around for the next 30 years.
• Convenience. How complicated is the process to apply? Do they offer a variety of payment options? Do they give you multiple ways to contact them?
We hope you find this information valuable in finding the best life insurance policy for you!
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Efinancial offers a free, quick and easy way to compare multiple life insurance quotes side by side. Simply enter in your personal information, answer three simple medical questions, and Efinancial
will offer you quotes from at least four top-rated life insurance companies.
After entering your information, the first option you are given is to see a quote from Fidelity Life, which offers moderately priced plans without the need for a medical exam. Fidelity Life applications are also usually approved within 24 hours. This is a great option if you don't want to deal with medical exams and want to complete the entire transaction
online.
Efinancial also lets you compare four different quotes side-by-side. The insurance companies that Efinancial draws from are top-rated in their industry, and are all well-known and established companies. We liked the fact that the quotes all included the length of coverage, annual premium, monthly premium, the purchase rating, and the chance to
request an application.
If you find a company you like, then you simply click on "request an application", where you are given simple instructions on how to proceed.
The Efinancial website is also loaded with valuable information covering virtually every aspect of life insurance. From insurance needs and life expectancy calculators, to articles that explain different types of insurance and tips on purchasing, this site is truly information-packed and worth a visit whether you decide to register for
a free quote or not.
Efinancial is a secure website, and they are members of the Better Business Bureau.
Efinancial gives you an easy way to shop for top-quality life insurance 24 hours a day, from the comfort of your own home. They constantly monitor over 100 life insurance companies and allow only the best and most competitive insurers to fight for your business. With an easy-to-use website that delivers unmatched customer service, Efinancial earns
our highest
rating.
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Eterm is another very good service that delivers free, low-cost rate information from a collection of highly rated insurance companies.
After entering some basic information about yourself, Eterm instantly compares insurance quotes from each of their insurance companies. Once complete, you are presented with the lowest-cost insurance carrier for your desired plan. Eterm also displays several options for your insurance plan, such as a variety of coverage terms. If you see a plan that
you'd like to pursue, you simply click on the "Application Request" button where you are asked to enter additional personal information. The entire process takes less than 5 minutes.
While top-rated Efinancial shows you the top 4 competitive companies and their respective rates, Eterm just shows you the lowest overall rate, as well as some helpful insurance options. This is very handy information to compare with Efinancial's results - and after all, both services are completely
free.
Since 1986, Eterm's founders (CIGI Direct Insurance Services) have worked to provide low cost term life, universal, whole life, and annuities products to consumers and insurance experts alike. They represent only those insurance companies that are rated A++ (Superior) to A (Excellent) by A.M.Best. And by interviewing the senior management of each insurance company
they
refer, they have a level of knowledge surpassing most of their competitors.
Eterm represents a very easy way for you to shop multiple insurance companies for the lowest price. With a simple-to-use website and over 20 year's experience in delivering low-cost quality insurance plans, Eterm earns very high marks.
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InsureMe is a free referral service that makes it easy to find life insurance for you and your family. InsureMe is an easy site to navigate and offers the chance to get life insurance quotes from multiple agents. You start by simply entering your zip code, after which you are directed to personal information page.
Once you enter all of your information and answer some health questions, you are "matched" with various insurance companies. You will then be contacted by someone from each company you are matched with.
InsureMe explains clearly what it is - a referral site. It is designed to match you with various insurance agents who can help you get the type of policy you need. You will need to be prepared to do a lot of the comparison work on your own as you talk with several different agents and companies.
InsureMe is an easy site to use and explains clearly what they do - refer you to agents. The site is secure and backed by the Better Business Bureau Online. They are able to find agents in all 50 states to help you cover your life insurance needs.
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InsuranceFinder offers a complete spectrum of insurance needs, from life insurance to home, auto, annuities, and specialty coverage. For our review purposes examined the life insurance section of the website. InsuranceFinder is designed to help you find an insurance agent so you will not be able to actually view quotes online.
Once you enter the type of quote you want and your state, you are directed to a page that lists agents in your area. If you click on the "Get Quoted" option, you are taken to another page where you fill out your personal information and details on the type of policy you want. Then you wait for the agent to call you back.
The website is professional and easy to use, however if you are looking for a quick side-by-side rate comparison to give you an idea of what you need to budget, this is not the site for you. Ultimately you will have to deal with an agent. While not necessarily a bad thing, still InsuranceFinder does not allow you see any detail before dealing with an agent.
InsuranceFinder offers a quality service of helping individuals find an insurance agent with a reputable company. If you want to find an agent quickly, and don't care about seeing competitive rate information online, this is a good site.
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InsureLane is a user-friendly website that is very easy to navigate. The site offers a complete line of insurance products, including life, health, group, dental, auto, and homeowners' quotes. For our review purposes we looked at their life insurance quote process.
InsureLane tends to be a bit misleading regarding what they offer. While the quotes are free, you do not get your quotes after completing their brief application process. Instead, when you click on "get me up to 5 quotes" you will be directed to a page that informs you they have sent your information on to insurance agents and you will be contacted
in the next 24-48 hours. While it is true that the quotes are free, you do not get to compare anything prior to getting calls from multiple agents. We feel this defeats the purpose of what most people are looking for when they visit an online quote site.
InsureLane is really a "lead" site for insurance agents. The site is easy to navigate and delivers on its promise to get you quotes, but be prepared to talk with agents directly and negotiate one-on-one.
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NetQuote is a quote referral site for insurance agents. The quotes you will receive are free and they are available in all 50 states, however you will not be able to view any quotes online. NetQuote walks you through a basic health questionnaire and then submits that to insurance agents you have been matched with.
After you complete your application, you receive an email that lists all the agents in your area that you have been matched with. Your phone number and email address are given to these agents, who will then start to call you. While technically delivering on the promise to give you multiple quotes, it does not give you the chance to do some initial research without
the hassle of an agent. Eventually you may want to speak with an agent however, so this service is still helpful.
NetQuote does give you some helpful information in order to be prepared when an agent calls you. They give you 5 questions to ask the agents in order to help match you with the best one. They also give you a buyer's guide for purchasing life insurance as well as tips to help you save on life insurance.
NetQuote is a secure website that is easy to navigate. We just wish they didn't force you into talking with an agent to get your quote.
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Life Insurance in the News
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