LifeQuotes.com, the online insurtech that offers comparative quotes from 40 leading life insurers and allows customers to purchase from the company of their choice, recently announced it has topped 400,000 customers insured and confirmed that life insurance prices are now at all-time lows despite rising COVID deaths.
“Our business model is firing on all cylinders. We just completed our 11th consecutive year of profitability and recorded a 20% increase in delivered policies for 2021 vs. 2020,” said LifeQuotes CEO Robert Bland. “And we’re off to a jackrabbit start so far in 2022 with submitted applications up 55% vs. the same period in 2021. Revenue streams from new business, returning customers and renewal income are all contributing nicely to what we expect will be a growth year in 2022.”
In a statement, the Darien, Ill.-based company said LifeQuotes’ proprietary technology enables easy, instant comparison of life insurance rates among leading insurers. Hallmarks of the LifeQuotes platform are anonymous quoting and a buying process that discloses actual underwriting guidelines to all customers on a pre-purchase basis resulting in fewer rate-ups and declines.
The comparative selection of 40 insurers’ rates is meant to ensure maximum savings. About 10 of the 40 listed insurers are currently providing instant-decision underwriting. Salaried telephone specialists assist and inform without any sales pressure.
“We’re thrilled to have reached 400,000 customers insured,” said vice president, Michelle Zieba. “Against the sobering backdrop of rising COVID deaths, we want consumers to know that life insurance prices are currently at all-time lows, making this an ideal window of opportunity to buy.”
A recent Reuters analysis revealed that COVID deaths hit an 11-month high on Jan. 23.
Other unique attributes of the LifeQuotes.com platform include automatic quoting of Final Expense, Term Life, Whole Life and Universal Life, no-exam plans up to $2.5 million and accidental death plans.
Bland continued, “Our selection, savings and service model resonates well with today’s COVID-weary life insurance shoppers. The instant quote technology that we pioneered and brought to market enables us to render more accurate quotes and happy outcomes to applicants, including those who have health histories such as diabetes, heart disease, cancer, sleep apnea, anxiety and more.”