NEW YORK, Dec. 10, 2019 // --Policygenius, the nation's leading online insurance marketplace, released two state-of-the-art tools to make it easier for consumers to get life insurance right.
The new Coverage Calculator helps people pinpoint how much life insurance they need —and walks users through why it's making that recommendation. The embeddable Pricing Widget generates real-time estimates on the cost of a policy, based on age, gender, zip code and overall health. Users can toggle and compare quotes across varying policy terms and coverage amounts.
"We know life insurance needs aren't going to be the same for everyone, even when individual circumstances appear similar, so we wanted to build tools that help people better understand what the right coverage looks like for their specific situation, " Francois de Lame, co-founder and head of product at Policygenius, said. "The three big things people need to figure out is the amount of coverage they need, for how long, and what that will cost — and our Coverage Calculator and Pricing Widget help answer these questions."
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Four out of five (77%) term life insurance applicants aren't seeking enough coverage, according to new Policygenius research. Of the applicants who are under-shopping, 57% aren't applying for a suitable term (length of policy) while 17% aren't applying for a suitable coverage amount and 26% are under-shopping for both facets of coverage.
"We recommend people buy life insurance in an amount ten to 15 times their individual income with a term long enough to get them to retirement age, which is typically between ages 65 and 67, " Nicholas Mancuso, the senior operations manager of the advanced planning team at Policygenius, said. "Life insurance is primarily designed to replace your income so your loved ones can take care of themselves if you're not there to provide for them."
Policygenius helps you compare quotes and get life insurance right. You can find the Coverage Calculator here and the Pricing Widget here. For additional resources, visit our Life Insurance Learn Center.
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About Policygenius:Policygenius is the nation's leading online insurance marketplace, with headquarters in New York City and Durham, North Carolina . We've helped more than 30 million people shop for all types of insurance like they shop for everything else — online — and have placed $35 billion in coverage. Policygenius launched in 2014 and is one of the early insurtech pioneers. We were named one of Inc. Magazine's Best Workplaces for 2018 and 2019.If you have dependents such as a spouse, partner, or children, life insurance is a must. The sooner you can get life insurance after you have depends, the cheaper and better. But how do you compare life insurance quotes when there are so many options?
Let’s review the main questions you should ask before getting life insurance in the first place. And then take a look at how to compare life insurance quotes.
Once your mortgage is paid off, or you’re retired, or your kids have graduated college, you really don’t need life insurance anymore.
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The problem many people have is figuring out what the right term life insurance policy is for them. That’s where Policygenius comes in.
Policygenius is a free online marketplace that acts as your one stop shop for all sorts of insurance policies. This includes life insurance, disability insurance, health insurance, homeowners insurance, renters insurance, and so much more.
Term life insurance is the most popular type of life insurance today that meets most people’s needs. If you want to look beyond term life insurance, however, you can explore all the different types of life insurance here.
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Policygenius is a website that allows you to compare life insurance quotes from the best carriers all in one place. They walk you through the insurance purchasing process step by step from start to finish.
I’ve personally met with the co-founders, Jennifer Fitzgerald and Francois de Lame, several times since the company’s founding in 2014. And I believe they’ve got a great culture, a fantastic product, and are the best life insurance comparison marketplace today.
Since Policygenius is not an actual insurance company, they are unbiased and will never sell your information. Their licensed experts advocate for you to help you find the best policy for your needs regardless of which carrier you choose.
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You can start by filling out your ZIP Code on Policygenius’s home page. This lets them ensure that you’re in a state where they’re a licensed broker. Then you can input your information for different types of life insurance. Once PolicyGenius has your basic information, you can compare different life insurance quotes side by side. That way you can choose the policy that’s most cost-effective for your needs.
Here’s a sample screenshot of how you can compare life insurance plans and review the best options recommended by Policygenius. It’s easy to modify the coverage amount and term length to compare additional quotes for free.
One thing to note is that Policygenius doesn’t work with any just any insurance company. They vet companies for financial stability, to insure you get the best insurance carriers possible. After all, if your insurance company goes bust, you’ll be hard-pressed to collect any life insurance.
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Once you’ve compared life insurance policies and find one you like best, you can then apply directly and securely through Policygenius. Policygenius’s licensed advisors handle the rest of the process and will contact you if they need any more information.
Policygenius only gets paid if you choose to purchase an insurance policy through them. And don’t worry about paying more for their services. There’s no extra cost for using Policygenius. They can actually help ensure you get the best rates possible because they advocate on your behalf.
The easiest way to compare life insurance policies and choose one is to utilize their Insurance Checkup tool. You simply input your basic information to start. Then it assesses things like your general level of worry, your ability to handle financial risks, and your family and financial situation.
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The Insurance Checkup tool can also be a good place to begin if you’re looking for potential gaps in your insurance coverage.
Policygenius is most well known for their life insurance marketplace that makes it super easy to compare life insurance policies. But, they’ve grown tremendously over the last few years and now have quotes for many other types of insurance.
If you haven’t shopped around for these other insurance options recently, check out Policygenius to see if you can get a better deal than your current coverage.
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Don’t mess around with your life if you have dependents. Be responsible and get a term life insurance policy that will cover all your costs in case of an untimely death. Providing financial security after you are gone is the least you can do.
Term life insurance is the best way to go due to the cost and the purpose. Check out Policygenius so you can see various tailored quotes all in one place instead of having to go carrier by carrier. PolicyGenius screens all the carriers and provides you the most custom policy for your needs.
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