Getting a life insurance quote through Esurance is simple, but you still might have some questions about the process. Find out what you need to know here.
Getting the most out of your quote
What should I know before getting a quote?
Before you get a quote, make sure you've fully educated yourself on the process. Most life insurance websites will have tons of info at your disposal, and once you choose to take the first step, your agent will be a great resource as well. In general, give yourself ample time to do research and complete the application process. Experts recommend applying for life insurance at least 4 months in advance as the process can sometimes be lengthy.
Here are a few basic tips:
- Decide which type of coverage you need (term life, whole, or universal). The rates, coverage term, and potential benefits will vary depending on the type of coverage you choose.
- Calculate how much insurance you really need. Do you need a large plan to cover the mortgage, living expenses, and your children's education, or do you just want to make sure that your funeral costs will be covered? Don't get more (or less) coverage than you really need.
- Get multiple life insurance quotes or find an agent who works with multiple companies. Your agent will help you find competitive rates and good coverage options.
What information do I need when getting a life insurance quote?
Different companies will require varying degrees of informational depth, but the quoting process is usually very easy, quick, and simple. Generally, you only need to provide basic info about yourself that you already know, such as your height, weight, date of birth, gender, etc.
Can I get life insurance quotes online?
Yes, you can obtain multiple life insurance quotes online. However, due to the individual nature of life insurance policies, the quote you receive will only be a rough estimate based on the information you provide. The insurance company you choose will ultimately verify your info through the application process to determine your rate.
This is the same for all sites. When you compare quotes, keep in mind that the final rate will always be determined by the insurance company. Even if you find a site that looks like it has better quotes, the final rate will most likely differ from the quote provided.
In general, steer clear of any website that won't provide an up-front quote but will instead sell your information to multiple independent agents who will then aggressively compete for your business.
Keep the process simple and streamlined by getting a life insurance quote through Esurance and choose the insurance company that suits your needs best.
How can I get the best life insurance quotes?
Compare policies side by side. Since rates vary from company to company, make sure you get quotes from multiple life insurance providers and then compare the policies. If you're getting term life insurance, compare the coverage amount, the coverage term, and the quoted rate to see which offers the best value for your money. We also suggest checking the companies' ratings on A.M. Best to determine financial reliability.
In general, go with the companies with low prices, the right policy term, and the best financial ratings. If the prices quoted are pretty close, go with the company you recognize that has the best financial strength.
What happens after I get a life insurance quote?
If the insurance company you go with follows an all-online process, then you'll be asked a set of additional questions. Once these questions have been reviewed and approved, your policy can become effective within 24 hours. Usually, there's no need to speak to an agent.
If the insurance company follows a fully underwritten process, then an agent will call you to ask additional questions to make sure that the policy you selected online is the best for you. Your agent will also verify the information you provided in your quote, help you with the application, answer any questions you may have, and keep you informed throughout.
How long does it take to get life insurance?
It can take a few weeks to go from the quoting stage to the moment when you have your policy in hand. After you've completed a quote and spoken with an agent, the insurance company will review your medical and family health history and your driving and criminal records, among other factors. The insurance company may also conduct a personal history interview, often known as a PHI, and may require a medical examination.
The biggest time drains are usually in your control. The quicker you schedule an exam and provide any necessary additional documentation, like an attending physician's statement (ASP), the sooner the insurance company can move forward with your application.
Can life insurance be canceled without penalty?
This will depend on your insurer and your policy. Generally, term life policies don't charge early cancellation penalties. With whole or universal life policies, you'll usually have to pay a fee for early termination. Fees will vary depending on the insurance company. Check the specifics of your policy for more detailed information or contact your insurance provider.