It’s understandable that you might be wary of giving too much information away when you want an instant life insurance quote. After all, we’re all aware of the seemingly-daily news stories of personal data being stolen.
But with the right safeguards, your information can be kept safe. And providing enough of it upfront when you’re looking for life insurance quotes means that you’ll get quick and – more importantly – accurate quotes.
The health information you provide will help determine your underwriting classification, which is essentially how risky you are for an insurer to insure. That classification will determine how much you pay for life insurance. Insurers will get a detailed report of your health throughout the application process by asking you some specific questions, setting up a paramedical exam for you, and (sometimes) requesting medical records from your doctor. When you’re looking for instant life insurance quotes, you can provide some of this information up front to get an idea of how much life insurance would cost you.
Some companies that provide instant life insurance quotes ask you to fill out only a few fields. Your name and contact info (so they can try to upsell you to coverage you don’t need), your smoking status, and a rough non-expert guess about the state of your health is usually on there. And...that’s where it stops.
That’s technically all you need to get an instant life insurance quote. But what it leaves you with is an inaccurate, incomplete quote, because (as just one example) to officially rate your health level according to insurance underwriting tables, the insurer will need to look into your family health history and ask more upfront questions about various illnesses. That means if you fill out a shallow quote request form, you’ll inevitably have to get on the phone and give more information later in order to find out what you’re actually going to be paying.
If you’re looking for quotes at somewhere like PolicyGenius, our coverage calculator asks for just the right amount of information to make sure you get an accurate quote right then and there. First, we’ll ask you a little bit about yourself. Then for your health history, instead of just asking whether your health is "Excellent" or "Good" (unless you’re a doctor, you’re going to have a little trouble knowing that), we’ll dive deeper into factors like family health history and any medication you take for conditions like high blood pressure or high cholesterol.
People in good health are essentially done at that point. If there isn’t anything more to look into – no history of health problems, no medications – some people can move right on to quotes.
However, if you do need to provide us with more information, we’ll guide you through a few more areas. Details about your cholesterol levels and specifics on health issues that may run in your family help build a better picture so we can give you an accurate quote.
We’ll also ask about your driving record. This might not seem as obviously important to your life insurance rates as your health history, but people with histories of reckless driving, DUIs, or suspended licenses pose a higher risk to insurers, making it more costly to get insured.
In the grand scheme of things, you don’t have to give PolicyGenius much personal information to get an instant life insurance quote. We don’t ask for your Social Security number, don’t require a credit card – heck, we don’t even need your email address. You give out more to places you order takeout from!
By asking the right questions, we can make the quoting process accurate while keeping it quick and easy. All of this is done so there are fewer surprises once you decide to move from looking for a quote to actually buying insurance and putting down your own hard-earned money to protect your family. The last thing you want is to find the right life insurance policy and find out it’ll cost you more than you thought.