Customers choose how much they want to pay for a term life insurance policy
Miami, Florida (PRWEB) June 28, 2010
An online life insurance firm is breaking new ground with an exclusive web-based system that lets customers choose how much they want to pay for a term life insurance policy. With the introduction of the Select Your Price™ concept, consumers with tight budgets in a tough economy are in the driver’s seat, selecting the price they can afford to pay for life insurance coverage.
“This is a new and very unique approach for people who want to buy life insurance for their families but have a specific budget in mind,” says E.C. Gordon, Chief Executive Officer of Cheapest Life Insurance (CLI) http://www.cheapestlifeinsurance.com. “Life insurance has never been more affordable and with what we call term life insurance on your own terms ™ consumers are totally in charge, naming the price they want to pay and controlling the amount of coverage.”
Cheapest Life Insurance’s proprietary software system allows buyers to input a monthly price and the quoting technology shops the market of top-rated life insurance companies for the best rates that most closely match the selected amount. The buyer is given a limitless choice of re-calculating the amount of coverage or the length of the term policy until they find the policy that best suits their needs.
Term life insurance is a type of policy that lasts a specific period of time— from five to thirty years—with a benefit that is paid out to beneficiaries at the time of the insured person’s death. The amount of coverage averages from about $50,000 to millions of dollars.
The Internet is crowded with hundreds of competing brokerage firms offering life insurance quotes online. Prospective buyers answer only a few questions--- age, gender, smoking habits and the State of residence before receiving numerous quotes from different life insurance carriers. But Cheapest Life Insurance appears to be the first in the market to offer buyers the choice of selecting a monthly price before displaying policy choices.
Another unique offering for Cheapest Life Insurance shoppers is the option of speaking to a licensed agent online using “Live Chat™” technology. Surveys show online shoppers would rather chat with customer service right away, rather than pick up the phone, wait on hold or wait indefinitely for an email response.
Mr. Gordon says buyers are reacting positively to the new life insurance shopping concept, especially because the economy is forcing consumers to look for ways to stretch their dollars. Many Americans forego life insurance coverage thinking that it is unnecessary and too expensive, according to the non-profit Life and Health Insurance Foundation for Education (http://www.lifehappens.org). The group sites studies that show 40 percent of adult Americans have no life insurance and over 50 million people in this country lack adequate life insurance coverage. That often leaves families in financial crisis after the unexpected loss of the main breadwinner.
About The Company:
Cheapest Life Insurance (CLI) http://www.cheapestlifeinsurance.com is a subsidiary of LifeQuote Holdings, Inc., http://www.lifequote.com , a pioneer in online life insurance brokerage since the early 1990s. The firm was one of the first to offer consumers life insurance quoting technology via telephone in 1986, prior to developing the Internet business model. The innovative thinking behind CLI is the brainchild of an executive team made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development and search engine optimization, who bring their vast experience to this one-of-a-kind concept. The company CEO is a respected leader in his field and coveted public speaker at national industry meetings. To find out more, please visit http://www.cheapestlifeinsurance.com.
Ileana Bravo, Media Relations
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