January 18, 2020

Quotacy Review

Read more about Life Insurance
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Quotacy lets you get multiple life insurance quotes online in one place. It doesn't cost any money to use, but is it legit? Read this review for the pros and cons.

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What Is Quotacy?

Quotacy is the online version of an insurance brokerage. Their agents shop and negotiate rates, so you comparison shop without pressure from a traditional insurance agent.

You can get quotes in a few minutes without sharing your contact information. If you choose to apply for coverage, Quotacy's agents will review your application and contact you if they find a better match.

Quotacy started in 2014 and operates under Hallett Financial Group. They partner with the country's leading insurance companies boasting an AM Best rating of A- or better.

What Quotacy Offers

Quotacy matches you with term life insurance providers. This type of coverage protects you financially for a specified term.

Since they offer quotes from many insurance companies, you'll find the largest selection of terms and rates available.

Quotacy's partners offer:

  • Terms from 10 to 40 years
  • Insurance amounts from $50,000 to $65 million
  • Coverage for ages 18 to 80 years old
  • A variety of riders including child, premium waiver for disability, accelerated death, accidental death, and term conversion

You can choose an initial term and coverage amount when completing Quotacy's short questionnaire. But feel free to customize and change your options later.

Other types of insurance available with Quotacy
Quotacy's specialty is term life insurance, but they do offer other options, including whole life and disability insurance. You won't find anything on the website for these choices, though. Instead, call their customer service line to speak with an agent who can help you with the process.

The Application Process

Quotacy's application process only takes a few minutes. Keep reading to learn the five steps.

  1. Introductory Questions
    You'll start with four basic questions:
    • Zip code
    • Gender
    • Birthdate
    • Are you a smoker?

  2. Coverage and Term
    Next, choose your coverage amount and term to see your average premium price.

    After you make your selections, click Compare Prices and you'll answer a few more questions:

    • Height and weight
    • The type of tobacco user you are
    • Do you take blood pressure or cholesterol medication?
    • Family history of cancer, heart disease, or diabetes

    You can also adjust the slider for higher or lower coverage.

  3. Review the Insurance Offers
    You'll see policy options from multiple companies. Click on Ratings and Info beneath each company name to see the details for each offer. Use this information to decide which company you like.

  4. Enter Personal Information
    Once you choose an offer, you'll enter more personal information. The process takes an additional five minutes and includes questions about:
    • Health
    • Lifestyle
    • Contact information

  5. Speak with a Quotacy Agent
    A Quotacy agent will then contact you to guide you through the process or provide more options.

    Once you get in contact with a specific insurance company, you'll need to complete a phone screen. Some companies also require a medical exam.

Reasons We Like Quotacy

Get Multiple Quotes with One Application
Quotacy makes it easy to find the best deal on life insurance without spending hours doing your own research.

No Sharing Personal Information Until You Are Ready
Complete the Quotacy questionnaire as many times as you want and take your time reviewing your options. Your personal information is only required when you choose a quote and want to move forward.

Life Insurance Calculator
The Quotacy life insurance calculator helps you see the recommended amount of life insurance. Just answer questions about your:

  • Income
  • Debts
  • Years of coverage needed
  • Investments
  • Future expenses (college, burial, etc.)

Free Educational Content
Quotacy makes life insurance less overwhelming with a large amount of free content on their website. Learn about:

  • Different types of insurance
  • How to handle pre-existing conditions
  • Terminology
  • Steps to take

Easy to Use
The steps you need to take to get your quotes are clear and easy. Once you choose a policy, an agent calls you and walks you through the rest of the process. There is no fee to use the service and the agents aren't commissioned, so there's no sales pressure.

Your Information Isn't for Sale
All information provided stays with Quotacy until you choose a company for your policy. Quotacy then shares your information only with the chosen company.

Agents Advocate for You
Once you choose a policy, Quotacy walks you through completing the process. If you have questions, concerns, or are unhappy with the results from the chosen insurance company, Quotacy agents help you through it. You can talk, text, online chat, or email an agent.

Includes Your Estate Planner or Financial Advisor
Just let Quotacy know that you are working with a financial professional and they will work together with that person.

Downsides

Can't Apply Online for Whole Life or Disability Insurance
If you want something more complex than term life insurance, you'll have to call Quotacy. The process won't be as streamlined and you'll get fewer quotes.

Quotes Only from Select Insurance Companies
They provide quotes from up to 15 of the most financially stable insurance companies today. But you may still miss a few. If you want to get quotes from companies not provided by Quotacy, you'll have to go directly through that company or another broker.

How It Compares

PolicyGenius
Another insurance aggregator website, PolicyGenius offers insurance quotes for:

  • Life
  • Health
  • Disability
  • Renters
  • Homeowners
  • Auto
  • Pet insurance

Complete a questionnaire online and PolicyGenius provides offers. They also help you with the application process.

PolicyGenius may offer quotes from insurance companies with less than perfect financial backgrounds. You may need to do your own research before accepting a policy.

Ladder
Ladder offers term life insurance through their partner, Fidelity Security Life Insurance Company. You complete the entire application process online and, if accepted, start your coverage right away.

Ladder offers the opportunity to ladder your insurance by increasing or decreasing coverage without canceling your existing policy. They offer policies ranging from $10,000 to $1 million, and you may not need a medical exam.

LifeQuotes.com
Life Quotes provides insurance quotes from up to 50 insurance companies. You can complete the process online or call their customer service line for help.

Once you choose a quote and apply, a Life Quotes agent will walk you through the process. They have an A+ rating with the Better Business Bureau and offer a variety of policy options, including no-medical exam options.

Bottom Line

Quotacy removes the stress and hassle of shopping for life insurance. Without the pressure of an insurance agent trying to upsell you, it's easy to compare policies.

They also let you change your mind on coverage amounts or terms after applying. If you don't have the time to shop around with individual insurance companies, Quotacy is the next best thing to find personalized offers.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

More from CreditDonkey:


Term Life Insurance


Term vs Whole Life Insurance


How Much Life Insurance Do I Need


Life Insurance

Life Insurance for Children

Life insurance isn't just for adults. But is life insurance for kids a good idea? Can you use it as a college fund? Read on for the pros and cons of life insurance for children.

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Policy Genius

Policygenius cuts through the jargon that makes shopping for insurance so confusing. You'll get clear options with transparent costs upfront. Read this review to learn how Policygenius makes buying insurance easy.

About CreditDonkey®
CreditDonkey is a life insurance comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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