Disclaimer: We are not affiliated with Insure.com or Quinstreet Inc. We are not compensated in any way by these companies. We are an independent life insurance agency offering an unbiased review about using Insure.com for your life insurance quotes. This does NOT apply to any auto, health, or home insurance.
Insure.com is an excellent resource to learn about life insurance. We absolutely love it for its educational content written in a clear and easy format to digest.
But be careful...
You DO NOT want to actually get your life insurance quotes on that website. In just a few quick minutes we'll explain exactly why including:
- The history of the company
- How Insure.com makes money
- Why their partnerships and business model mean BAD news if you want the cheapest rates
- Case studies and examples of running life quotes
- What the website is good for
- Other options to find the best and most affordable life insurance
Founded in 1984 before the Internet was even really a thing, Insure.com was originally known as the Quotesmith Corporation. With hundreds of informative articles written by experts, they became a leading resource to educate consumers about health, auto, life, and home insurance.
We offer a vast library of originally authored insurance articles and decision-making tools that are not available from any other single source. Insure.com is committed to providing the most comprehensive and useful insurance information experience on the Internet.
In 2009, QuinStreet Inc purchased the website for $16 million. Over time, they've added a number of other lead generating sites to their portfolio that all do pretty much the same thing - generate leads which are sold to their partners. QuinStreet is a massive digital marketing company headquartered in California. It was started in 1999 by Doug Valenti and now has annual revenues of $300 million per year.
They are great at what they do, which is marketing, but NOT a life insurance agency or company. They do not sell life insurance. They do not want to sell life insurance. They have never been in the life insurance business.
Customer Feedback and Ratings
Insure.com itself is not a Better Business Bureau accredited company but parent company QuinStreet is and has an A+ rating.
There a number of complaints from consumers who have used the site. These complaints mainly come from people who didn't understand how the site operates. This happens when they submit their information. In defense of the company, their policies are stated pretty clearly.
We'll get into this next about how it all really works...
How They Make Their Money
Insure.com regularly puts out high quality, informative information on lots of insurance topics. They are good at this. Combine it with their millions of dollars in marketing strength and their articles appear very high in thousands of different searches for insurance related topics and questions in Google and the search engines. Their traffic from searches is easily well over 100,000 visitors each month.
Now they got you on the site.
You read the article you came for and are curious to run some quotes. They offer a quoting tool to "Compare Rates". (That is NOT actually true but more on that later)
You are asked to input your information which is sent to the insurance companies they partner with. These companies have paid advertising dollars to appear on the site or they purchase the lead. Then they start calling to sell you. For the generation of this lead, the website receives a kickback. The more people that submit their info, the more money they make.
Let's be clear:
There is nothing wrong with this revenue model. It's completely legal and they disclose this is how they do business. It's just not a good place to do your life insurance rate shopping if you want to save money.
Why You Will NOT Get the Cheapest Rates Here
Because they are playing favorites with the life insurance companies that are paying them for preferential treatment. This is not a secret or an attempt to slander Insure.com. It's the truth and they admit it!
This is from their footer at the bottom of every page on Insure.com:
Disclaimer: The insurance products on Insure.com are from companies from which QuinStreet may receive compensation. Compensation may impact where products appear on Insure.com (including the order in which they appear). QuinStreet does not include all insurance companies or all types of products available in the marketplace.
and here is a screenshot if you needed further proof:
Why This is a Problem For Life Insurance Shoppers
- True comparison shopping should have access to 50+ life insurance carriers and compare prices fairly and accurately, without bias and reward for advertising dollars.
- Life insurance is not "one size fits all". Quotes are a starting place. The only way to get the best and most affordable coverage is by shopping yourself to multiple companies who gauge your unique situation and medical history.
Running Quotes - Proof and Examples
When you run through the quoting tool, you'll answer some questions about how much coverage you need, length of term, age, weight, tobacco use, and medical conditions. This will lead consumers to believe it's doing some magic filtering and suggesting the best company for your personal needs.
Is that true? Let's take a look:
Case Study #1
Location: Philadelphia, PA
Height/Weight: 5'9 - 165 lbs
Major Medical Conditions: No
Death Benefit and Term Length: $250,000 for 20 years
Insure.com suggests AIG insurance company for this person and profile. You can't view any actual quotes and must wait for their salesperson to contact you. But why AIG? Yes, It is a well-known and very good company. However, at the time of this exercise, we know of 2 other carriers that offer lower premiums for the exact same profile. I guess they don't pay to have their quotes displayed.
Case Study #2
Location: Dallas, TX
Height/Weight: 6'1 - 205 lbs
Major Medical Conditions: Stroke, Diabetes, and Cancer
Death Benefit and Term Length: $500,000 for 10 years
They have chosen AIG again. This is a person that is considered very "high risk" due to the multiple serious medical concerns. This will be a tough case to get approved and will require inside knowledge and relationships with underwriters at different companies. It is just not possible from this form submission for them to tell you AIG is the right pick. If this person wants life insurance, they need to contact an independent broker that represents many more companies than only AIG.
Additional Case Studies and Scenarios
Almost no matter what we put in their quoter the result was the same.
We love AIG as a strong company and will place clients with them when applicable. But they aren't the best fit for every single person and situation. It just isn't true. After submitting your personal information, Insure.com will display a few more companies but you still can't compare quotes.
You have to go to each individual website and go through their process afterward. Some of the companies listed are strong ones, others like Globe Life should be approached with caution. In the end, you'll now have 5-10 different sales people calling you. Yet still no clue about where you should actually be applying or what other companies are out there that could be perfect.
What Insure.com is Good For
It's a great resource to learn the basics about life insurance. They have put together some detailed yet easy to understand articles on topics such as how term life insurance works. They also offer a nifty life insurance calculator to estimate how much coverage you need.
The best part of their site may be the customer surveys they do on life insurance companies. The staff and budget of a large marketing company allow them to conduct these nationwide questionnaires on how happy/unhappy consumers are once they are already policy holders. Unfortunately, they only do 15 life insurance companies (there are many, many more) but it's still a very nice resource.
Our review of the Insure.com website concludes the following:
Use Insure.com as an educational resource when you are just beginning your research. We do NOT suggest using it to obtain life insurance quotes.
When you are ready, you can compare quotes side-by-side from over 50 different carriers in one place, with just a few clicks. This can be done with the quoting engine on the side of the page or at this link.
We actually work in life insurance so it's our business to know everything there is. Please only use the quotes as a starting point. The reality is that once you speak with us, it's very possible we may suggest another option that you weren't aware of but is a better fit. This will be done after learning more about you.
Life insurance rates are fixed by law for a reason. There are no savings going directly to the billion dollar companies. Please take the opportunity to have someone working and fighting for you. It doesn't cost any extra.