Nobody likes to buy life insurance, let alone which company to buy it from. However, with the internet, it is easier to find the best life insurance company (especially one that you can use to quickly apply online). You can have access to the Best Online Life Insurance Companies for Students.
Like almost every other financial product, the life insurance industry has been loaded. You can now buy life insurance online and complete the entire process online without ever speaking to anyone.
Shopping for life insurance can be annoying. But the days when you had to speak to an agent/seller to get a quote are over. Now online life insurance companies are making it easier than ever to get the insurance you need to protect your family.
However, the range of options for student life Insurance is growing day by day. Fortunately, getting a life insurance quote from most companies is quick – knowing where to shop can still be tedious.
In this article, we equip you with everything you need to know about online student life insurance companies.
Why do I need an online life Insurance?
One of the major advantages of an online life insurance company is a simpler application process. You can fill out the application online without having to fill out multi-page paper applications.
They also offer the ability to easily compare prices or get coverage for certain illnesses commonly referred to as high-risk life insurance.
That’s why we’re breaking down the list of the best online life insurance companies for students. These companies make shopping for life insurance easy – by keeping the process online and fast.
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List of the Best Online Life Insurance Companies for Students in the World
Here is the list of the Best Online Life Insurance Companies for Students in the World available for you.
- Bestow
- Esurance
- Ethos
- Fabric
- Haven Life
- Ladder
- Policygenius
- Prudential
- Quotacy
- Sproutt
- SelectQuote
- Voya Financial
- Globe Life Insurance
- Banner Life Insurance
- Pacific Life
#1. Bestow
Bestow is an online life insurance company that offers a short-term and long-term plan option. It uses technology to simplify the paperwork for taking out life insurance.
They currently offer a term for 2 years, a term for 10 years, and a term for 20 years. If you’re looking for a short-term policy, you can’t beat it online.
They claim to offer a $500,000 policy for just $3 a month. Your maximum insured amount is $1,000,000.
#2. Esurance
Esurance is probably the best known for car insurance, but it also offers online life insurance. Just as it is known – Esurance makes it easy to get a life insurance quote online.
Unlike many companies on this list, Esurance offers a full range of life insurance products – temporary, full, universal.
However, for many of the more complex policies, you will need to speak to a life insurance agent to complete the process. Unfortunately, not everything is online.
#3. Ethos
Ethos is one of the original online life insurance policies. They were one of the first companies to use technology to simplify life insurance applications.
They were also one of the first online companies that didn’t need a medical exam for most guidelines.
Ethos offers a variety of life insurance policies ranging from 10 to 30 years. They also offer policies without a medical exam up to $ 1,000,000, and they offer larger policies when you get a medical exam.
#4. Fabric Life Insurance
Here is another online life insurance company (or life insurance technology company) that focuses on providing level life insurance without a medical exam, and other estate planning support such as wills.
They offer policies to individuals aged 25-60 with premiums starting at $6 per month. The value of policies is between $100,000 and $5,000,000.
They offer a term of 10 years, 15 years or 20 years.
#5. Haven Life
Haven Life is another one of the original online life insurance companies focused on offering high-quality life insurance at an affordable price.
Your application is slightly longer than others, but they offer extremely competitive prices for no life insurance without a medical exam.
They offer $3,000,000 life insurance for adults under the age of 59. When you’re 60 to 64 years old, you can determine if you qualify for $1,000,000 life insurance.
#6. Ladder
Ladder is one of the newer companies in the online risk life insurance sector and aims to simplify life insurance. They offer a fully online life insurance experience with a variety of life insurance options.
If you are between 20 and 60 years old, you can take out life insurance with Ladder. They offer policies between $100,000 and $8,000,000. This is one of the highest values that we see in online risk life insurance.
They also offer terms of 10 to 30 years.
#7. Policygenius
PolicyGenius is not directly a life insurance company. Rather, it is a marketplace/comparison tool that makes shopping for life insurance (and pretty much any other type of insurance) very easy.
