LifeQuotes.com Announces Major Enhancements to its Comparative Life Insurance Rater. New Innovations Empower Life Insurance Shoppers to Make Smarter Decisions

From anonymous quoting to total price transparency to paperless purchase, LifeQuotes.com speeds customer access to insight and savings

DARIEN, Illinois (October 22, 2019) – LifeQuotes.com, the online life insurance price comparison service that offers instant quotes from 43 leading life insurers and allows customers to buy from any company shown, today unveiled a suite of innovative enhancements that speed up and simplify the life insurance shopping process.

“We know that today’s life insurance shoppers have a lot on their minds,” said LifeQuotes.com founder and CEO, Robert Bland. “The experience of advising and placing 360,000 policies on our platform has helped us make both digital and human service advancements that solve the problems of customer confusion and high cost when it comes to selecting an appropriate life insurance policy. At LifeQuotes.com, matching customer needs to the most appropriate life insurance policy at the lowest possible cost has now become an exercise measured in minutes instead of days or hours.”

The functional enhancements being announced today pertain to the company’s desktop and tablet platforms.

Robert Goss, executive vice president, said, “We modernized our home page at www.LifeQuotes.com to show real-life examples of coverage needs. We now display a live feed of customer reviews, which have averaged 4.62 Stars based upon 73,200 reviews, we posted the most common Questions and Answers for customer convenience and we made one-click access to other lines of insurance that are being provided by trusted partners. The net effect of these enhancements is that the life insurance customer becomes educated about the financial, lifestyle and health factors that affect the price of life insurance.”

Features available to LifeQuotes.com visitors include:

  • Anonymous, instant quotes guarantee customer privacy and ability to window shop at ease and on your schedule. Credentialed counselors are here to guide you when you ask for advice or help, but none will call at dinner time.
  • A 43-company database that includes term life up to $25 million, no-exam plans up to $2.5 million, guaranteed-for-life universal life and whole life policies that provide level death protection and level premiums for life, no-exam burial policies up to $25,000 and instant-issue, no-exam accident-only policies.
  • Customers are offered the convenience of no-exam underwriting, digital applications with voice and e-signature depending upon each insurer’s service model.
  • For those plans that do require a paramedical interview, our speedy application management process results in 80% of policy deliveries in under 35 days, which is significantly better than industry averages.

Improved Rater Delivers Better Accuracy

  • The Tobacco Use selector now includes categories for those who use marijuana
  • New questions about government assistance and credit issues will filter out plans that do not accept such applicants
  • A new and improved citizenship question now includes categorizes for many types of Visas including no Visa
  • Expanded health questions improve quote accuracy on some 35 common illnesses including diabetes, heart disease, cancer, sleep apnea, anxiety and many more. Being able to accurately quote these customers from the start helps avoid later delays, rate-ups and declines.

Life insurance premiums fall to all-time lows

The following annual sample annual premiums were obtained from a survey completed by Lifequotes.com of 50 leading life insurance companies as of October 19, 2019.

$250,000 Term Life Sampler
Female Annual Premiums
Age10 Year20 Year30 Year
30$105$134$198
35$107$147$220
40$130$183$280
45$182$258$403
50$245$359$616
55$341$536$1,079
$250,000 Term Life Sampler
Male Annual Premiums
Age10 Year20 Year30 Year
30$115$151$230
35$115$162$255
40$140$212$341
45$202$315$509
50$284$461$811
55$442$718$1,437

“Because life premiums are at or near historic lows, buyers can now lock-in great rates for their choice of ten to thirty years. And we also offer lifetime policies that feature level death benefits and level premiums for life,” Goss continued.

Economic uncertainties have made the need for basic life insurance more important than ever because personal life insurance proceeds are generally not taxed as income to the beneficiary.

