Shopping for disability insurance online can be a convenient way to purchase disability insurance but  can also be tricky and confusing.  Here are a few tips to purchasing an individual disability insurance online:

1)     Find out exactly who you will be working with and choose to work with an experienced broker. Many websites call themselves experts without full disclosure of who they are. What makes them an expert? Where were they educated? Do they have degrees in insurance such as a CLU or ChFC?  Disability insurance is very specialized and it is important you choose to work with someone who has a lot of experience in this area. Additionally, make sure you are working with an independent broker who can show you multiple options instead of one company. This will save you time and your broker can objectively advise you.

2)      Don’t work with a site that generates leads. Some sites will sell your information to multiple agents. This will create a slew of people contacting you. I can also create privacy issues.

3)      Find out information about the company. If the company simply states they are experts but doesn’t disclose who they are or are located, this can be suspect.  Because you are not meeting face to face, make sure you know who you are working with and that they are qualified. Ask for references. Find out if they have a strong rating from the BBB Better Business Bureau and see if they have any complaints.

4) See if there is anything that sets a company apart such as special discounted rates. Since rates are regulated by the insurance company, the rates should be the same from all of the sites. However, some brokerages have set up special discounts that will set them apart.

5) Work with a company that represents several companies. This will allow you to compare your options with one company and alleviate the need to go to multiple sites.

For more information about disability insurance and to request a personalized quote comparison, please contact the Set for Life Insurance office today!