I don’t know a great deal about life insurance. So when people ask me questions, I generally just try to direct them to other, more helpful resources.
I recently came across one such resource for anyone shopping for life insurance. It’s a website called Clarifinancial that allows you to get free life insurance quotes by creating a reverse auction. You enter your relevant information, insurance companies send in bids, and you get to choose between them.
The cool part though is that you don’t have to provide each of those companies with your contact info, so you won’t have insurance agents calling/emailing you for the next three months.
(For anyone wondering: No, I’m not being compensated for this post. It just looks like a handy tool, so I thought I’d share it.)
And now some of my favorites and one guest post from this week:
Investing Articles
- The Risks of High-Yield Municipal Bonds from Amateur Asset Allocator
- Lending Club–10 Months After with 5 Figures Invested from MoneyNing
- 401(k) Fees: See What You’re Really Paying from ChristianPF
- Fidelity Reduces Trading Commission and Offers Commission-Free ETFs from The Sun’s Financial Diary
Other Money-Related Articles
- Will Moving to a Higher Tax Bracket Cost You Money? from Five Cent Nickel
- Review of David Bach’s Start Over, Finish Rich (Part 2 here) from Bad Money Advice
Oblivious Investor on Tour
- Smarter than We Look hosted by Morningstar Advisor
Blog Carnivals
- Festival of Stocks hosted by Compounding Life
- Tax Carnival hosted by Don’t Mess with Taxes
- Carnival of Personal Finance hosted by Cash Money Life
- Carnival of Mutual Funds hosted by Beat Mutual Funds
- Carnival of Financial Planning hosted by The Skilled Investor
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{ 3 comments… read them below or add one }
http://www.term4sale.com/
this is the best place I’ve found (and it’s been recommended a lot in other blogs/forums) for shopping for the best rates on term life insurance. the site doesn’t sell any insurance – just provides rates. I am not in any way affiliated with them. just found it helpful when I was shopping for my life insurance.
cheers, my2fish
Wow Mike. I really appreciate you mentioning our unique service.
@my2fish Thanks for the comment. The site you mentioned is pretty good for getting a rough and tumble idea of what might be out there, but it really has some limitations. It requires you to access your own risk without mentioning that each company has different underwriting requirements that change. It spreadsheets many top companies but misses some others that might be important. It doesn’t allow flexibility to allow the input from an experienced expert.
Honestly, many of the agents who work through our service start with a quote system similar to (if not the exact same) as what you pointed out. Then they look at the companies that aren’t included, underwriting, and other methods to help you meet your goals that a spreadsheet just can’t do. Of course, all this happens anonymously and without hassle too. It’s about providing accuracy and customization in a competitive environment without any sales pressure. No single agent or spreadsheet can do that.
Thanks for the information. I have been trying to find a place to purchase life insurance from, but didn’t really even know where to start. I love the idea of businesses competing for my business. This guarantees the best price for me.