Quotacy takes the complicated process of finding and buying a life insurance policy and makes it a breeze. More specifically, it is the first-ever online marketplace to offer life insurance quotes without asking for contact information.
Founded in 2014, Quotacy has helped more than 41,000 secure life insurance, providing more than $28 Billion in placed coverage. They also boast an A+ rating by the Better Business Bureau® and 4.9/5 customer rating on Trustpilot.
Quotacy’s esteemed reputation stems from the combination of its ethical business model and expert-led support along every step of the way to purchasing life insurance. Quotacy works by pairing you with one of their salaried, non-commissioned experts whose only goal is to help you find the best rates from top insurance companies and compare them with those offered by other top-rated life insurance companies on the market.
Through this process, Quotacy helps to make sure you’re getting the best price for your life insurance. Upon finding a policy that works for you, they then take care of the paperwork and keep you informed every step of the way.
Want to know if Quotacy is right for you? Continue reading below to learn more about everything Quotacy has to offer.
While Quotacy mainly offers term life insurance, through their parent company, Hallett Financial Group, Quotacy is also able to offer the following additional life insurance options:
- Guaranteed Universal Life Insurance: Guaranteed universal life insurance is an affordable way to buy permanent insurance protection. As long as you pay your planned premiums to keep your policy active, your beneficiary will receive the guaranteed death benefit when you die.
- Whole Life Insurance: Whole life insurance is continuous coverage that lasts your lifespan (as long as you pay the premiums). Your premiums are fixed and will not change. Whole life policies also accumulate a cash value that you can borrow against or withdraw from. Some whole life insurance policies also pay out dividends.
- Final Expense Life Insurance: This is a small life insurance policy designed for individuals aged 50-80 to leave behind enough funds to cover their funeral and end-of-life expenses. Approval is guaranteed with no medical exam or health questions.
- Individual Disability Insurance: Individual disability insurance provides monthly income if you become disabled and are unable to work. Disability benefits will continue as long as you are disabled according to the policy’s provisions.
The process for applying for term life insurance is very simple and explained below.
Step 1: Figure Out How Much Coverage You Need for Your Term Life Insurance Policy
Their free, online quoting tool has a sliding feature that allows you to move (increase and decrease) the amount of coverage and the term length. As you make adjustments, your quoted rates change accordingly so you know what you would pay.
After you find the numbers that fit your needs, you’ll be given policy options from top insurance companies. And the price for each policy is conveniently displayed so you know the rate you are applying for.
Step 2: Start Your Application for a Term Life Insurance Quote
Once you have found the policy you want to move forward with, you’ll create an online account with Quotacy. Any information shared when creating your account is private and it will never be sold to third parties.
After you have finished setting up your account and successfully submitted your pre-application, Quotacy will email you a “Kickoff doc” to sign electronically. This online pre-application will only take a few minutes. Once that’s done, they’ll send it to the life insurance company for review. Submitting this application does not commit you to purchase the policy.
Step 3: Quotacy Checks to Make Sure You’re Getting the Best Life Insurance Policy
After your online pre-application has been submitted, a Quotacy agent will review your information to make sure you’re matched with an ideal insurance company and check to see if there’s a better fit available.
After the review, one of Quotacy’s agents will reach out if they think there are better options available from a different company. You can then review your options and pick the company and policy you wish to move forward with.
Step 4: Complete a Phone Interview to Go Over Your Application for a Term Life Insurance Policy
After your application has been submitted to the insurance company, one of their representatives will reach out to schedule a confidential phone interview to clarify answers on your application and learn more about you.
Step 5: Complete the Free Medical Exam for Your Term Life Insurance Policy (if needed)
Most life insurance companies require a simple medical exam. Fortunately, Quotacy makes the process simple. The medical exam is completely free, can be conducted wherever is most convenient for you, and only takes around 20 to 30 to complete.
Step 6: The Approval Process for Your Term Life Insurance Policy
Once the insurance company has your application and you have completed your phone interview and medical exam, all you have to do now is wait. At this point, they will review your medical records.
Quotacy will keep you updated as your application moves through the approval process. If there are any issues, they will contact you and go over your options. After your application has been approved, you will have 30 days to review your policy. If you have any issues or concerns, you can change it or receive a refund.
For other types of life insurance, the process for applying is different. The different processes are described below.
- Guaranteed Universal Life Insurance: To receive a guaranteed universal life insurance quote, you have to go to the same online quoting tool described in step 1 above for term life insurance, run a quote, and move the slider under Length of Coverage all the way to the right to Forever.
- Whole Life Insurance: Visit this page to receive a custom whole life insurance quote
- Final Expense Life Insurance: Visit this page to get a final expense life insurance quote.
- Individual Disability Insurance: Visit this page to receive a custom individual disability insurance quote
While using Quotacy’s service is completely free, you can expect to pay all standard fees associated with life insurance upon purchasing a policy through Quotacy’s marketplace.
What you can expect to pay for your specific policy is dependent on your situation, needs, and even location. There is no one set price when it comes to life insurance policies.
Quotacy’s dedication to simplicity, education, and expert-led guidance makes it one of the best life insurance solutions on the market. With an initial application process that takes just minutes to complete, transparent communication with an assigned personal Quotacy agent at every step of the way, and a commitment to only working with best-in-class, financially-secure, and highly-rated life insurance companies, Quotacy is one of the best and easiest ways to secure your family’s future.
Want to check out Quotacy for yourself? Visit their website and get a free quote today.