Life insurance is a very touchy subject because most people correlate life insurance with death and some just don’t like talking about death. Good for you for looking to protect your family’s financials when you pass away, you would be surprised on how many people in the U.S don’t have life insurance and don’t find it important to buy a policy. And yet here you are proving them wrong so you decided to look for life insurance quotes online. Of course, you probably saw one of the top search results to be Geico! This would be a wonderful idea since Geico is a very reputable and well-known insurance company. But are they the best life insurance company for you to buy coverage from? We will be unraveling Geico’s history and LifeQuote, who provides Geico’s life insurance products, as well as an honest review. The following are some key points from this article;
- Geico was established in 1936.
- Just like any other big box life insurance company, Geico also takes great pride in their community. Giving back and making their communities stronger is what they focus on the most. They support and encourage the good work being done in communities across the country by many of their 30,000 associates.
- With their wholly owned subsidiary of Berkshire Hathaway, Geico has more than $32 billion in assets which is a good sign because you want to buy coverage from a company that has money to pay out any policy.
- According to A.M Best, they have rated Geico an “A++” which happens to be the highest rating for financial strength. Standard & Poor’s awarded Geico with an “AA+” which is a very strong rating.
- It is important for you to read a company’s rating because it will give you an understanding of how financially stable the company is.
- Geico doesn’t have a life insurance product and simply send your information to a life insurance call center.
Geico 2017 Review
Today after 80 years Geico protects more than 15 million policyholders and insures more than 24 million vehicles. With their wholly owned subsidiary of Berkshire Hathaway, Geico has more than $32 billion in assets which is a good sign because you want to buy coverage from a company that has money to pay out any policy. According to A.M Best, they have rated Geico an “A++” which happens to be the highest rating for financial strength. Standard & Poor’s awarded Geico with an “AA+” which is a very strong rating. Geico is a wonderful property and casualty company but you will soon learn that they don’t have a life insurance product in their portfolio.
No Life Insurance from Geico
It would be quite cool if Geico offered life insurance because they know how to keep premiums competitive. Now, you might be wondering why do they offer life insurance on their site and the reason is that they will sell your information as a lead to a life insurance call center. The company who they sell leads to is known as Life Quotes which is a life insurance broker. This is not such great news since most people think they will be getting a Geico life insurance policy. Now, this large agency may not be a bad option but you’re better off working with an independent online agency like ours.
There is a Better Way
Mislead and transferred to a third party would make anyone upset but don’t fret and keep reading to find out the best course of action. Obviously, if you were looking into Geico your main concerns were to find a reputable company with affordable rates. So below are a few steps to follow to get the same end result.
1. Work with an independent agency
This is a great way to make sure you are getting the best deal in the entire market. Since independent agencies are not tied to anyone company they are able to compare rates with all the companies in a matter of seconds to get you the best rate.
2. Verify quote accuracy
Life insurance rates are same no matter where you go. Be sure to let your agent know of any medical conditions or past records so your quote is accurate. If you have 30 seconds go below this article and fill out our super simple and quick quote engine so that you can see for yourself what other top rated companies are offering you. Not only will you be able to see what other top rated companies have to offer you but you will also be able to compare them all! Or you can take advantage of our FREE service!
3. Do your research
Make sure you check the plan details and carrier financials to see if you’re going with the best option possible.
Life insurance provided by LifeQuote
Like we mentioned earlier, LifeQuote is the third-party affiliate that sells life insurance for Geico. LifeQuotes on their website state that they operate as a “fast-paced environment on a goal-oriented basis” but a question popped into my head, why are they in a hurry and what is their goal? They also stated that they generate up to 750 leads per day and follow-up on applications which made me realize that they must be a call center. Call centers don’t usually have very personable agents working for them, it’s like a robot system and people really don’t like that. We can’t blame people for wanting an actual live person to speak to but not only read off a script but actually, have a conversation, we are only humans we want to feel that connection!
Work with us!
Now that you know that Geico doesn’t have life insurance products there is no need to be upset. Because here at InsureChance, we work with over 60 top rated life insurers and allow you to compare rates instantly right here on our site. This allows you to get the most competitive rates based on your health and lifestyle. In addition to that, we have the most knowledgeable agents ready to lend you a hand with no sales pressure or gimmicks. Get a quote or call us today at 888.492.1967!
