Like any product, life insurance can be risky to purchase online if you purchase it from the wrong people. While it is impossible for you to purchase any state regulated plan from a non-licensed agent, that license alone does not mean your well being will come first to them. In this article, we will expose 3 Life Insurance scams you easily find online.
Many Just Want Your $$$$$$
Fortunately, there are some (like Insurance for Final Expense) in this industry who really don’t care about making any money at all from you or others, until your needs are totally met.
We believe it is better to make less and have your happiness index higher.
Why? We want repeat business and just to do what is right. Most Americans have multiple insurance policies and have even more friends with insurance needs. Rather than just try and capture one large account, it makes far more sense to take care of all of your needs.
Below are the 3 Life Insurance Scams You Easily Find Online:
Life Insurance Scam #1: Lead companies that try and make you think they are actually insurance companies.
There is a big difference between someone who wants to sell your information to a struggling agent and an insurance company that actually wants to serve your needs.
The problem is the line gets blurred. Your receive a piece in the mail pitching the idea of you getting more coverage, but you are really not sure who it is from. Are they reputable.
Confused, maybe you toss the piece, or just maybe, you fill out the form for more information.
Thinking you are dealing directly with an insurance carrier, you are soon inundated with phone calls, texts and emails from many agents.
You wish you never filled out that form. You sour on the idea of insurance coverage at all.
That is so wrong … on their part and in a gentler way, on you as well as that insurance coverage could make your loved ones lives so much easier once you pass.
At insuranceforfinalexpense.com, we will never sell or transfer your personal information if you request a quote. We work directly with the largest insurance carriers in the country like Mutual of Omaha. If we can’t help you (a rarity), then your information will be shredded both in paper form and digitally.
We are not believers in holding prospect’s information over their heads. We try and help and usually do, but if that fails, it is as if you never inquired at all. The way things should be, but aren’t in most of America.
Life Insurance Scam #2: Most Agents are Captive
You might not realize this, but there are two types of agents. Independent and Captive. A captive agent only works with one carrier, for example State Farms.
In the “olden days” almost all agents were captive as it was difficult to work with multiple carriers and keep things straight.
You might have a family friend who had covered you your entire life come to your home and lay out all the packages on the kitchen table.
This was very personalized service, but it was also a day and age when a lot less folks had coverage in general. You could read about it online, or study it or anything else without actually getting someone in your home.
Today there are still captive agents, mostly because they struggled trying to be independent so they retreat to the safety of a salaried job. There is nothing wrong with that, but when they come to your home, understand you are going to be offered ONE single option.
Plus the price differences can be huge. You could end up paying 75% more for the exact same coverage just because you picked an agent who only offered you a singular option.
In order to get the best rates, you really do need work with an agent that has the flexibility to compare all of the options available in modern America.
It’s not 1961 anymore. It’s a competitive world. In some ways that’s bad, but in many ways like getting more insurance for you money, the new way is better.
Life Insurance Scam #3: The TV Ad Bait and Switch
Insurance is very popular these days. You can tell that by the amount of TV ads for all types of different policies. Some of the rates are incredibly low.
The problem? The rates advertised on TV are ONLY for the most healthy of people. Only 10% or less of Americans are really in that good of shape where they could even qualify.
What more … the rates quoted are for policies that will RARELY pay out.
For example: I recently saw an add on CNN that boasted of 10 year term plans for folks in the age range of 42 years old. The pricing was “incredibly low”.
The problem is that while some folks do die in that age range, the vast majority don’t. Especially if you are super healthy at age 42 to qualify for that package in the first place.
So just to use rough numbers, out of 500 people who qualify and can afford payments, maybe only 1 or 2 will actually pass away during that 10 year span.
It’s almost like free money for the insurance carriers. Not that there is anything wrong with selling these policies, but the reason they are advertised so heavily on TV is to suck you in to making that phone call.
The Lesson Is:
Be realistic about what coverage should cost, but shop around with an insurance quoter (right hand of this page) to find the lowest rate for the most coverage.
And also understand this. There are many reputable companies online like Colonial Penn, AARP and John Hancock Life Insurance. The simple problem is, their rates are too high and policy benefits too low.
This is very bad.
When you deal directly with insuranceforfinalexpense.com, we shop around for many different carriers and bring you the absolute finest offers in the world of Final Expense Burial Insurance.
Fill out the form to your right on this page and see exactly what we mean.
Gary P. Cubeta
(Serving Americans In All 50 States)