A low-load insurance company is one of the insurance industry’s best kept secret. These are life insurance carriers who sell their policies at little or no commission.
Don’t go for these companies unless you’re very sure you know enough about life insurance and do not need an agent to guide you through.
Insurance agents help you get the best package for your needs. This option is for those who are pretty confident that they know what they need and what they should do. The role an agent plays is very vital to your financial planning.
You’ll get very low rates if you buy your policy from a low-load company. For example, one such company offered a 30 year old woman $250,000 coverage for less than $200 yearly. Although you’ll attract very low rates, you can make the mistake of a lifetime if you don’t know enough to make a life insurance decision without an agent’s assistance.
It’s important to note, though, that a number of traditional insurance companies now offer low-load life insurance policies and they do so through their agents.
Finally, since what you really want by buying from a low-load company is lower rates, you can still use an agent and get very affordable rates if you choose certain insurers.
All you have to do is get and compare quotes from up to five or more insurance companies. If you do this well you can save between a few hundred dollars and a thousand or more. The simple reason for this is that you’ll more likely find insurers who offer better rates.