It is one of the best tools available to compare life insurance. They can offer you, life insurance quotes from $500,000 to $10,000,000 and from 5 to 30 years.
However, for some of their policies, it’s not entirely online. Since they are a marketplace, they have some online life insurance companies and others that require more work. It’s great to compare and look around, so don’t let it go.
#8. Prudential
Prudential is one of the oldest life insurance companies on the market and offers a full range of all available insurance policies. However, not all are available online.
Your online risk life insurance is called SimplyTerm and is available to insurance coverage of up to $500,000. It will be available in 10, 20, or 30 years.
Compared to other online options in this list, this is the least flexible and lowest maximum policy available.
With Prudential, however, they want you to go beyond the online guidelines and speak to an agent who can offer you offers for the entire product range.
#9. Quotacy
Quotacy is another online term life insurance. It was one of the earliest tools that you could use to quickly compare life insurance options online.
It offers a full range of life insurance policies (beyond term) and has an excellent customer support team if you need help beyond the online form.
Although they compare other companies’ life insurance policies, everything is done directly with them.
#10. Sproutt
Sproutt is one of the latest in online life insurance. What makes Sproutt different is that they try to reward you with lower premiums through healthy activities.
By creating a healthy lifestyle score for you, you can save money on your life insurance. Getting a quote online is quick and easy. Look at these and see if you can save.
#11. SelectQuote
SelectQuote is a comparison platform for life insurance, meaning that they are not a direct provider. They are an independent agency that offers to report from many companies.
You can fill out a single application and receive offers from multiple providers. However, one of the biggest advantages is finding the right insurance company for all health problems.
Life insurance is not a standard in the industry. Some companies find applicants with diabetes, heart disease, a previous attack of cancer, or even cigarette smoking cheaper.
This can help you identify the companies most likely to approve your policy, at the lowest premium rate.
Since SelectQuote is a real insurance agency, live agents offer another benefit that can help you find the right policy that differs greatly from the online-only platforms that offer either limited product lines or very limited customer service.
One factor to consider is that SelectQuote only works with a dozen providers. Although it is one of the most popular online life insurance companies in the industry, they may not have the lowest prices or even the best policies for everyone.
#12. Voya Financial
Formerly ING Insurance, Voya Financial life insurance policies are actually sold through ReliaStar Life Insurance and Security Life of Denver, but they are all part of the same company.
One of the significant advantages of Voya is product selection. Unlike many online life insurance companies that mainly sell risk life insurance, Voya also offers universal life insurance and variable universal life insurance.
They are more expensive than term policies, but they may be preferable for certain people in certain situations. The company also offers a wide range of policy drivers to customize your policies.
The disadvantage is that Voya is a direct provider, so you only work with the programs offered. There is no way to buy your application from different companies.
However, Voya is one of the highest-rated companies in the insurance industry and offers a higher level of direct support. You can start the process online, but get as much help as you need to complete.
#13. Globe Life Insurance
Globe Life Insurance is well known for offering affordable life insurance policies. They famously advertise “$1 buy $50,000” or “$1 buys $20,000 for children”. Actually, a bit over the top, as $1 just gets the process going and acts as a bonus for the first month.
The actual premium you pay is more than $1, but you must credit them with a pending sales hook.
Globe Life is another source that is an online provider. The policies you buy are provided directly by the company. Globe offers both term and life, including life for children. They also offer death insurance, mortgage protection insurance, and even Medicare supplements.
The limitation with Globe is the size of their guidelines. It limits them to only $100,000 for adult temporary life insurance or $50,000 for entire life insurance.
It limits the guidelines for children to $20,000 and like many of the providers on this list; they prefer healthy applicants.
Banner Life Insurance is owned by Legal and General America but is also the owner of the William Penn Life Insurance Company, which operates policies in New York (Banner covers the other 49 states and the District of Columbia).
Besides risk life insurance, the company offers a complete life and a universal life. The term ranges from 10 years to 40 years. Life insurance policies are guaranteed acceptance guidelines.
They provide insurance coverage for people between the ages of 50 and 80 with death benefits of up to $15,000.
