Buying Life Insurance Online-Laws by State

[mmdz33018]

Hi Everyone,

I'm looking to understand the different laws by state of selling,buying and quoting term/whole life online. I know if you look at MetLife for either term/whole online you cannot buy a policy online in the State of NY.

Any help you could give would be greatly appreciated,
Raj

I apologize for the thread going on a whole different direction. What I was trying to say is that life insurance is a very complex financial product. It is not like the other insurance policies that can simply be bought online withing a few minutes like advertised. It requires interaction with a licensed professional to complete the transaction. I speak only for the state of Florida.

I hope this helps bud.

 

[Norwayguy]

Yet we speak about life insurance which is sold with a Life and Health license so why do you keep referencing actions from P&C agencies.

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I apologize for the thread going on a whole different direction. What I was trying to say is that life insurance is a very complex financial product. It is not like the other insurance policies that can simply be bought online withing a few minutes like advertised. It requires interaction with a licensed professional to complete the transaction. I speak only for the state of Florida.

I hope this helps bud.

Yes and no it can be much simpler in its basic form than a covered claim under a P&C policy what can be simpler than your dead and we pay. Though I agree it can get much more complicated such as a VUL. I get what your saying and agree speaking with a knowledgable agent is good but it is incorrect to say it can not be purchased online through a website even in Florida.

 

[mmdz33018]

I'll make it simple, the rep is a licensed agent.

Also, if you do it completely online, they'll just have a licensed agent sign off on it. You never spoke with a soul.

When people who would ask me if I was an insurance agent I would say no. I am customer service rep and explain the difference. I am not trying to argue but there really is a huge difference. A CSR is simply licensed to assist(in limited ways) the P&C agent in insurance transactions. They deal with higher volumes so it only makes sense. I know this is not a P&C thread and you might delete this but your information really is inaccurate.

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Yet we speak about life insurance which is sold with a Life and Health license so why do you keep referencing actions from P&C agencies.

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Yes and no it can be much simpler in its basic form than a covered claim under a P&C policy what can be simpler than your dead and we pay. Though I agree it can get much more complicated such as a VUL. I get what your saying and agree speaking with a knowledgable agent is good but it is incorrect to say it can not be purchased online through a website even in Florida.

I appreciate the the further clarification. I really do. The simplicity I was referring to was in regard to the quoting and binding of the policy, nothing else. When I took my state exam that is what I was taught. Thank you very much because I was unaware that is was possible. I stand corrected.

 

[Norwayguy]

When people who would ask me if I was an insurance agent I would say no. I am customer service rep and explain the difference. I am not trying to argue but there really is a huge difference. A CSR is simply licensed to assist(in limited ways) the P&C agent in insurance transactions. They deal with higher volumes so it only makes sense. I know this is not a P&C thread and you might delete this but your information really is inaccurate.

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I appreciate the the further clarification. I really do. The simplicity I was referring to was in regard to the quoting and binding of the policy, nothing else. When I took my state exam that is what I was taught. Thank you very much because I was unaware that is was possible. I stand corrected.

Probably most of the confusion is Floridas weird way of licensing agents. Most states have 1 P&C license no baby licenses like the difference between 220 and 440 and please excuse if I put them up wrong just not relation to what I am used to.

 

[mmdz33018]

Probably most of the confusion is Floridas weird way of licensing agents. Most states have 1 P&C license no baby licenses like the difference between 220 and 440 and please excuse if I put them up wrong just not relation to what I am used to.

Not at all you are right on!!!!

 

[VolAgent]

When people who would ask me if I was an insurance agent I would say no. I am customer service rep and explain the difference. I am not trying to argue but there really is a huge difference. A CSR is simply licensed to assist(in limited ways) the P&C agent in insurance transactions. They deal with higher volumes so it only makes sense. I know this is not a P&C thread and you might delete this but your information really is inaccurate.

Not really. A company chooses who they hire. If they are going to need licensed agents due to state laws, guess what? They will require all their reps to be licensed agents.

You really are over thinking this. A company that is smart will do what it needs to comply with the law.