Are Instant Life Insurance Quotes Worth Their Salt? The Simple Truth

Are the Online Instant Life Quotes what you will really pay for your life insurance or just pie in the sky?

In answer to that question…well…

It really depends on who you talk to.

Some would say yes, I selected myself as “Preferred” then inserted the required information and got my quote.  I then applied and got approved for what I was expecting.  The next person says… I used their Instant Life Quotes system and they pulled the old “bait and switch” on me!!”

So was the life insurance company, the agent or the broker pulling a “bait and switch” or not?


 So What Really Happened Then?

Well, the insurance company nor agent was not trying to rip anyone off.  Application information regarding the applicant as an overall risk has to be gathered to see if the insured individual meets the criteria for that price.  Most people do not qualify for “super preferred rates.”

Both fictious applicants selected the company with the lowest cost for coverage based on the quick quote they received online.  Now, the first case applicant was favorable/ideal to ABC Insurance Company while the other individual applicant was not an ideal risk for the other insurer (XYZ Insurance Co).  This resulted in a higher cost than expected.

As consumers, we must satisfy these specific criteria to receive the “health class or rate class” selected in the “quick quote.”

This is where your seasoned, independent agent comes in as your intermediary expert and why it is best to talk with him or her prior to making an application for life insurance.  The cheapest company may be far from the best option for you.  A life insurance expert can sort this out.  All life insurance companies evaluate risk differently.

There is no financial advantage to not speak with a licensed professional. 

In fact, you may end up overpaying.  You see, the quick quoting tools do not have enough information to classify all the details an insurer will gather before an offer of life insurance coverage is extended.  Most people are considered “standard” in our term life insurance quoter.  This would be my recommendation if you would like to start pricing out coverage.  Experiment with the different rate classes if you would like.  Compare yourself to your peers, overall.

To learn more about independent agents/brokers and how they are compensated, click here.

An important lesson from the above… and you should really consider this carefully…

Online, “Instant Life Insurance Quotes” like we at Special Risk Life and most other reputable online life insurance agent/brokers provide, are meant for comparison only.  Yes, they are absolutely legit as long as you meet all underwriting ideals for the age, gender and health classification for it.

Sure, you can apply here online to get it done and sometimes it will hit the nail right on the head.

Many cases go thru exactly as an applicant might expect particularly with whole life insurance.  In the end though, your actual premium will be determined by the underwriter of the insurance company regardless of what the “Instant Life Insurance Quote” was.  If you are rated up by the insurance company, you have the choice not to accept the offer.  Sometimes a “standard” health class will be improved to a “preferred” class in which case your rates will be better than quoted.

So why can’t they just stick with their “comparison rates” they provide us?

You may consider yourself a safer risk than the insurance company does unfortunately.  Their are literally hundreds of life insurance companies out their each with different criteria that determine how they will classify your situation.  In the end, it is how the insurance company perceives any of us as “insurable risks” that will determine what the insured will be charged.

My advice, let your seasoned, independent agent/broker sort this out for you and with you, to avoid a potential surprise.  Talk with them before applying.

So what are the “certain criteria” a life insurer will look at.

First order of business is your age and overall health condition.

As part of your application, your birth date and health history will be gathered. If there is a required medical exam this is frequently conducted in your home and is paid for by the insurance carrier.  It also will involve your prior medical records.  These type of policies tend to have the lowest cost but longer waiting times for approval.

When you apply for coverage, an order for an Attending Physician Statement (APS) may be also done.

A no exam life insurance policy will remove the medical exam and APS (doctor’s records) in most cases.  Talk to your independent life insurance agent about this.


maybe you believe you are in excellent health, but after review by an life insurance underwriter, they might determine that you have certain degree of additional risk.  Example: Do you have a family history of cancer?  To offset any additional risk, the insurer will increase the cost of insurance to cover this.

Your height versus weight.

This is always part of the puzzle to obtain the rate quoted in a online Quick Quote.  You may have a good medical report, but if your height and weight ratio is skewed, you will be rated up.  Overweight for your height will impact you, always.

Your driving record does impact your rates.

What does your driving record have to do with life insurance you ask?  Your alive and kicking and even your health my be pretty darn good, right? Unfortunately, no matter how well you believe you can handle a car/truck… it is time proven that people with a large number of moving violations are at a greater risk of death than those with little to no history.  To offset this additional risk, the insurer has to increase your premium.  Now 1 speeding ticket does not usually pose a problem to your rate, but if you have a few moving violations to your record, you will be rated up.

Another common factor is evaluating you as a consumer is your occupation or hobbies.  Let’s say you work for a utility company on power lines for a living.  A lot more risk there than someone that works behind a computer everyday.  Maybe you like scuba diving, rock climbing or sky diving?  Dangers inevitably surround these hobbies.  You can bet that the insurer will build in the increased risks of the utility company employee working on power lines or scuba diver into their decision unless we make a request to have coverage excluded for those specific risks.

Remember, the insurance company cannot see you.

Agents and the life insurance companies need the specifics provided by you to zero in on the best outcome.

Whether you are the ideal risk the life insurance company wants or not, make sure you have a specialist like Special Risk Life to help you sort it out.  They will help filter out a lot of frustration, a poor offer or the dreaded decline.  The messier it gets, the more the seasoned expert is going to save you.

In Conclusion:

Do you have enough education at this point to move forward on your own?  This is something you must determine.  There are also many more resources here on this website.  I personally recommend that you consider speaking directly to a specialized, independent agent especially if you not in A1 health. These cases can be very difficult to place without the right advocate.

The Simple Truth is, instant life insurance quoting is just a good starting comparison for a lot of people.  From there, you need someone who can dial things in for you and put things in better perspective before applying.

Life insurance is very affordable if you have the right resource working for you.  Special Risk Life Insurance has the experience, knowledge and the access to all the top insurers in the industry.  We are painless to work with and will get the job done the right way.

If we can be of assistance, we would certainly be glad to help you sort it all out. 269-230-3464