Buy Life Insurance Online at Barter
It's easy to buy life insurance online, but there are a few bumps in the road for which you had better be prepared before you even start. Here at Barter, we want to outline those bumps so that you can have the best online life insurance shopping experience possible.
A limited selection
A lot of sites and agencies may boast of how very easy it is to buy life insurance online these days, but the truth is that their claims apply chiefly to term life insurance. Most types of life insurance (the more specialized kinds, like graded premium and participating whole life insurance) cannot even be quoted online. In most cases, the exclusion of these types of life insurance from the online market is of no consequence because most shoppers only want (and only need) ordinary term life insurance. Therefore, in most cases, shoppers really can buy life insurance online.
A limited clientele
When you go to a website to buy life insurance online, the first thing you'll do there is obtain a quote (or a multiplicity of quotes for comparison), but some shoppers will find a stumbling block here: the insurance quotes form prompts the shopper to enter his or her health class, but there are only four options from which to choose. And not one of them is below standard! What's a shopper with sub-standard risk to do?
The fact is that there are ten rate classes below standard, so you may be able to get life insurance, even if you can't buy it online. However, your only recourse is to call up an agent or speak with one over the phone. Financially, it's not a bad thing to consult with or buy through an agent, but a lot of us like to do our shopping at midnight, and all the good agents are in bed by then.
It's not really buying life insurance online Online life insurance agencies and lead aggregators lure shoppers with promises of enabling them to "buy life insurance online," and at Barter, our promises are scarcely different, but unlike the other life insurance websites, we inform you that that promise is grossly misleading.
That's right, no one can actually buy life insurance online. At some sites, you can select your policy and even fill out an application online, but that doesn't mean your application will be accepted. If, for instance, you're applying for life insurance coverage as a "Preferred" risk but your colon is rife with carnivorous canker worms. The insurance company is likely to deny your application or at least issue you an offer under a less favorable rate class. In order to close the deal, you need to send in your first premium payment.
