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Life Insurance Secret 5 Three Ways to Find Life Insurance

Written by Aaron Pinkston, Fri, Jan 22 2010

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Finding the right life insurance quote for you is still a problem because a lot of information is hidden. There are many companies to choose from, and each life insurance company has many policies that can be structured to suit different needs. Let’s face it – even if you could run your own quotes on all life insurance policies, there is no way to account for different underwriting and there are tips and tricks you might miss.

That’s why we need the expertise of life insurance agents. So why does shopping for life insurance stink?

Recently, I had a guest post over on Free From Broke. In it, I proposed that shopping for life insurance online has not met our expectations so far, but that is changing. It seems from the comments that people disagree, or so it would seem. Many people seem complacent with the way things are right now because of a misconception about what is available.

I’m here to clear the air about what is available and what is not. From now on, when you hear about some way to buy life insurance, it will fall into one of these three categories – two of which aren’t that great.

  1. Insurance Seller –

    2. Regardless of the name they use to describe themselves, their aim is to sell you life insurance. They may represent one company or 50, but they want to sell you a life insurance policy and put it in your hands.

    These are one of the oldest types of life insurance quoting sites online. They usually feature instant quotes from a few life insurance companies. However, instant quotes can often be inaccurate or misleading, they cannot show you all your options, and their advice is often limited to how they make money.

    This is really an extension of how life insurance agents and brokers deal with the clients in person. Imagine you find an agent in the telephone book who gives you a spreadsheet of life insurance quotes based on a five-minute conversation. You may still wonder if the agent considered your total risk profile. You may realize that he or she can sell these companies, but wonder about the ones that aren’t on that sheet.

    Speaking from experience, I know the best company is sometimes the one your agent never thought of or doesn’t represent. That’s one reason you need more than one opinion.

  2. Lead Seller –

    3. You know the type of business where you enter your contact information and get flooded with calls and emails? That’s a lead seller. Whether they sell your contact information to one, four, or more strangers, they do so without knowing if these people can help you.

    Fill out one form and your phone seems to instantly ring off the hook. Or you get emails flooding your box with quotes and follow-ups based on very little information. If the website seems more focused on your contact information than who you are, chances are you are dealing with a lead seller. This is an effective way to get in contact with many agents at once, but dealing with the hassle can be mind-boggling.

  3. Match-maker –

    4. Lets you find the people who can help you the most before deciding whether you would like to proceed. These businesses are not trying to sell you anything, and they let you decide anonymously who you would like to get in contact with, after seeing all the offers.

    Match-makers don’t have the biases and conflicts of interest of insurance sellers. Match-makers don’t broadcast your contact information to strangers to increase noise in your life. A life insurance match-maker wants you to compare and explore options tailored to you and only gets paid if you really like something you see.

While the past offered us two methods, new technology recently allowed a new path to find life insurance quotes. There is nothing new about using new technology to create the same old problems.

Get past the illusion of how you find life insurance quotes. Once you understand which of the three types of businesses you are dealing with, you can understand their biases. Arming yourself with the truth, makes a wiser decision easier.


In Life Insurance Secret 1, I uncovered the myth that all agents have the same life insurance policies to sell.

In Life Insurance Secret 2, I unveil that insurance agents do not sell insurance for the same price.

In Life Insurance Secret 3, I dissolve the illusion that any single agent knows what is best for you.

In Life Insurance Secret 4, I break the fallacy that term insurance is pure insurance.


Questions or comments? If you mention “Clarifinancial” in your favorite social bookmarking site, I will see it. You can also find me on Twitter or email me.