Big news in consumer life insurance

It’s funny how life works sometimes. Earlier today I put put out a blog post on the topic of business networking vs. paid referral services that said “…my primary source of revenue over the entire span of my working career as an independent accountant has been paid reviews or endorsements of some type…I do not do paid product reviews or endorsements any more but that doesn’t mean that I’m closed to the option if demand resumes for that service.”

Then at 4:46 a call came in from a well respected insurance marketing executive with news about a breakthrough product that he invite me to review and endorse. If it works out as I suspect, I will be paid for pushing traffic and referring individuals to their call center.

It probably seems geeky to most, but I’m excited by news that high quality and fairly priced term life insurance will be available quickly and easily to consumers by telephone without insurance agents, without signing paper applications, without physical exams or lab tests. In other words, the industry finally figured out how to offer a product that consumers really want without all the gimmicks of products pitched by late nite TV personalities. The industry has recovered from the mistakes in the early years of online marketing and is poised to get it right this time. Firm up your financial planning separately and away from any product pitch, make a phone call, have a half million dollars life insurance issued in 20 minutes. It will be no more difficult than getting auto insurance or homeowners insurance, and a lot less expensive. That’s the way life insurance should have evolved decades ago!

The technology advances alone are impressive. The actuarial advancement is even more significant. It is clearly a good day for the consumer finance field.

I’m sure I’ll have more to say soon after completing a product due diligence review within the next week.


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