What will be the right approach of getting online life insurance quote?

Answer 1

Initially, determine whether you are interested in term life insurance or whole (permanent) life insurance. The main difference is that term life is generally less costly but it lasts for a finite time and the premium increases as you get older. Whole life is more costly but the premium remains the same over its life. It also has a "savings" element, otherwise called "cash value".

As to online quotes, most major life insurers have websites through which you can request quotes. There also exist brokers of life insurance that represent many insurers and that profess to submit your application to many of them to get the best premium. Keep in mind that these are very impersonal operations and do not take into account your personal needs for life insurance protection or give any advice-they strictly get you prices and submit applications.

Regardless of whether you use an online quoting service or an individual agent, be certain to answer all application questions honestly. These pertain to, among other things, to age, health history, occupation, and other factors that enter into pricing. If you are buying life insurance for the first time, there is much to be said for getting the advide of a licensed agent, or a financial planner, so that you can work insurance into the entirety of your financial plan.