7 Reasons You Should Consider Life Insurance Prequalification

When To Buy Insurance

Have you considered life insurance prequalification? The following is a guest post by KJ Price. KJ Prince is an insurance agent and the founder of Insurance Engine. When he’s not writing about insurance he enjoys technology, design, CrossFit, and fly fishing. If you’d like to submit a guest post on Money Q&A, please check out the site’s guest posting guidelines.

Life insurance prequalification is a process top-notch life insurance brokers utilize for uncovering important information about life insurance applicants. Prequalified life insurance quotes are not guesses or estimates, they are accurate rate quotes based on your actual life insurance risk profile.

In this article we’ll cover 7 reasons you should consider life insurance prequalification and how the process works. By the end of the article you’ll understand why you should get prequalified and how the prequalification process works.

You Should Consider Life Insurance Prequalification

So let’s jump right into the first reason you should get prequalified….

Life Insurance Prequalification is Usually Free

This is a no-brainer folks. Life insurance prequalification is usually free and without obligation. If your broker asks you for a fee to pre-qualify you, you should find a new broker.

The best life brokers utilize prequalification as part of their normal process. But not all insurance brokers are created equal. If you’re working with an impersonal, call-center brokerage then they probably won’t bother going through the lengthy (and costly) prequalification process.

These types of insurance brokerages are focused on getting you in and out of their agency as soon as possible. In fact, we’ve heard that some agencies monitor how long their agents spend on the phone with each client and incentivize them to spend LESS time with you! Therefore, they skip some of the most important parts of the prequalification process, which we’ll explain later.  

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