| In today's information age with immediate access to | | | | through the important processes of determining how |
| thousands of websites, agents, and resources about | | | | much protection you need and how long you need |
| life insurance, more and more consumers are turning | | | | the protection. |
| to the internet for their life insurance needs. So the | | | | There are several very reputable online sites that |
| question becomes, does buying financial products, | | | | offer information about, quotes for, and will assist |
| specifically life insurance online make sense? There | | | | you with the life insurance process. In my opinion, the |
| are several things you may want to consider before | | | | best of these are Matrix.com, |
| you take the figurative "plunge into the deep-end" of | | | | WholesaleInsurance.net, and |
| the financial pool. | | | | My personal favorite is WholesaleInsurance.net due to |
| First, buying anything online has its pros and cons and | | | | their extensive library of insurance terms and |
| life insurance is no exception. While most would agree | | | | terminology, and insurance uses. They also have one |
| that life insurance is an important resource and | | | | of the most extensive line-ups of insurance |
| protection to have, not everyone agrees on the | | | | companies in the industry. But here is the important |
| type of insurance you need. | | | | part - they offer a one-on-one consultative approach |
| Many like Suze Orman and Dave Ramsey tend to be | | | | to life insurance, no pushy sales people, no thank you |
| adamant and vehement supporters of term insurance | | | | for the order, just good old fashioned service. |
| only. Others, especially financial planners and advisors | | | | Nicole Ward, Business Development Director of |
| are seen as "pushing" permanent or cash value | | | | WholesaleInsurance.net, had these recommendations |
| insurance like whole life and universal life insurance. | | | | when make any purchase online, specifically life |
| The truth for most people lies somewhere in the | | | | insurance: |
| middle, they have a need for some form of Term | | | | 1) Find out who you are doing business with, check |
| (temporary) and Universal or Whole (permanent) life | | | | there Better Business Bureau rating and complaint |
| insurance. The exact blend will vary by person and | | | | history. |
| situation and a "Financial Professional" can and will help | | | | 2) Make sure that they have a privacy policy and |
| you determine the correct blend. | | | | that they are using a secure website encryption |
| So how does the insurance process vary online? The | | | | verification service like VeriSign. |
| first thing to be aware of is that many online sites | | | | 3) Make sure that they are authorized or licensed to |
| actually sale their leads (your information) to a local | | | | sale any products or services offered, for insurance |
| insurance agent. While this fact alone isn't particularly | | | | this means checking their state license status. |
| good or bad, it does lead to several questions. | | | | 4) And finally, make sure that they have qualified |
| First and foremost of these is "how was the agent | | | | professionals able to assist you with your planning |
| who purchased my information screened to ensure | | | | and needs assessment - for insurance this is critical. |
| that they are both qualified and reputable?" | | | | For purchases online, it is extremely important that |
| Unfortunately, the answer is normally that no | | | | you take a few minutes to verify the credentials and |
| screening process took place other than the fact | | | | licensing of any "Financial Professional" that you may |
| that the credit card used to make the purchase was | | | | work with. If they don't have this information easily |
| approved. Not a very thorough screening process to | | | | identifiable and available - move on, it isn't worth the |
| say the least. | | | | risk. |
| The second question that you need to ask is how | | | | Finally, you should be evaluating an online "Financial |
| many agents will my information be sold too? Again, | | | | Professional" with the exact same due diligence that |
| the answer here is usually less than desirable. Many | | | | you would apply to a local one. You need to evaluate |
| online sites sell your information to as many six | | | | their offerings, credentials, industry associations, |
| "competing" agents. Normally competition is a good | | | | licensing, and experience. |
| thing, however in this situation the protection of your | | | | Taking a few extra minutes to do the above will |
| personal information, undue irritation from multiple | | | | save you stress, time, energy, and money in the |
| phone calls, and verbal abuse by "pushy" sales people | | | | long-run. It will also make sure that you are working |
| is exactly what you don't want or need. | | | | with a true "Financial Professional" and that you and |
| What you do need is a qualified, experienced, and | | | | your loved ones are properly protected. |
| knowledgeable "Financial Professional" to assist you | | | | |