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The Life Insurance Quote Business is Booming, but is the Insurance Quote Accurate? The life insurance quote business online is booming. Not only are life insurance agents quoting a more diverse portfolio of companies, but consumers are also now able to quote life insurance online for themselves. In this article, I will analyze the impact of the life insurance online quote on the insurance industry, the insurance broker, and the consumer looking for insurance. In the not so distant past, life insurance was sold, not bought. The typical agent would travel door to door, network locally, and perhaps meet with potential policyholders for dinner at their home. The "debit" agent was also a common profession. These agents would actually go to their clients and collect the premium on a weekly basis. The life insurance quote came from a person back then, not a computer. These days, consumers can go online for a life insurance quote. The ability to readily compare the cost of life insurance among hundreds of life insurance companies has dramatically changed the environment. The biggest impact to the insurance industry is the fact that the cost of coverage has decreased significantly. This is good for the client, but is in effect shutting smaller companies down as the claims to revenue ratio is converging. Another impact is the fact that when consumers get an online life insurance quote, they are rarely coached as to what is the better deal for them. Often times, term life insurance is the only product that they are offered. The » Discuss it (all 2) » Continue Reading »
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