Whole Life Insurance FAQs: How Do You Buy Whole Life Insurance Online?

By January 25, 2017 March 1st, 2017 Whole Life Insurance

It doesn’t matter how much time you put into choosing the right whole life insurance company, you won’t feel good about the future until you have an active policy in place.

In the past, buying coverage meant one thing: calling an agent or broker on the phone, working with this person one-on-one, and eventually making your way through the process.

In today’s world, this strategy is still available to you. Even so, there’s something else to consider: the power of technology. More specifically, the ability to purchase a policy via the internet.

If you’re intrigued by the idea of buying online – and you should be – there are a few key steps you need to take. Although this is easier than the approach you would have taken many years ago, there are still some things you must do in order to put yourself in position to succeed.

First off, find an online broker that provides access to policies from a variety of companies. The benefit of this approach is simple to understand: you can receive quotes from more than one company, thus giving you the chance to locate the right policy at the right price.

Secondly, make sure you’re ready to provide some basic information. Although you won’t be communicating with anyone on the phone or in person, at least not yet, you still need to provide some details in order to receive quotes. For example:

  • Name and contact information
  • Date of birth
  • Sex
  • Death benefit

Fortunately, you’ll know most of this off the top of your head. However, there is one big question to answer: how much of a death benefit are you interested in?

Not only do you need to supply this information to receive a quote, but it will greatly impact the price of your policy. In short, the more coverage you want the more you’ll pay.

Once you receive and compare multiple quotes, you’re closer than ever to closing down the process.

Next in line is choosing the company and policy that best suits your situation. From there, you can touch base with the provider, ask questions, and get advice on the next steps in the process. As long as you follow the company’s guidance, you can continue to push the process forward with the idea of buying a policy in the near future.

Conclusion

This may be a basic breakdown of how to buy whole life insurance online, but it should give you a clear idea of what to expect from start to finish.

Using the internet has become the top way to find, compare, and purchase coverage. Best yet, this isn’t going to change any time in the near future!

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