At United Life Group, our goal is to put the client first and provide a unique buying experience. We maintain a no pressure attitude and focus our conversations on educating the client.
With the growth of the Internet, the demand for immediate access to information has grown as well. Prospective clients often ask if they can get quotes online without speaking to an agent. Consumers have learned that online quotes are offered for other types of insurance and wonder why they are not available for life insurance policies.
In order to meet consumer demand, we invested quite a bit of time and money in developing an online quoting tool that would be user friendly and easy to understand. The finished product allowed a user to request an online quote by entering age, location, tobacco usage, and gender. Within a few seconds, the user would receive quotes from various burial companies for the requested face amount.
We received a lot of positive feedback and continued to use this quoting software for the next year or so. As time went on, we began to see some trends develop with our client interaction. Clients were purchasing products based on price rather than features that fit their specific needs. It was common for clients to be dissatisfied because they felt the purchased products did not meet their needs.
We suspended use of the quoting tool to allow time for us to dig deeper and refocus our approach. We discovered three main deficiencies with providing online quotes.
The first thing we learned is that the quoting tool was not able to properly understand an individual’s situation. A senior life insurance specialist is able to gather information that a quoting tool cannot. An agent can understand your individual health situation, your financial position, as well as the specific goal of the plan you wish to purchase. With this understanding, an agent can provide quotes tailored to your specific situation, rather than quotes using basic parameters.
The second deficiency with an online quoting tool is the lack of sufficient education. At United Life Group, we firmly believe in educating clients properly on the various options available for their situations. Our goal is to eliminate the sales pitch and provide valuable information that will assist the client in making the best decision. We feel that if clients understand the available products for their individual needs, they will be more confident in their final decisions, thus producing happy clients.
The third area of deficiency with an online quoting tool is the inability to compare plans apples to apples. When using a quoting tool, you see quotes for all of the companies offering plans meeting the criteria you entered. The problem is the terms and conditions of the plans can vary from company to company.
For instance, some senior life insurance policies do not have a fixed premium, meaning the monthly payment can go up from year to year. Some policies have a waiting period of two to three years before the policy goes into full effect. Other policies may terminate at a certain age, making the policy useless if the insured lives beyond the policy’s cutoff age.
Consumers may miss these details when comparing policies because they may not know to look for the differences. They simply assume that all companies are the same and the cheapest company is the best company. If consumers consult with a senior life insurance specialist prior to viewing quotes, they can be properly educated to decipher the differences in the policies.
Though many people desire online quotes for life insurance, there are several deficiencies with quoting tools. We have learned that client interaction is key in developing and retaining long-lasting relationships. If we as agents do our job understanding your specific information, educating you on the available options, and assisting you in comparing policies apples to apples, then you will have the best opportunity for finding the right policy to meet your needs.
If you have questions about burial insurance policies or would like to get whole life insurance quotes, feel free to call our agents directly at 866-699-1884. We are licensed in most states and would be glad to help.