Obtaining term life insurance quotes is the first step in any life insurance shopping process. Getting estimates will typically give you a decent sense of how much life insurance from a certain company will cost you. Are you committed to purchase life insurance from that business once you have those quotes? The short answer is no. You can acquire as many free quotes from as many different life insurance providers as you wish. If you don’t want to, you don’t have to buy from any of those companies.
In fact, you can suspend the life insurance purchasing process at any time up until the time you sign your policy. Here’s what you can do without incurring any financial obligations:
- Obtain quotations for life insurance
- Submit an application for life insurance.
- Complete the underwriting process, which includes your free medical exam.
- Ask any questions you may have with our licensed agents
You can go through the entire process, receive a life insurance policy, and then have cold feet at the last minute and decline to sign the document – all without incurring any financial implications.
Because life insurance firms pay agents directly, shoppers can work with them for free. You may believe that this is worse than paying an agent directly, yet it actually benefits you. States control life insurance premiums, and insurers include in expenditures such as marketing and fees into the price of every policy they sell. If you pay an agent for “unbiased” advice, the life insurance company will still pay them a commission, thus you will be paying twice for their advise. By the way, no agent or broker can guarantee you lower rates because life insurance pricing are governed by states. Your life insurance coverage will cost the same regardless of where you get it. You may acquire estimates from a variety of providers, shop about for the best prices, and, if you need to, stop or put the process on pause without spending a dollar because you’re not paying anything to the agent or insurer throughout the shopping or application process.
