By Stephen S. Johnson
InsWeb provides you with quotes for everything from short-term medical coverage to insuring your boat or even your wedding-"Change of Heart" is not included. InsWeb also offers some content, as well as an auto analyzert o help you decide if your current policy is the one for you.
You can easily compare quotes from competing insurers. For example,apply for a 20-year, $1 million term life policy for a healthy, nonsmoking35-year-old male, and you'll get quotes from Lincoln Benefit Life at $225.68 per month ($2,655 per year) and Zurich Kemper offering $200.97 per month($2,310 per year). You get a break if you pay your premium in one lump sum. Straight away you can see that over the life of the policy, you cansave almost $7,000 with Zurich Kemper.
Seeking a quote for short-term medical coverage for a married coupleliving in Connecticut and their three children took all of 20 seconds andresulted in a one-time, three-month policy from Hartford that cost just $434.51 if they prepaid the premium. If they elected to pay monthly, anadditional $10 applies. No questions about health at all.
Insurance web sites worth your time.
QuickQuote offers more than 1,500 term life insurance and annuity plans and most recently added international health coverage for travelers. For example, if you're a U.S. resident but not a citizen, you can get a one-month $500,000 international health insurance policy with a $500 deductible. This would cover you, your spouse and two dependent children for your next trip abroad, and comes with a dangerous sports rider in the event you like to alpine ski or scuba dive-all for $315.50. If you like these terms, you must fill out the personal questionnaire and plug in your credit card to make the payment. Your policy is then sent by mail for your signature.
Quicken's InsureMarket offers quotes from many of the leading insurersin the U.S., such as MetLife, Zurich and Allstate. Here you can get quotes for a variety of term life options and plenty of direction to agents inyour area for home insurance, long-term care and disability income. Fora term life quote, you have to answer the same sort of questions that othersites ask-about age, health and lifestyle. (Do you fly a plane? Ride amotorcycle?) But there is also an extra question about your salary.
Doing the similar test of looking for term life insurance quotes fora 20-year $1 million policy for a healthy, nonsmoking 35-year old, the quotes ranged from $805 per year for Lincoln Benefit all the way up to$1,170 for the Prudential policy (Zurich was $860; Transamerica was $1,100).Even the high-end policies cost significantly less than the Lincoln andZurich quotes received from InsWeb. The lowest quote is $37,000 less than the highest quote from the InsWeb site.
The Term Life Shopping Insurance Network scans more than 40 companies offering term life insurance and then faxes you a spreadsheet showing what the company considers to be the lowest-cost policy. Not very interactive but the insurance industry is still wedded to paper.
Insurance OnLine claims to be the world's first interactive insurance marketplace. What it does is offer the visitor access to auto, homeowners and business owners insurance in his or her home state.