Updated January 2020.
Independent life insurance agencies or brokers are advantageous because they allow shoppers to find and compare life insurance premiums on similar policies from different companies. This feature simplifies the shopping process because clients do not have to work with multiple companies to learn about their coverage options.
Policygenius and Quotacy both offer online quotes for life insurance policies. While the two companies are similar, here are a few differences:
Scope of Offerings
Policygenius offers term and whole life insurance policies. Beyond life insurance, it offers disability, renters, pet, auto, homeowners, health, vision, long-term care, jewelry, identity theft, and travel insurance. Individuals can also compare prescription discount cards through Policygenius. This scope of insurance offerings is advantageous for individuals looking for a one-stop-shop for all their insurance needs.
Business owners can also use Policygenius to find insurance policies to offer their employees. While specific details about how businesses can use Policygenius are difficult to find online, business owners can benefit from the Policygenius platform to find quality insurance products and good rates to offer their employees.
Quotacy was founded by life insurance experts with industry knowledge and experience. Through Quotacy, individuals can purchase term life insurance, whole life insurance, and disability insurance. While the scope of insurance offerings isn’t as large as those from Policygenius, Quotacy has a high level of industry-specific expertise.
Quotacy also offers its clients a complimentary LegacyShield account with a life insurance purchase. The LegacyShield account can be used to securely store legal and financial documents, like a life insurance policy, will, 401(k), bank account, and social media logins. The account also allows you to record life stories for family and friends or record your wishes for funeral or life celebration arrangements. Access to a LegacyShield account is a nice perk of working with Quotacy.
Both Quotacy and Policygenius work with trusted life insurance companies with high financial stability rankings. This ensures that the products customers purchase through their company are high-quality and reliable.
Policygenius is a good option for people looking for a one-stop-shop for their insurance needs. It’s also a great resource for business owners looking to find good insurance deals for their employee benefits package.
Quotacy brings a lot of life insurance industry experience and expertise. If you’re only looking for a life insurance or disability insurance policy, Quotacy is an excellent choice.
Staff and Client Services
Both Quotacy and Policygenius have licensed life insurance agents available to answer your questions and help you through the quote and application process. Assistance is available through live chat, email, and phone. Quotacy will also communicate via text if that’s what a client prefers.
Quotacy does not upsell its clients to a different kind of life insurance policy. Instead, the Quotacy team focuses on finding the best company match for the client's desired coverage while considering the underwriting process.
Once you purchase a life insurance policy through Quotacy, its team is still available to help you. If you want to make changes or have questions, you don’t have to reach out directly to your life insurance carrier. Quotacy will do that for you.
The assistance available to clients throughout the quote and application process is high at Quotacy and Policygenius. Quotacy goes further and offers complete service to its clients. Its services don’t end once you purchase a life insurance policy. This level of service makes it convenient for clients to make changes and ask questions without having to find a new contact at their insurance carrier.
Before Policygenius offers a life insurance quote, it completes the underwriting process. The underwriting process is how life insurance companies determine the insurability of an applicant and determines the monthly premium. Underwriting typically includes a medical questionnaire and can include a medical exam in some cases.
Policygenius offers online quotes and requires health information before showing life insurance quotes. In more complex cases, Policygenius will have one of its licensed insurance agents supply a custom quote.
Policygenius also works closely with life insurance companies to ensure that the life insurance rates listed on its website are up-to-date. This approach helps ensure that quotes are accurate. Around 80 percent of policies purchased through Policygenius are within $10 of the online quote. The high level of accuracy is especially nice for life insurance shoppers because the value and the cost of the life insurance policy are clear early in the process.
Working through Quotacy, website visitors can get a quick premium estimate for term life insurance policies by providing information about their zip code, age, and gender. After this number is shown, visitors have the option to fill out additional health information to get a more accurate and personalized quote. It’s convenient to see the estimate sooner, rather than filling out a health history form.
If you’re interested in whole life insurance or disability insurance, the process requires a phone conversation. These policies can be more complex, so this difference is understandable.
Both Policygenius and Quotacy do not require site visitors to provide contact information before displaying term life insurance quotes. This feature makes both companies great for potential clients because it means that you won’t have to deal with unwanted sales calls before you’re ready to buy a term life insurance policy. This feature also makes it easy to compare life insurance quotes from multiple life insurance carriers.
If you’re just interested in looking at quotes online and don’t have a specific kind of life insurance policy in mind, Policygenius is a good resource. If you already know what policy you want, either agency is good to work with.
Both Quotacy’s and Policygenius’s online quote processes naturally lead into an application. You do not have to fill out the same forms twice. Once you see the available policies and the quotes, you can pick one and apply through the company.
Policygenius does not sell its clients information as leads to life insurance companies. This is nice for consumers because no one enjoys getting sales phone calls that they didn’t sign up for. Policygenius representatives follow up directly with people who submitted an application on their site.
After applying, Quotacy’s life insurance underwriters will look at your application and work with life insurance companies directly to find the best fit for what you want and your situation. Throughout this process, Quotacy agents keep your information anonymous from companies until you decide to buy life insurance.
Everyone has different health circumstances and life needs. Some companies are better in some situations than others. For example, diabetes affects life insurance premium rates. Some life insurance carriers have better rates for diabetic people.
Quotacy’s holistic approach of finding the best fit for the client without upselling another policy means that clients are better able to find good value in their life insurance policy, not just a good deal.
Both companies take care of their clients information. Policygenius and Quotacy work with their clients directly after the application is submitted instead of selling the information to other companies as leads.
Quotacy is also great because after clients purchase a policy, its agents still help clients make changes to their policy and answer questions.
Both Policygenius and Quotacy offer online quotes for term life insurance without requiring contact information, which makes life insurance comparison convenient and hassle-free.
Both companies respect their clients information and do not sell it to life insurance companies for lead generation. Whether you use Quotacy or Policygenius, you can trust that you'll only receive calls from Quotacy or Policygenius.
Policygenius offers clients a lot of convenience. It’s a great resource for comparing insurance quotes from multiple companies for many different kinds of insurance. If you're also looking for other insurance quotes, like health, jewelry, or long-term care insurance, Policygenius offers quotes on more than life insurance coverage. Policygenius is also a great tool for business owners to use. Its quotes are highly accurate as well.
Quotacy’s sole focus is life insurance. Clients can receive quotes for term and whole life insurance. They can also find long-term disability insurance quotes. It keeps its clients information anonymous as it works with life insurance carriers to find the best fit and best rate for a client’s situation.
Quotacy agents also continue to offer customer support to clients after they have purchased a life policy. If a client wants to make changes or has questions, Quotacy agents will answer questions and help make changes.
Quotacy also offers its clients a free LegacyShield account that they can use to store legal and financial documents so that they are easy for their beneficiaries, family members, and friends to locate.
While both companies are great options for buying life insurance, Quotacy brings a higher level of industry knowledge and takes good care of its clients by offering a LegacyShield account and helping clients even after they have purchased a policy.