Life Insurance Basics

We Shop A Wide Variety of Life Insurance Companies

Instant Term Life Insurance Quotes

We've been helping people find term life insurance in Colorado at no extra cost for a long time. We know that you will have a lot of questions about the different term life insurance policies, that is why we think it is best to talk to us about what questions and pre-existing conditions you have first, so we can help you find the best term life insurance for your needs. This interactive website is to allow you a no pressure setting to get term life insurance options that are available to you. After we help you find the best life insurance policy to fit your needs, Insurance Shoppers allows you to apply online in the comfort and convenience of your home or office with our assistance over the phone or email (if you like). If you have already submitted an application for life insurance, you can check on the status of your application by visiting our Colorado Life Insurance Application Status Page. Or, feel free to call or email us whenever you need to.

How Do We Help You?

Almost all life insurance companies in Colorado sell their products through agents, rather than directly to the public. Some companies use "captive" agents, who can only represent one company. The most competitive term life insurance providers (such as those featured at this site) use independent agents, who are free to represent several companies. These agents can help you select from a variety of products and companies in Colorado to tailor a plan based on what you need.

The premium rate is set by the company, and it cannot be changed by the agent. The price you pay for a given product will be the same no matter where you buy it. "Price shopping" for a Colorado life insurance agent will provide little benefit, assuming that you have the basic product and pricing information to know what to ask for. We shop a large number of companies, view the life insurance companies we shop, based on price, coverage, how they will underwrite you, stability, etc. So, we are more likely to find the best coverage at the lowest price than other term insurance agents in Colorado. There is no disadvantage and there are many advantages to using a knowledgeable broker to guide you in the right direction, so don't hesitate to have us help you find the best plan for your needs.

Want a Precise Quote? Fill out our Life Insurance Pre-screen Form and we can find out which company works best for you. For example, some Colorado life insurance companies don't count cigar or chewing tobacco as a tobacco rate, some companies will still give pilots a preferred rating, all companies have different standards for cholesterol, blood pressure, etc. Having us do an underwriting pre-screen will save you a lot of time and frustration.

Colorado Life Insurance Made Simple

Life insurance carriers in Colorado offer a variety of choices to meet the individual financial needs for every situation. The three most common types of Policies are term life insurance, whole life insurance, and universal life insurance. A term life policy pays out its face value only if you die during the selected term. Normally, if you have not used the death benefit when the term runs out, the policy expires. However, return of premium policies are becoming very popular as an alternative to typical term life insurance and even whole life and universal life policies. Building cash value with a permanent policy means paying high premiums (2 to 3 times as much for the same coverage). While an unused term policy can feel like a waste. Return of Premium (ROP) Term is an elegant and effective new solution that splits the problem up the middle. It starts out like Term Life Insurance with one extra promise from the carrier: If you pay your premiums and you live, we’ll give you your money back. On a normal 20 year Level Term Life Insurance policy the ROP benefit may cost about 30% more, but that extra premium will effectively earn you a 6-7% return over the 20 years, guaranteed -– just enough to earn you back everything you’ve paid in. What’s in it for the insurance carrier? Your loyalty. Life insurance companies spend a lot of money to get your business, and only start making a profit if you stick around more than five years or so. ROP guarantees that lots of customers stay for the full term. And, for those that don’t, the carrier made an extra 30% on those guys -– and used some of it to pay you a solid return on your money for sticking around and living. So if you know that you are going to be insured for the entire term, then think about paying a little more for the ROP benefit and getting it all back in the end. We would be happy to give you the price of a term life policy and compare it with the same amount of ROP term and do the math to see if ROP term would be a good investment.

A whole life insurance policy pays out its death benefit whenever you die. In the early years of a whole life plan, the premiums are much higher than the customer would pay with a term life insurance plan. These up-front overpayments are what keep the later payments reasonable. Otherwise, as you grow older, your premiums would need to increase substantially to keep up with the risk of insuring you. Level Premium Whole Life policies require premiums to be paid your whole life. Limited-pay whole life policies require higher payments for only a few years.

A universal life insurance policy is more flexible and less expensive than a whole life insurance plan, but the guarantees are lower on the interest rates. Premiums may be increased or decreased by the policyholder within policy limits in order to change the policy as needs change. The amount of insurance may be increased, subject to evidence of insurability, or decreased subject to minimums set by each insurance company. Loans can be taken from the policy once is has gained a cash value, but can reduce the cash surrender value and death benefit. Withdrawals may also be made but can also reduce the cash surrender value and death benefit.

Find Out How Much Life Insurance You Need

We analyze a customers life insurance needs using either an income replacement method, or a needs fulfillment method, or both. We also combine this with a clients individual budget for life insurance to determine what type, and how much life insurance the client needs. The income replacement method of a needs analysis is to find out how much life insurance is needed if the purpose is to replace the income that your family will need to survive. The needs fulfillment method determines how much life insurance is needed to cover future family needs like paying off debts and mortgages, saving for college, etc. Use our Colorado life insurance calculator to quickly analyze your life insurance needs.

Our Location

Insurance Shoppers is a local Broomfield, Colorado based brokerage with an established reputation for helping customers find the best term life insurance and communicate with the company after they buy the policy. Because we are independent brokers based in Colorado, we have the opportunity to meet clients' needs without having to pay attention to in-house incentives, sales contests, or pressure to sell proprietary products. Our clients' best interests are our only priorities. We want to have term life insurance clients for life and will do everything we can to provide them with exceptional service.

Continued Customer Service

Insurance Shoppers has extensive experience in the term life insurance industry. We continue to be there for our customers after their term life insurance policy is in force. We help with benefit questions, advise clients on how to go about a claims process should they need to, and we have a good working relationship with the Colorado Division of Insurance.

Contact Us

Please feel free to contact us at (720)352-7561 in the Denver Metro and Boulder area, or Toll Free (866)747-7913 anywhere else in Colorado. We will be happy to meet you at your home or work, answer your questions by email or over the phone. Or, if you know what you are doing and what type of life insurance quote you want, we make it easy to compare plans, get details on the policies and even apply online. You want a term life insurance policy to put your mind at rest that an unexpected event won't put your family members with a financial problem. We want you to find the best policy without any hassle or pressure.