Yes, you can buy life insurance online.  Buying life insurance online can be more convenient than purchasing a policy through a life insurance agent, and   There are two options when you purchase life insurance online.  You can buy life insurance without a medical exam, and the entire purchase can transact online.  You may need to speak with the insurer over the phone as well, depending upon the provider that you work with.

The downside to performing the purchase in this way is that the life insurance premiums will usually be for more money, and there is a cap to the amount of coverage that you can obtain.  Some providers may limit the coverage or face amount for no medical exam policies to $100,000, and other may accept up to $250,000 of coverage without an exam.

Life Ant specializes in comparing quotes across providers online.  We then allow clients to choose the lowest priced, or most desirable policy for their needs.

Starting the Transaction Online

Your other option for buying online entails starting the transaction online, and completing some steps offline such as the application (which can be mailed to you).  You will also still need to undergo a full life insurance medical exam (also called a paramedical exam) and sign documents such as the life insurance application after you choose a provider.

The steps to do this are fairly simple, and the savings are potentially extremely large over no medical exam coverage.  These are the steps that it generally takes to get a quote online for a regular medical exam policy, and purchase the insurance.

  1. Enter your zip code in our quote comparison tool.
  2. Enter some basic personal information and the amount of insurance that you need.
  3. Review quotes from several insurance companies and choose your ideal insurance provider.
  4. They will contact you shortly.  You will need to complete an application, and schedule a medical exam.
  5. Take the medical exam, submit the application, and get an offer for a policy.  Choose to accept your new policy!  Keep in mind that you have the right by law to free look a policy even if you have already submitted money with the application, for a full refund.

The advantage to purchasing insurance this way is that you can get all the coverage that you require, but you don’t need to interact with an agent or salesman trying to sell you coverage that you don’t need.  You also get to compare quotes from lots of different providers.  When you speak with an agent, they will try to sell you life insurance from their own company because they get higher commission payouts.  Many are not even authorized to sell policies from other companies.

A life insurance agent gets paid a higher commission if the cost of the life insurance policy is higher.  Their incentive lies in selling the policy with the highest premium fees, not in finding the best deal for the client.

This is why at Life Ant, we recommend that our clients always try to get a policy with a medical exam.  It is much less expensive, and there is nothing to lose by taking the exam.  The exams are not shared among insurers unless you request that it be.  You can always take a new exam whenever you want as well. If you are denied traditional coverage, it may be wise to look for a no medical exam policy at this point.  Most people will not be denied traditional coverage without significant health problems anyway.

No matter if you choose to purchase the policy online or not, you can only save money by comparing quotes before you speak with an advisor, or a life insurance agent.  This will allow you to buy from the least expensive company, and you will know what the fair market rates are for the coverage you desire, so that you know you are not being taken advantage of.

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