Being prepared and protected is one of the most important things in life as we never know what can happen. Different unfortunate events can happen anytime. With this, it is important to have your family protected from any financial impacts that an unwanted event can cause. There are different types of insurance policies and types of coverages you can choose from. It can be complicated to choose which one is best for you as there are many factors to consider such as your needs, your medical conditions, your beneficiaries, and such.
More and more people have been joining in the trend of purchasing an instant life insurance policy instead of a traditional term life insurance policy. As acquiring an insurance policy can be a tedious process, people may be more encouraged to avail of a life insurance policy online without any hassle. Technology has made this possible. Not only can you get an instant quote, but it’s the whole process. The application, underwriting, and approval happen online.
Before we get to the advantages and disadvantages of instant life insurance quotes, you may first want to know what instant life insurance is and how it works.
Instant Life Insurance
With instant life insurance, you can avail of the same options and coverages just as the traditional term life insurance policy. You are the one who will be deciding on the death benefit, the term length, and your beneficiaries. You can choose how much death benefit you want to leave your family and who among them will become the receiver of this death benefit. Also, you can choose how long your coverage or instant life insurance policy will last. It can be from 2 years, 10, up to 20 years.
The main features that differentiate instant life insurance from traditional term life insurance are that the whole process can be done online, even its underwriting, and approval process.
The Advantages of Life Insurance Quotes Online and in an Instant
An insurance quote is an estimate of how much you will be paying a premium for the insurance policy you will be chosen depending on your needs and other information. This is provided by your insurance company or agent. However, now you can get it in an instant online!
Free
These online insurance quotes are free of charge. There is no payment needed for getting an online insurance quote. It is often a service provided by different insurance companies through their website. You can try it now and click for instant life insurance quotes here.
Better Analysis
Through having different available online quotes from various websites, you can avail of all of them and acquire more than enough information you need to compare which insurance company will be the best for you and your financial health at the moment. You have been provided with a wide array of insurance options together with its corresponding premium rates.
The Disadvantages of Life Insurance Quotes Online and in an Instant
Although online quotes are advantageous for interested in potential insurance policyholders, it also poses risks and disadvantages you need to be mindful about:
Scams
Because the internet is easily accessed by anyone and anywhere around the world, people who have intentions of deceiving others and even potential clients, can now easily execute it online. What you can do is be careful about which insurance website you get your online insurance quote. Make sure it is a credible insurance company.
After considering these advantages and disadvantages, the next thing you need to weigh is the advantages and disadvantages of instant life insurance itself:
The Advantages of Instant Life Insurance Policy
Life Insurance Quotes in an Instant
Without any personal information required, you can already get instant quotes. Typically, when acquiring a quote, you need to provide personal information like your name, address, and others. This can be risky especially when done online. Also, other websites may offer instant quotes yet you may still end up being asked through long phone calls from them which are not very instant at all. You just need to find the right website for you to get a real instant online quote.
Hassle-free Application
You can access the application form any day and any time since it is available online. More so, instant life insurances have real-time underwriting. While you complete your application form, what you type in is already pooled and evaluated for approval.
Online Payment
With an instant life insurance policy, you can pay online. Most people opt to pay through a credit card or debit card.
No Exams
Instant Life Insurance Policy does not require any physical or medical exam. Besides avoiding the needles, you also get to avoid the cost of having a medical exam fee and the time consumed by conducting it and waiting for the results.
No Agents
By availing of the instant life insurance policy, you will be avoiding the agents that may sometimes be so persistent that they may take too much of your time. More so, it is possible that you may not get along with the agent that will be assigned to you. In an instant life insurance policy, you won’t have to deal with any agents at all.
No Waiting Period
You may not probably know it but an application for insurance can reach up to three to four months of waiting. It may take three to four weeks of application and three to four months of waiting for the approval of your application. It can be tiresome and you may never know what can happen within the months of that waiting period. A client may even regret applying for it because of the long waiting period. What hurts the most is when after all the waiting, you receive an email or a letter saying your application is rejected.
Instant Answer to Your Application
Without a waiting period, you will get instant approval or rejection with your application period, especially because of the real-time underwriting the instant life insurance policy offers.
All Online
Instant Life Insurance Policy can be completed without any paperwork needed to be submitted to an office or whatnot. It is all online and you get to have an extremely fast approval time compared to traditional term life insurance.