3 considerations when shopping online for life insurance quotes

The internet has made being able to obtain life insurance quotes fast and easy, all without having to leave the comfort of your home or office. However, it has also raised some concerns. The following are three considerations when searching the Internet for online life insurance quotes.

1. Be aware that your online insurance policy may change

Just because you plugged in all of your information into the website's system, doesn't necessarily mean that the instant online quote you received is the rate that you'll end up with. We're not saying that some life companies are trying to pull a fast one on you, but because many insurers typically require additional underwriting and/or a medical exam in order to qualify you for specific rates, you shouldn't bank 100 percent on that instant online quote. Instead, use the quote as a preliminary step towards finding an affordable life insurance policy.

2. Only get quotes from reputable life insurance companies

With the ease and availability for just about every type of business to set up a professional looking website, you need to be cautious about the company you choose to provide your personal information to. Before you begin keying in any facts about yourself, have a look around the website. Most reputable life insurance companies are happy to display how long they've been in business and other proud facts about their company. You can also verify a carrier's standing with your state's Department of Insurance.

3. Look for a contact number

A good insurance website will provide you with a contact number in which to speak with a real-live agent or company representative. They fully anticipate visitors to have additional questions, and won't make you hunt down a phone number in order to get the answers you need. Moreover, the financial professional or company representative should be able to answer specific questions such as whether or not the policy has a “free look” period — a time frame in which you are allowed to review the policy once it issues and to decide if you want to keep it.

Shopping online for life insurance quotes can be a convenient way in which to compare rates. Just be sure to take the time to consider who you're doing business with.