The Ease of Online Life Insurance Quotes

When planning to buy life insurance, one important option you’ll be faced with is where and how to buy. See how online life insurance has taken buying life insurance to a new level.
Author: Brian Greenberg CEO of True Blue Life Insurance
Last updated February 19, 2021

In-Person Versus Online Life Insurance

Before Online Life Insurance

Believe it or not less than ten years ago it was commonplace to purchase life insurance like this:

  • Ask friends or family who they use for life insurance
  • Lookup phone numbers for life insurance companies
  • Call up and make a meeting with a life insurance agent
  • Go to meeting with an agent
  • Physically research and go through all of your options
  • Sign all the paperwork
  • Wait for your answer

Now Getting Online Life Insurance

Online life insurance companies have streamlined this process into three easy fundamental steps.

  1. Get a quote
  2. Compare companies
  3. Fill out application

It doesn’t get much simpler than that!

Why Life Insurance?

Over 40% of Americans will most likely leave their loved ones in financial distress when they die. Only a staggering 57% had any type of life insurance by 2020.
Death, like taxes, is inevitable. Nonetheless, only 4 out of 10 Americans have prepared for this outcome. The most common reasons Americans take out a policy is to repay debt and cover funeral expenses. After those two, what comes to the forefront is replacing income and securing their family’s future.

Life insurance of any type, term or whole, is a financial plan that makes provisions for the unfortunate moment when you pass away. It covers not only your expenses and debt, but also your family’s well-being from that tragic moment forward. Some policies also have riders within their contracts that provide for your retirement and financial independence after a certain age.

There are numerous life insurance plans. Each one of them is carefully crafted to your needs, desires, sensibilities, and current financial situation. There are countless factors to think about when acquiring a life insurance policy, and that is why it’s important to reach out to a company that can ease your mind, answer your questions, and help you out by offering a tailor-made policy.

This is also one of the main reasons why more than 71% of Americans would rather discuss their life insurance needs in person. Out of that percentage, as of the beginning of 2020, only 28% were millennials. The rest were baby boomers, the generation most in dire need of life-insurance given their age. This is one of the many causes why online life insurance is such a controversial subject. Most Americans simply want to talk about this personal topic with a person, not a computer screen.

Life insurance is a delicate subject and one that, sooner or later, everyone has to face. Whether they contract a policy or not; they will inescapably reach that crossroad.

The Rise of Online Life Insurance

As of 2018, over 773 companies were selling life insurance in the United States. That might seem like a lot, but compared to the booming ’90s the industry was decreasing at a steady pace. Still, America has the largest life insurance market in the world. The U.S. has a solid industry that is constantly improving and optimizing its services.

When the industry started selling life insurance online, the trend didn’t catch on with the public. Only a third of baby boomers and millennials adapted to this new way of shopping for life insurance. Most consumers commented on how this move made it much easier to get more accurate information, compare policies, and make intelligent decisions based on research.

How Covid-19 shook the life insurance industry

Then, 2020 occurred. A paradigm shift took all industries by storm. COVID-19 made it a necessity to transport consumer interaction, needs, and demands into a full-time digital platform. The industry had no other choice but to fully commit to online life insurance. The public, swept by the uncertainty, life-threatening, and quarantined nature of the Pandemic, finally had to relent and adapt.

In a matter of months, over 80% of customers had made the jump and were now conducting transactions online. Life insurance companies were under pressure to acclimate their platforms to the growing demand for self-serving options. In a matter of months, the industry had devoted more than $571,000,000 in software development and artificial intelligence (AI) technology. Both allowed for a more comprehensive approach to benefit automation, product advice, and security. Online life insurance truly reached optimization during this harrowing period.

The life insurance industry wasn’t the only affected market. Every company had to improve their online accessibility and give their customers and affiliates a truly rounded experience through their computers, tablets, and smartphones. Americans shifted their mindsets and added digital transactions as part of their routines. They became more proactive and efficient in their spending habits. By eliminating the middle-men, Americans understood that they could save time, while also having more control over their life, budget, and needs.

Will this habit persist once the COVID-19 pandemic becomes a distant memory? Will Americans continue to be more inclined to online transactions?

Changing Habits

Statistics show that the move to online shopping has changed indefinitely. The American attitude towards face-to-face encounters for their shopping needs and services has rotated. And, more importantly, due to cost, efficiency, automation, and a myriad of other advances, companies are promoting that revolution. It is no longer cost-efficient for any of the parties involved in a transaction to meet.

Companies, particularly online life insurance companies, are constantly investing to update and better their products and digital marketability which makes it easier for users to gain new benefits and technological control.

Despite all of this, people are still reluctant to get online life insurance or to contract any type of life insurance for that matter.

Life expectancy rates of Americans have almost doubled in the last 160 years. Population ratios have skyrocketed and the insurance industry has had to rethink how their product works under the pressures of the digital revolution and life expectancy.

Americans are now living well beyond the ripe old age of 78. And, due to the strain on pensions and other factors, more than 13% of seniors are earning below the poverty rate. Most millennials bear witness to their struggles and understand the necessity of investing in an online life insurance policy as early as possible.

