Chase Life Insurance Review

However, there is no time spent opening checking accounts, selling mutual funds, and playing corporate politics. This allows the best agents to find you the best deal for your unique situation. 

Finding the best deal for your unique situation is sometimes but not usually as easy as using the quote tool. This is because different insurance carriers have different appetites for specific risks.   

Choice of Carriers

Banks like Chase and huge agencies like Select Quote and  Zander offer the best deal among the carriers they carry. This is no different than most independent agents, accept they have  fewer companies from which to choose.  

The reason for this is simple, they negotiate the highest commissions in the industry because they do big volume business. In order to maintain the volume requirements for specific carriers they must limit the number of carriers. This may be sound business for them, but it limits your ability to find the carrier that best fits your unique situation. In short their business model has no use for niche carriers.

Experienced independent life insurance agents have the niche carriers available and, they understand the underwriting guidelines.

if you are in perfect health knowing the guidelines shouldn't matter because you will be preferred plus everywhere. in this case you really can just use the quote tool. However, if you have a health condition, having an agent that  knows the underwriting guidelines at various carriers is the key to finding the best deal possible for your specific condition. 

Experienced agents will also be better able to talk intelligently about the cost benefit of available riders. these include accelerated benefit riders, child riders, and waiver of premium riders. 

Example of Using an Experienced Independent Agent Rather than a Personal Banker 

For example Prudential may have more of an appetite for the risk that Grave's presents than say Banner Life. In this case the underwriting grade will reflect this increased appetite.

So, if your personal banker only represented one carrier and you found out later that that you could have gotten a rate 50% or 60% better, how would you feel?

You'd probably be peeved either at the banker or yourself or both. So it's important that your Agent represent multiple carriers.

In fact a good independent agent will have access to over 50 carriers. This ensures the best chance at a good rate.

Case Study: Pricing Life Insurance with Grave's Disease

Please see the case study below . it will show why it is in your interest to have as many options as possible available when shopping for life insurance with Grave's disease or any other impairment.

Gender: Female Age: 29

$1000000 20 Year Term

Tobacco: No

Well controlled mild Grave's Disease. Diagnosed Age 28

Iodine only No Other Health Concerns

This looks like a best case scenario that would be either Preferred, Standard Plus or Standard depending on the insurers appetite for a Graves disease risk.. Let's take a look at the rates.

This table which shows only a few of the major life insurance companies available illustrates the difference in rates. For Preferred rates North American is 25% more expensive than Banner.

On it's face this seems like a pretty straight forward choice and if underwriting grades between carriers is the same, it really can be that simple. This kind of easy price shopping is particularly useful for younger folks in good health and demonstrates why you want to use an independent Agent.

For people who suffer from Grave's or any other serious diagnosis, it gets much more complicated.

Because life insurers manage their appetite for specific risks by being more lenient or more stringent with underwriting grades, you need to know which company will grade you a preferred risk and which ones will grade you as standard (or worse).

In the case above, because the grave's is well controlled and the applicant is in excellent health,  North American(the most expensive standard rate) is not a factor. However, if her health was not quite as good as this example, NA would likely be among the best deals because of more lenient underwriting.

That is if the more competitively priced carriers dropped her rating to standard or standard plus NA would likely be the best deal because they might still rate her as preferred.

This is something you can't know by simply looking at the lowest price. 

Your Next Step

Thank you for reading about Chase life insurance options at the Bequest Mutual. Now that you know the information you will need to receive the most accurate quote possible, it's time to gather the information and speak to an independent Agent (raising my hand).

Simply give us a call or shoot an email over and we can get you started. We are committed to totally transparent pricing (we'll even share our computer screen with you if you'd like), and making the application process as painless as possible.

If you have any questions, We'd like to hear them.