Can I find an instant whole life insurance quote online?
Due to the complexity and variability of whole life insurance products, instant whole life insurance quotes are hard to come by on the Internet. Most life insurance websites provide basic information about the characteristics of whole life insurance and a toll-free number for you to contact their life insurance agents.
Whereas universal and term life insurance quotes are easy to find online, whole life insurance policies are complex and thus difficult to manage using the instant quote tools.
Therefore, it is advisable that you look for a life insurance agent if you intend to purchase a whole life insurance policy. However, before you do, think twice and shop around on the Internet. Is a whole life policy the right life insurance product for you, indeed? Making yourself familiar with the life insurance products that are on offer, will certainly make a difference and can save you a lot of money.
Finding a Life Insurance Agent
Once you have made up your mind that whole life insurance is the right life insurance product for you, you should then go about finding the right life insurance agent. Be sure to look for a well-qualified and competent practitioner with a considerable level of expertise. There are plenty of crooks out there who might try and sell you the wrong policy without considering your real needs.
Selecting a top agent will not cost you more than, say, going for an agent with questionable reputation, competence and experience. Agents' commissions are standardized and are calculated as a share of the premiums policyholders pay.
Do's and Don'ts When Dealing With an Agent
Usually, qualified Chartered Life Underwriters (CLU), Chartered Financial Consultants (ChFC) and Certified Financial Planners (CFP) are really good bets. They also have to observe a Code of Ethics which has been introduced in order to counter deceptive practices among life insurance agents.
However, you shouldn't rely on your insurance agent to select the right type of policy for you: agents are usually more inclined to sell cash-value policies because the commission they earn on those is up to ten times higher than when selling term insurance. Also, if you are to use the services of a financial planner, do not let yourself be cajoled into buying whole life insurance only as investment. Unless, of course, whole life insurance is what best suits your needs, indeed.
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