Welcome to Quotacy’s Q&A Friday where we answer your life insurance questions. Quotacy is an online life insurance broker where you can get life insurance on your terms. I’m Jeanna and I’m Natasha Today’s question is: can I get a deal on my life insurance by bundling with my home and auto insurance company? Bundling services and products to get a discount is very popular. It makes sense to assume that you would get a good deal on life insurance if you bundle it with your other insurance products but this isn’t necessarily true. If you get term life insurance quotes from your home or auto insurance company you most likely won’t be getting the best rate. Bundling your life insurance with your other insurance policies may be the only time bundling could cost you money. Multi-policy discounts are not false advertising. If you have homeowners insurance with Insurance Company XYZ and they say you can save money also buying life insurance from them you will save money on your homeowners insurance but they legally cannot discount your life insurance premiums. The life insurance industry is highly regulated. If you get term life insurance quotes from Insurance Company XYZ these quotes will be the same even if you get them from your local agent or broker, whether you have another policy through Company XYZ or not. So now you may be thinking “Well, okay, my life insurance premiums aren’t discounted but at least my homeowners insurance rate is.” You may save some money in the short term, however, while your term life insurance premiums are fixed and won’t change your home and auto rates are not. Of course insurance companies want your business and it’s a very competitive industry which is why they offer multi-policy discounts. They are hoping that you’ll stay loyal even if your home and auto premiums increase because shopping around for a new insurance company isn’t fun. Going with your home or auto insurance company for your term life insurance policy without shopping around first may cost you money in the long run. Not all life insurance companies evaluate applicants in the same way. There is likely an insurance company out there who will give you better term life insurance quotes than your home or auto insurance company. A term life insurance policy can last up to 40 years and this premium is fixed so you want to get the best price possible. Shopping around is how you do this. We realize that shopping around for a term life insurance policy doesn’t seem like much fun. And it can be time-consuming. This is when a life insurance broker is beneficial. Quotacy is a life insurance broker. When you apply for life insurance through us we do the hard behind-the-scenes work for you. Quotacy works with multiple life insurance companies. When you run a term quote on our website you’ll see many different company choices. If you aren’t sure which to go with we typically just advise you to go with the least expensive option since your Quotacy agent will double-check that the company you chose will end up offering you the best possible price. After reviewing your application submission, if your Quotacy agent notices that you listed a health or a lifestyle factor that may influence your policy’s price they’ll shop your case. They do this by sending out an anonymous summary of your application to the insurance companies we work with to ask what risk class they would approve you as. Once your agent gets all the results back from the companies they will provide you with your best pricing options. Thanks for watching. If you have any questions about life insurance make sure to leave us a comment. And if you have any questions regarding today’s topic check out the blog link posted below. And if you’re ready to get quotes, check out Quotacy.com. We’re here to help you find the best deal on the life insurance you want. Bye! Thanks for sticking around. We’d appreciate it if you Liked the video and hit that fancy little Subscribe button to see us every week. Bye!