Where To Buy The Cheapest And Best Term Life Insurance In 2022?

By Sa El Published:

You know you need life insurance but there are several ways that you can get it and figuring out the best way to buy life insurance can get confusing because of the different options.

But here’s the thing:

where to buy term life insurance

There is really only one way you should be buying life insurance in 2022 because any other option is going to take up too much of your time.

In this post today, I will go over all of the ways that you can buy life insurance and then explain why buying no exam term life insurance online is the best and why.

Where Can You Buy Term Life Insurance?

There are about 5 different ways you can buy life insurance, and I list them below: 

100% Online

Purchasing life insurance online is one of the newest ways that you can purchase life insurance.

You get to shop and buy life insurance the same way we do everything else like shopping on Amazon.

This type of life insurance is sometimes known as simplified issue life insurance or no exam life insurance, and you get to buy direct and fast.

There is no option faster than buying direct term life insurance online.

Don't believe me, try out our quote tool below; it doesn't require any personal information for you to see quotes.

No Personal Info Needed - Get Quotes Instantly

The final insurance policy premium for any policy is determined by the underwriting insurance company following the application.

Through An Agent (In Person)

When people buy life insurance, the first thing they usually think about is finding an agent to help them obtain coverage.

They also hate the idea of having to go over stuff with an agent and the back and forth.

The process usually goes like this, you reach out to an agent, and they will set up a time to come out to your home and visit you.

Once they are at your home, they go over a few products and quotes with you and attempt to help you complete the application and get the application process started.

After a few weeks, you will probably hear back from them about your policy if you have been approved or not.

It is probably the process that takes the longest for you to get life insurance.

From Your Bank

You might find it odd to find out that people buy life insurance from their bank, but studies have shown that more people are buying from their banks that we once thought.  

The only issue is that most banks only offer one product and usually don’t sell much life insurance directly.

You will find yourself buying coverage that you might not understand, and if you go sit down with a banker, they probably only offer a set product at a fixed price.

Buying from a bank might not get you the best product or rate for you and your family.

From An Agent ( Over The Phone)

This is the area that I specialized in, selling life insurance over the phone.  

I did this for over 10 years and did a great job helping customers understand insurance products and chasing them down to buy.

As an independent agent, I offered several products but also was commission based, so even though I am helping my customers, I still needed sales to live.

This would mean that until you say “Sa El, stop calling me” I would probably keep calling until we got you covered.

Of course, some people loved me, and others just outright cursed me out for calling too much.

Independent agents will be able to get you rates from multiple companies and can send you an e-app to get the application process started.

This is going to be the second fastest way to get life insurance.

Through Your Job

Your job is usually only going to give you 1X(times) your annual income in life insurance.

So if you make $50,000 per year, you will get a life insurance policy for $50,000, sometimes it will be free, sometimes it will cost.

However, I don’t recommend having any life insurance from your job as your primary form of life insurance.

This is because if you leave that job you will lose your coverage and it usually is nowhere near enough coverage for your family.

If you make $50,000 per year, you should at the least have $500,000 in life insurance.

THE SIMPLY INSURANCE WAY

Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

So, Where is the Best Place To Buy Life Insurance?

I am going to say hands down, the best place to buy life insurance is online, and here is why:

Buy At Your Own Speed

When it comes to buying anything the worst feeling to have is buyers remorse, this usually comes from being rushed into a buying decision.

where can i get term life insurance

When you purchase online, you get to buy the policy that works best for you when you are ready.

But keep in mind, while you do get to buy at your own pace, it doesn't mean that you should procrastinate to the point of never getting coverage.

Get Immediate Coverage

The best thing about buying online is that you can get approved instantly for coverage and pay for your policy in under 5 minutes.

You get to avoid that usual 75 day waiting period that comes with purchasing life insurance the traditional way.

There is no faster option when it comes to buying life insurance.

No Medical Exam

The one thing that has been stopping people from enjoying the life insurance buying process is having to complete a medical exam.

Buying online gets you the ability to bypass the medical exam, and you don't have to schedule a time with an examiner.

Bypassing the exam cuts down your waiting period substantially.

This benefit alone really trumps the other options.

INSURANCE WHERE YOU LIVE

Life insurance by state.

Avoid Tons of Agent Phone Calls

If you submit your personal information when trying to get life insurance quotes, you are probably going to get called from over 100 agents.

Trust me, I used to be one of those agents calling you until you told me to stop.

I have an entire article about how to get life insurance quotes with no phone calls from agents.

Go direct and buy online to avoid all of these calls.

Reviews Are Online

The best thing about shopping for life insurance online is that you can check out reviews about each company.

These reviews will go into details about the insurance company as well as the products that they offer. 

You can also find personal reviews from people who have purchased to see how their buying experience went as well as how the company does with their customer service.

It Doesn't Cost More

Life insurance rates are controlled by the state that you live in.

It won't cost you more money if you buy from an agent or go direct with an insurance company.

So, if you are in a situation where you need to speak with an agent, you don't have to worry about paying them for anything.

What Is The Best Company To Buy From?

While there are some excellent no exam term life insurance companies to choose from, we haven't found any better than Bestow, Fabric, and Haven.

Check out our quick overview of them below:

bestow logo

Available For Ages:

18 to 60 Years Old

Coverage Amounts:

$50,000 to $1,500,000

20 Year $250,000 Quote:
$17.50/month

Check out our Bestow life review

haven life logo large

Available For Ages:

18 to 65 Years Old

Coverage Amounts:

$50,000 to $3,000,000

20 Year $250,000 Quote:

$18.90/month

Check out our Haven life review

fabric life new logo

Available For Ages:

21 to 60 Years Old

Coverage Amounts:

$100,000 to $1,000,000

20 Year $250,000 Quote:

$20.39/month

Check out our Fabric life review

Taking Action

Now that you know where to buy term life insurance, you shouldn’t waste another minute procrastinating.

You can get quick quotes and buy your insurance online and fast by clicking here, or on any of the above buttons or by using our quoter.

It’s great that you know you need life insurance, now it’s time to get to it.


Sa El

About the author

Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 13 years of experience in the industry.  He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.


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