According to a recent study by LIMRA International, a life insurance industry organization, about one in five consumers prefer to purchase life insurance online.* Twenty percent may sound like a large number, but a whopping 80 percent of consumers still prefer to purchase life insurance with the aid of a qualified financial professional.
Why, you might ask? While purchasing insurance online may be a great approach in some cases, there are many reasons to consider working with a financial professional for your life insurance needs.
Most online resources for life insurance offer a basic needs calculator. The calculators typically only capture a small part of your financial story. A skilled financial professional will ask the right questions to get a more complete view of your situation. Perhaps life insurance only satisfies part of your overall financial needs. Your financial professional can help you see the entire picture and make recommendations that fit your needs.
Recommending the Right Product
It’s common that an online life insurance resource will be dedicated to a specific insurer’s products, or the products of only a few insurers. Many financial professionals have access to numerous insurance carriers and can recommend a product that best meets your needs.
Explaining Your Options
While an online resource may have a question-and-answer section, it may not provide adequate explanations of the features and benefits of life insurance and how it might fit your needs. Your financial professional can explain each product in easy-to-understand language and ensure you have a full grasp of your options.
Cosmo Insurance Agency is knowledgeable in various options including but not limited to – term, ROP, permanent and whole - from over two dozen A rated carriers. We are familiar with the rate classifications that particular carriers use to determine the health class of enrollees – and there are significant differences between them. No matter what the results of your medical examination are, we will find the insurer that will provide you will the best rating class and thus the lowest premiums.
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*2015 Insurance Barometer Study, LIMRA International