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These days doing it yourself and buying it online has become second nature for many of us. I speak from experience when I say that I tend to be a little less trusting if someone wants to sell me something. I am one of those that would rather spend hours researching and purchasing something online instead of taking the chance of talking to a salesman who might pressure me; although more often than not, by the time I’m half-way through doing the research I am too tired to buy it (not always a bad thing). But I have found, there are some products that, in general, are best purchased face to face, or at least person to person. Insurance, particularly individual health insurance, is one of them.

For that reason, I found it very interesting when I came upon the results of a study of 1003 persons having purchased individual medical (IM) insurance within the last 2 years. The study was commissioned by Assurant Health and conducted in May/June 2009 by the Chicago firm of Beall Research & Training, Inc. In short, the study found that 62% of those purchasing IM insurance did so through an agent and the majority of those purchasing through an agent were significantly happier with their shopping and purchasing experiences and their outcomes than those who purchased online.

In addition purchasing through an agent seems be a big time-saver. According to the study:

  • more than 75% of consumers who shopped through or purchased insurance through an agent talked to the agent for less than an hour before deciding what to buy,
  • of those who shopped and purchased online, only 36% spent an hour or less online, while 28% spent more than four hours, and
  • 31% of those shopping online described the experience as timeconsuming.

Whatever method you prefer to purchase insurance, the most important thing is that you DO purchase it. Even if you never have to use it, you still benefit from a certain degree of peace of mind, …something that is a little more difficult to find these days.

For free information about financial products such as life, health, disability, long term care, and retirement products, visit getfinancialadvice.com or for questions or referrals regarding insurance agents or products leave a comment or email support@getfiancialadvice.com.

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