$500,000 Term Life Sampler
Female Annual Premiums
Age10 Year20 Year30 Year
30$140$196$320
35$160$215$355
40$197$295$480
45$290$440$718
50$405$645$1,113
55$590$994$1,996
$500,000 Term Life Sampler
Male Annual Premiums
Age10 Year20 Year30 Year
30$160$229$380
35$175$250$421
40$217$308$603
45$320$555$935
50$489$836$1,508
55$809$1,353$2,738
$1,000,000 Term Life Sampler
Female Annual Premiums
Age10 Year20 Year30 Year
30$210$303$540
35$230$349$624
40$301$502$895
45$505$801$1,371
50$710$1,173$2,118
55$1,095$1,909$3,930
$1,000,000 Term Life Sampler
Male Annual Premiums
Age10 Year20 Year30 Year
30$240$374$670
35$260$412$763
40$324$595$1,117
45$552$1,040$1,781
50$855$1,618$2,924
55$1,495$2,612$5,620

When it comes to life insurance, many U.S. adults are uninsured or underinsured. According to the Life Insurance Market Research Association (LIMRA), a whopping 30 percent of U.S. households (35 million) do not have any life insurance and only 44 percent of U.S. households own an individual life insurance policy.

Past Accolades for LifeQuotes.com

  • 2021: LifeQuotes.com Celebrates 1,000 Google Reviews Averaging 4.8 Stars
  • "2017 Life Insurance Innovation" award winner... Life Insurance Direct Marketing Association
  • "The premier Web site in terms of details and ease of use..." -- Yahoo! FINANCE
  • Twice Ranked #1 life insurance website by Kiplinger's
  • Named a "100 Most useful website" by MSN Money
  • Past Winner: Forbes' "Best of the Web"
  • "The best website I've found..." -- Dallas Morning News
  • "...we'd recommend you do your insurance shopping here..." -- Barron's
  • "...outstanding - as good as a Web site on insurance can possibly be. Hats off and a gold star to the top insurance site on the Web." -- Insurance for Dummies

About LifeQuotes.com

LifeQuotes.com is an insuretech pioneer that caters to self-directed life insurance shoppers at www.lifequotes.com. The company's innovative technology allows customers to instantly view quotes from 40 insurers and buy from the company of their choice on a paperless basis. The company's comparative rater also reveals underwriting guidelines for improved accuracy. More than 390,000 people have purchased policies through LifeQuotes.com since the firm's founding in 1984. According to Data Bridge Market Research, the insuretech market is expected to witness market growth at a rate of 42.4% in the forecast period of 2021 to 2028 and is expected to reach $46 billion by 2028.

Survey Methodology

Life insurance policies described, quoted, shown and illustrated in this press release may not be available in all states and certain terms may vary by state where required by state law. The supplemental policies described provide limited benefits and are NOT comprehensive health insurance or major medical insurance and they do NOT satisfy a person's individual obligation to secure the requirements of minimum essential coverage under the Affordable Care Act (ACA). For more information about the ACA, refer to http://www.HealthCare.gov. Policies examined include American Family Life Insurance Company, Madison, WI, policy form ICC14-LD10001; American National Insurance Company, Galveston, TX, policy form ART 12; Assurity Life Insurance Company, Lincoln, NE, policy form I L1702; Banner Life Insurance Company, Urbana, MD, policy form ICC08-LIA, and William Penn Life Insurance Company, Garden City, NY, policy form LIA-WP, both Legal & General America companies; Foresters Financial of Toronto, Canada, under form ICC16 770620; Haven Life Insurance Agency, Issued by C.M Life Insurance Agency, LLC, a subsidiary of Massachusetts Mutual Life Insurance Company (Mass Mutual) of Springfield, MA. Policy form # ICC19PCM-SI 0819); Lincoln Life & Annuity Insurance Company of New York, Syracuse, NY, policy form LEF06321-18_7-10, and The Lincoln National Life Insurance Company, Fort Wayne, IN, policy form LEF06321_5-12, both insurance company affiliates of Lincoln National Corporation, whose marketing name is Lincoln Financial Group; John Hancock Life Insurance Company (U.S.A) of Boston, MA 02117, on policy form number ICC16 2016TERM and John Hancock Life Insurance Company of New York, Valhalla, NY 10595, Minnesota Life Insurance Company and Securian Life Insurance Company of St. Paul, MN under policy number F76777-15; Pacific Life Insurance Company of Newport Beach, CA, policy form P16YLT. North American Company for Life & Health Insurance, Chicago, IL, policy form LS174; Penn Mutual Life Insurance Company of Horsham, PA, under policy form ICC13-LT; Principal Life Insurance Company of Des Moines, IA, under policy form ICC17 SN 104; Protective Life and Annuity, Birmingham, AL, policy form TI-15; Pruco Life Insurance Company of New Jersey, Newark, NJ, policy form ORD 96200-2010, me