Pitfalls of Price Shopping Life Insurance 

As Americans, we like to find a bargain, and the Internet makes it easy to shop around for the best price on everything from electronics to dream vacations.

The Internet even offers free life insurance quotes from numerous companies in a matter of minutes. So why not price shop life insurance on the Internet and get both convenience and the best deal? Because purchasing life insurance is far more complicated than ordering the latest best seller online.

Here are some factors you should consider when shopping for a life insurance policy:

  • Look at the Policy's Value
    Contrary to popular belief, there are no life insurance policy bargains because each policy is priced according to the value, features, and benefits it provides. Policies may appear similar, but each policy has subtle, yet potentially significant differences. Effectively evaluating all of the different features and benefits of each life insurance policy available makes finding the right life insurance complicated and time consuming.
     
  • Consider Your Individual Needs
    Just because a product carries a low price tag doesn’t guarantee that it’s the best product to meet your needs. Since life insurance is a product that people typically own for a long time, you want to make sure it properly fits your own individual needs. Saving money now on a stripped down, online policy that doesn’t fit your own unique needs could actually hurt the long-term financial goals of you and your family.
     
  • Work with a Knowledgeable Professional
    For decisions that are really important, most people prefer to work with an expert. Purchasing a life insurance policy that is best suited for the future financial security of your family is one of those important decisions.
     
  • Purchase from a Reputable Life Insurance Company
    When you buy life insurance, you are purchasing a promise that the company you choose will be around to meet its obligations. For life insurance policies that are designed to last a lifetime, industry experts recommend that consumers use financial strength ratings to evaluate the company selling the policy.

Before you buy a life insurance policy online, consider Northwestern Mutual, which offers a variety of high-quality, competitively priced life insurance products, including permanent life insurance, term insurance, and combination life policies.