Reader question:

Should I buy term life insurance online?  I live in Houston Texas, if that matters at all.

Malcolm

Thanks for asking.

You CAN buy term life insurance online, but there’s an added question of whether or not you should. Online life insurance policy purchasing has its own pros and cons, so let’s look at a couple of those.

First of all, if you buy term life insurance policy online for yourself, then the company is probably going to forego the medical exam. Yeah, I can hear you cheering now, because you’re sure something terrible will come up in a medical exam, but for many people that’s an unfounded fear. Just because online life insurance doesn’t ask for a medical exam doesn’t mean you’re really saving money; you could end up paying more for less coverage.

At the same time, it’s hard to compare on a larger scale. Some companies discount online policies, while others do allow you to schedule medical exams and later purchase the final policy online, and companies save money selling policies online, and that helps you. So which is the best option? It’s best to take it on a case by case basis and get plenty of quotes.

take care,

Fashun

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