On the Internet, you can find the best deals on life insurance. But are there hidden problems, and does a low price mean that quality is sacrificed? The author explains how it's done and comes to the conclusion that it's a good idea to buy things online.
The Internet has made it possible for everyone to get life insurance for less money.
In the past, if you were thinking about getting life insurance, you probably met with a salesperson from your favourite insurance company or went to a local insurance broker. But you probably wouldn't have been brave enough to get several quotes. Just didn't happen. You trusted the salesman to do what was best for you, and you probably thought that life insurance is complicated and needs specialised knowledge. Everything is very cosy. All are very pricey. What a difference!
People now know that life insurance doesn't have to be that hard. If online car insurance is a 9 on a scale from 1 to 10, life insurance must be a 7 or 8. This has made the Internet a great place to find low-cost life insurance. That doesn't mean that life insurance policies bought online aren't as good as those bought in person. No, you're more likely to get a policy from one of the big insurance companies in the UK, like Norwich Union or Legal & General. These policies are the same as any others you could buy elsewhere. Just that there is a lot of competition on the internet, and the system is efficient and easy to use, so most online brokers decide to cut the commission and put the money they save into lower prices.
Ah, yes, I hear you saying that 7 or 8 means that life insurance is more complicated than car insurance. Is it true? Yes, but that doesn't mean it's a problem. The companies that sell life insurance online know that many customers feel they need and want some kind of personal advice. They do this by putting helpful information on their website and, more often than not, by having a short conversation with you over the phone before you buy. This gives you peace of mind and helps make sure you get the policy options you need at prices that can't be beat.
It is a good idea to buy things online.