That is why online life insurance is the way of the future. Most companies took two routes to alleviate the pressure of a growing public demand towards online life insurance. They either scaled and transported their whole operation online, or they grew their operation and partly transported it online. Both were great ways to confront the advance of the digital age and the customer rush.

Completely Online Life Insurance Companies Versus True Blue Life Insurance

Both operations have automation, both operations allow for a more thorough digital interface, and both operations employ the best AI technology in the market. The main difference is that True Blue still offers the human factor.

The following critical components give users a more comprehensive policy:

  • Security, by having fraud preventive measures that are constantly being updated.
  • Research, allowing users and prospective customers to compare quotes and benefits.
  • Automation, allowing customers a more intuitive system that doesn’t need constant maintenance or oversight.
  • Investment, giving consumers key insight into their portfolio and the way their life insurance policy, if it’s a whole life insurance policy, has matured and grown.

Both ways of shopping for life insurance gift clients with these excellent benefits and many more. Consumers now have complete control over their policy right at the end of their fingertip.

Whichever your decision might be, what’s important is the acquisition of a life insurance policy.

Completely Online Life Insurance Companies

100% online life insurance companies are steadfast. As of right now, they are at their most advanced level of efficiency. The industry of online life insurance has had a resurgence in the last year and a half.

True Blue Life Insurance has teamed up with the best 100% online life insurance companies out there and can work with you to place you in one of these companies.

  • Lumico
  • Haven Life
  • Bestow
  • Fabric
  • Ladder

Currently, online life insurance companies are investing in three key sectors to not only fill their customers’ growing needs, but also achieve goals of profitability and growth.
Those three aspects are:

  1. Personalize every aspect of their policyholder’s experience.
  2. Develop flexible product solutions that are unique to each of their clients.
  3. Invest in their teams’ skills and capabilities.

Online life insurance has shifted from mortality protections to targeted health management; a pivot where technology will play a vital role in the transition by allowing customers a more active role in shaping their health.

Both sides are investing heavily in these new trends. Both are extremely easy to acquire and both are the way consumers are getting their premium and policy quotes.

The 100% online life platforms are completely online. There is little to no interaction with an actual flesh and bone individual. The user goes on the web, fills out an application, and waits to see if they will be approved.

Completley online life insurance companies are best for healthy individuals who know exactly what they are looking for and want insurance as fast as possible.

True Blue Life Insurance

True Blue Life Insurance allows users more control over their quotes and their decisions.

True Blue Life Insurance is a life insurance broker. They have contracts with dozens of the top-rated life insurance companies and have streamlined the process for you.

You get an easy online experience with human interaction when you need it.

True Blue allows users to educate themselves on their possibilities by actively comparing among the best of dozens of online companies and choosing which benefits them the best.

They also give users budget-friendly quotes that are unique to their current set of circumstances. It allows them to correlate and scrutinize top-rated companies at once and then apply online.

The key benefit is that True Blue has also managed to keep the human component in its operation. Habits might have changed because of COVID-19, but the reason why we need a personal touch is that 71% of Americans who wanted to discuss their needs in person, remains. Life insurance is not only a financial decision but also an emotional and deeply personal one. More than 56% of Americans are uncomfortable talking about death which is a sensitive subject for them. Studies have determined that as people grow older they develop more anxieties and emotional problems when facing that dire subject. Communication on the topic of death is tough and end-of-life care statistics only further promote why it is necessary to have a competent expert at hand to guide you through some of those hard decisions that make you come face-to- face with your mortality.

True Blue allows potential policy-holders to talk to an agent and discuss their needs. They can find which policy fits their lifestyle, their future goals, and their budget. True Blue has invested heavily in qualified personnel that are trained and have the experience to answer all manner of questions you might have and even give you an insurance plan personally tailored to your needs.

True Blue advances into tomorrow by holding fast to today’s trends while also keeping an eye on the traditions of our forefathers. There is a need to simply pick up the phone and talk to another human being, particularly on something as sensitive as life insurance.

90% of people know that talking to their loved ones about end-of-life care is critical, still, only 45% actually do it. True Blue Life Insurance takes into account this mathematical and psychological fact by offering their users key individuals that are there when they need them. The human element, at its core, can’t be erased, and as numbers prove we still need and crave that connection, particularly during stressful times when we have to face our mortality.

While it seems morbid to think about death, we must accept that it is part of life. Today more than ever it’s critical to protect the future of your loved ones and to an extent, your own. Now is the time to secure the best rates on a policy and online life insurance makes it even easier.

Putting off getting life insurance could be a costly mistake. Life insurance is just a click away and one, that given today’s trend, you can’t afford not to invest in.

That is why we at True Blue offer the best services in the market. We want to help you protect your loved ones while also giving you peace of mind.

True Blue gives you all the digital and technological state-of-the-art benefits available in the market plus a True Blue human connection.

Get the most accurate rates in 2 minutes or less

Making a financial decision doesn’t have to be stressful.
See what you qualify for by answering some health questions.

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