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Life Insurance Tips, Part 2: Comparison Shop to Win

When you let SelectQuote shop for your life insurance, the highly-rated companies we represent compete for your business – just like the leading college basketball teams contend for the championship during March Madness. With the first game of the 2016 NCAA men’s basketball tournament coming up fast on March 15, March Madness is in full swish. In the spirit of the tournament (and because we love sports analogies), this four-part blog series will provide a play-by-play account of what it’s like to get life insurance through SelectQuote – from securing a quote to activating your policy.

Comparison Shop to Win

The teams that make it to March Madness earn their place through months of preparation and a string of big wins. That’s what makes the tournament so exciting – it’s a real head-to-head competition for the 68 teams that make the cut. The same principle applies to the life insurance companies represented by SelectQuote. We only work with carriers that have earned A- to A+ ratings from A.M. Best, an independent organization that assesses life insurance companies for their financial strength and ability to pay claims. To learn more about how life insurance companies are rated, check out Four Things to Know About Life Insurance Company Ratings.
While working with highly-rated companies is great, it isn’t enough to match you with the ideal coverage for you and your family. By taking it a step further and comparison shopping these leading companies for your lowest quote, we allow the carriers we represent to compete for your business. Here are three reasons why comparison shopping means winning when it comes to term life insurance.

Coverage Prices Vary

Your premium for the same amount of term life insurance coverage can vary significantly depending on the life insurance company you choose. So the more companies you receive quotes from, the better your chances of finding the right policy and best price for you.

Different Companies Specialize in Different Risks

Depending on your health and lifestyle, certain companies may offer better prices than others. That’s because different companies specialize in different “risks.” Some companies offer more reasonable rates for smokers, or for people who take medication to control their cholesterol or blood pressure levels. And while one company may deny life insurance coverage to diabetics or prostate cancer survivors, another may be perfectly willing to issue them a policy.
This is why your SelectQuote agent will take the time to get as much information as possible about your health and lifestyle at the outset of the quoting process. By gaining a clear understanding of your medical condition and habits, your agent can then shop the companies we represent that are most likely to provide you with the coverage you need at the lowest price.

You Want to Comparison Shop Life Insurance Companies, Not Agents

While comparing quotes from multiple life insurance companies is your best bet for saving money on your term life policy, using multiple agents to do so won’t make your life any easier. In order to comparison shop effectively, every agent you talk to will need to have a comprehensive understanding of your family health history and lifestyle – not to mention solid relationships with the underwriters at several leading life insurance companies. Your dedicated SelectQuote agent will have both and can make your life much easier in the process. After all, do you really have the time to contact 10 different life insurance companies to find your best price?
Ready to get in the game? Click here to start your free term life insurance quote, or call 1-800-670-3213 to speak with a SelectQuote agent. Next week, we’ll help you declare a winner by showing you how to decide on the right carrier and policy for you.

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