The agent has long been the individual one relied on when seeking life insurance coverage.
The agent has always been the expert who established the relationship with the client and work on the client's behalf for the right product at the best rate.
But wait a minute! By definition the agent is "an authorized representative of an insurance company who sells and services insurance contracts.
" So to a greater or lesser degree the agent is also representing the interests of the insurance company, which can open the door to conflict.
Perhaps that is part of the reason more and more life insurance is being sold over the internet at web sites that employ sophisticated quoting software to automatically compare rates between insurance providers and provide the comparison data to the client, regardless of which company has the lowest rate.
This is how the online process works.
The person searches for term life insurance quote.
He is presented with a choice of numerous web sites matching the search.
On selecting the site, the opening page presents a quote form.
Several simple questions are answered about date of birth, gender, whether a smoker or not, the amount of coverage required, the desired term of the insurance policy, the state of residence, and whether premiums will be paid monthly or yearly.
That's it! The form is submitted and within a few seconds the software gathers rate information from dozens of competing insurance providers for the location, amounts, etc, requested on the application form.
The comparison information is provided to the requester and he can select the best rate.
So while there are still insurance agents in the business of selling insurance contracts for select insurance companies, the trend today is for the individual to go online and make use of a quoting site that makes available the rates of all providers with no obligation to any one company.
In the online process the agent plays no role in getting a term life insurance quote.