One of the primary advantages is that they accept guidelines for higher-risk applicants, e.g. smokers and asthmatics. The company is known for its flexible underwriting, especially if you only have one illness.
They also consider if you have looked after your health in the past. This can include regular exercise participation, annual review, and routine preventive medical testing.
#15. Pacific Life
Pacific Life is a unique insurance company that offers a variety of interesting insurance structures. Besides its standard terms and permanent insurance policies, Pacific Life also offers an indexed life insurance option that enables exchange-linked growth in death benefit payments.
This can save you money with your policy – and leave a nest egg for your children or grandchildren.
Pacific Life is also one of the cheapest life insurers for smokers. While smokers looking for a policy at Transamerica may pay up to $50 a month to cover them, tobacco consumers’ plans are available from Pacific Life for just $17 a month.
If you’re not ready or able to cancel, Pacific Life may have the key to affordable insurance.
Who Should Shop for Life Insurance Online?
If you are a millennium or younger than 50 years old, are relatively healthy, and know exactly what you need from an insurance perspective, it makes sense to shop online for life insurance.
For 99% of people, term life insurance is better than any other life insurance alternative.
So, if you already know what you need and what you should qualify for, it makes sense to search online for the lowest premium for the amount you need.
There’s no reason to argue with an agent (who may not want to work with you because of the low-risk insurance commissions).
Term Life Insurance and Whole Life Insurance
You find that almost all these companies on the list only offer life insurance. The reason for this is that Term Insurance pricing and benefits are straightforward.
Whole Life, on the other hand, is expensive and chaotic. It’s messy with the benefits offered, the cash value, the premiums, and much more. It is therefore incredibly difficult to streamline the online offer process.
But even more so, most people should stick to term life insurance. There are very few reasons when a whole life policy makes sense.
Can I get denied an Online Life Insurance?
It is very possible to get denied Life Insurance Online. However, If you are denied online life insurance, contact a life insurance agent to guide the underwriting process and provide you with the best possible life insurance rate.
Most online life insurance companies are technology companies – they use technology to create their policies, and if you don’t fall within their pre-defined criteria, they’ll reject you.
This does not mean that you are not insurable, it just means that your situation is likely to be more complex than that of others and better suited to working with a life insurance agent.
If you wish to build a career in the insurance industry, then click the link to explore
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Online Life Insurance Companies for Students – FAQs
A term life policy allows you to purchase coverage at a guaranteed premium for a limited amount of time.
This structure makes term life an affordable choice to protect your family if you have a financial commitment that won’t last forever, like a mortgage or the cost of raising kids.
A 20-year term life insurance policy is the most popular life insurance policy purchased to protect loved ones if the unexpected happens.
Term life insurance is the cheapest option for most people, so that’s a good starting point when looking for the most affordable policy.
Regardless of the type you buy, compare companies to make sure you’re choosing the one that’s best for your particular health details and financial situation.
Whole life. Whole life insurance is the most basic type of permanent insurance. …
Universal life insurance. “Universal life insurance is a blend between whole life and term. …
Variable life insurance.
Conclusion
Shopping for Life Insurance for Students can be daunting. However, the above list summarizes the best online life insurance companies for students to take advantage of.
Remember, getting a quote is free. And with most of these companies, you can get a quote in less than 15 minutes.
So, spend an afternoon browsing, getting multiple offers, and knowing that you are getting the best possible premiums for your life insurance needs.
To get the most out of online life insurance companies, apply to those who exactly match your personal situation. The industry is highly specialized.
For instance, if you are in excellent health and need coverage quickly and at a cheap price, contact Haven, Ladder, Bestow or Fabric.
If you suffer from an illness, you may be better able to apply through online brokers such as SelectQuote or Policygenius. If you are looking for a cover for children, Globe Life is one of the leading providers in this category. Choose the online provider that is best for you.
References
- thecollegeinvestor.com › Insurance › Life › Life Insurance Companies
- www.benzinga.com › money › cheap-life-insurance
- wallethacks.com › best-online-life-insurance-companies
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