Life Insurance Premium Calculator
Posted by Lenny Robbins on Wed, Jan 19, 2011 @ 04:11 PM
A life insurance premium calculator is just another way to say life insurance quote engine. A quote engine, much like any computer is only as good as what you put into it! That said, there are some differences between quoting engines as I will explain.
The question is what companies will each quote engine show you? Some larger websites limit the number of companies they work with, as less insurance companies means higher volumes of business per insurer. Higher volumes translate into higher commissions for the site. When you go to these websites you may not be seeing all of the options available. Using an independent agent can be a huge benefit here as they are not limited in the companies they can choose.
A quote engine will have a place for you to put in your health information. You need to enter your birthday, height, weight, smoker history, as well as some medical and lifestyle information. The more information the quote engine asks, the more likely you are to get accurate quote. Family history, your medical history and your build all factor into what the program returns as your quotes.
Talking to an independent agent can assist you in getting a more accurate quote as well. The agent has the experience to know what questions to ask you to determine any factors that may influence your rating. You can let the agent “do your shopping” and send you a list of quotes to insure you are getting all of the information you need to choose a life insurance company. You may not want to go with the least expensive company for a number of reasons. These include the company’s stability and financial situation and your medical situation (some companies are better than others with different medical conditions) among others. These are some ways an independent agent can help you through the maze of the life insurance premium calculator.
Photo Credit: Naotake Murayama