Have you ever been approached by a friend or acquaintance who wants to sit down over coffee and talk about your financial planning needs?\u00a0 Chances are, if you took the meeting, the subject of life insurance was one of the first topics addressed.\u00a0 And during the meeting you are told that no matter what your life situation — married, single, divorced, kids or no kids — you either need life insurance or need more of it.\u00a0 This very common phenomenon is what makes the entire topic of life insurance and the process of getting it dreaded and irritating.\u00a0 And that\u2019s a shame because life insurance can be a valuable financial planning tool under the right circumstances, but many who know they need it shy away from the process.<\/p>\n
A new web site promises to take the salesman out of life insurance and in fact, eliminate the need for any human contact whatsoever.\u00a0 According to 1clickcoverage.com:<\/p>\n
\u201cThe process has been made simple; the customer answers a few underwriting questions, no medical examinations are required, if qualified a rapid approval is issued and the policy can be paid for and printed immediately through the internet.*\u00a0 There are no phone calls, no waiting for your policy just fast reliable and affordable insurance made easy.\u201d<\/em><\/em><\/p>\n We researched the asterisk \u201cgotcha\u201d\u00a0 after the line about \u201cpaid for and printed immediately through the Internet\u201d, but found out it simply refers to the fact that in California the policy will be mailed instead of downloaded, hardly a significant hurdle to a 100% online experience.<\/p>\n 1ClickCoverage is the brainchild of National Brokerage, a life insurance brokerage that specializes in technology.\u00a0 The carrier behind the coverage and its subsidiaries are highly rated for financial strength by services such as Standard and Poor\u2019s and AM BEST.<\/p>\n So is there any catch?\u00a0 At this point the site is limited to term life insurance policies with a benefit maximum of $350,000.\u00a0 We were not able to compare pricing against other leading carriers, but we would not be surprised if premiums are slightly higher due to the easy underwriting and no medical examination requirements.\u00a0 So what\u2019s the bottom line?\u00a0 If you need term life insurance and have been procrastinating getting it because you do not want to meet with a salesman or endure an examination 1ClickCoverage.com is an option you might want to consider.\u00a0 And while we always encourage consumers to compare pricing, for those wishing to avoid the time and hassle involved in the life insurance process a slightly higher premium may be more than worth the extra cost.<\/p>\n