COMPARING LIFE INSURANCE RATES FROM OTHER COMPANIES
If you are doing rate comparisons with other companies, when you look at other companies, please be sure to ask them to provide you with their Standard rates. Most companies only offer initial quotes using “Preferred” (or Select) pricing which assumes that you have better-than-average health and family health history. The fine print on their quotes states that they can’t confirm that rate for you until after you have submitted an application and undergone a physical exam. Their sales approach is to offer you the best rates, and hope that you will accept their more-expensive Standard rates if you don’t qualify for their Preferred rates.
We prefer to show you both our Standard rates and our Select rates, so you know the range of possible rates. If you choose to go forward with Erie policies, we will ensure that your application is for the best rates that Erie offers. To be quite honest, we always prefer to get you a better rate than initially offered, instead of trying to explain why you didn’t get the rate that we initially quoted.
Bill Martino, CLU, ChFC, CASL
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