Study Shows Life Insurance Consumers Unaware of Online Comparison Shopping

Posted in Life Insurance

September 17th, 2009

A recent survey shows that a large percentage of life insurance consumers are unaware of the option for online comparison shopping. The survey, which was released by Grey Hawk Research company, noted that 64% of consumers turned to the telephone when search for any type of insurance. Out of that 64%, 82% were unaware that life insurance quotes were available online.

While these numbers may seem shocking to the avid online junkie, there are still a high number of individuals who thumb through the telephone book and call various insurance companies for life insurance quotes. While this is not a bad route to take to learn about what’s available in life insurance, comparison shopping online is undoubtedly a simpler and more convenient way to go about searching for quotes.

Here are just a few of the benefits of comparison shopping for life insurance online:

• Side-by-side comparisons – Very often, you can obtain general life insurance quotes in side-by-side comparisons by simply entering a few personal details.
• Instant results – When you search for policy quotes online, you very often will receive a quote within minutes. While this may also occur by making calls, the internet does not require that you hang up, dial a new number, hold while someone enters your data, etc. The process flows much smoother.
• Educate yourself – Another perk to shopping online is that many sites offer FAQs about life insurance that you may not acquire by calling on the phone. Definitions for terms are very often provided, giving you the opportunity to learn about what you’re purchasing.

Since there are so many perks to shopping for life insurance online, it’s a wonder that more people don’t know how to do it. Don’t be left out – try your hand at comparison shopping now if you haven’t done so.