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Quotacy Life Insurance Review


ConsumersAdvocate.org Rating: 9 / 5 ()
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Quotacy is an online life insurance brokerage company, headquartered in Minneapolis, Minnesota. The company was launched in 2014 under parent company Hallett Financial Group.

Quotacy’s purpose is saving families, one life insurance policy at a time. Their goal is to provide an easier shopping experience without any added sales pressure. They also offer tools and resources to help you choose the right amount of life insurance coverage.

You can get free instant and accurate life insurance quotes and compare policies without sharing your contact information. After you apply for a policy, Quotacy’s experts check other top-rated life insurance companies to make sure you’re getting the best price. If a better option is available, they will go over the details and help you decide.
 
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How Do We Rate Quotacy?

Breakdown

4.5/5
Company Stability
4.5/5
Reputation
4.7/5
Policies & Coverage

Our Overall Rating: 4.5 / 5 (Excellent)

Quotacy is an excellent choice for those interested in purchasing life insurance for a variety of reasons. First, the company maintains partnerships with some of the nation’s most trusted life insurance providers including AIG, Lincoln Financial Group, John Hancock, and Prudential, among others. Additionally, the company's agents are salaried employees who do not work off commission, so you can be assured they have no personal financial interest in selling you more costly policies you might not necessarily need. Quotacy also employs its own in-house underwriters who have expert experience with all the top life insurance firms. This enables the company to also target those who may have been turned down for life insurance previously because of a medical condition or lifestyle choice. The company's team of underwriters can help these individuals navigate the variety of qualification requirements specific to the different providers to help them get coverage.

Overall 2

Quotacy’s automated life insurance quote comparison platform makes it easier for customers to find the right provider that matches their needs and budget. Its "Life Insurance Needs Calculator" is also a helpful tool for showing how much term life insurance a consumer should purchase. The company’s website also offers informational tools such as articles, Q+A videos, podcasts, and FAQs to help customers make smart decisions when purchasing life insurance products.

Financial Strength

Key Details

Standard & Poor's Financial Rating
AA-
Moody's Financial Rating
A1
AM Best Financial Rating
A+

Company Stability - 4.5 / 5

Quotacy is operated by Minneapolis-based Hallett Financial Group. Just like Quotacy itself, Hallett is BBB accredited and has an A+ rating. Quotacy connects customers with several of the top rated life insurance carriers in the industry. Some of these firms, like John Hancock, Nationwide, and Pacific Life, among others, have long histories and excellent reputations for creditworthiness and claims paying ability.

Reputation & Customer Experience

Company Reputation

Quotacy is partnered with most of the top-rated insurance companies in the USA and are licensed in all 50 states. Their team has helped insure everyone from the very healthiest to those facing great medical challenges. They are proven experts in the realm of life insurance.

Quotacy is completely transparent and features reviews of the insurance companies they work with on their website including ratings, such as AM Best and BBB. Quotacy only works with insurance companies that are rated A or better. Quotacy themselves have an A+ BBB rating.

Customer Ratings

Trust Pilot Rating
9.8 out of 5
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Neutral Reviews
0
Number of BBB Negative Reviews
1
Date Collected
2018-11-02

Reputation - 4.5 / 5

As mentioned before, Quotacy is accredited by the BBB, and has been rated A+ by the organization, with only 1 complaint in the last three years, which appears to have been resolved. The company also has an overwhelming number of positive reviews on Trustpilot, with a score of 9.8 out of 10, which is excellent, especially for a company of its size.

Quotacy’s website is pretty straightforward and easy to navigate, and customers can get a free quote within seconds. Additionally, the company offers customer support via chat, text, phone, email, and through social media.

Quotacy Policies

Quotacy offers customers the following life insurance policies: Term, Whole Life, Guaranteed Acceptance/ Final Expense, Guaranteed Universal Life.

Policies & Coverage - 4.7 / 5

Quotacy is a life insurance broker and has access to multiple insurance companies and their products. Policies vary from one company to another, so we encourage customers to research each recommended policy before purchasing. Additionally, customers can contact Quotacy agents for more information, and to obtain personalized quotes suited to their needs.

Quotacy offers both term and permanent types of life insurance, but believes term life insurance is the best option for most families. Quotacy has affordable term life insurance policies available to individuals between the ages of 18 and 80. Term length options range from 10 to 40 years, depending on your age. Term coverage options start at $50,000 and go beyond $65 million. Quotacy also works with insurance companies who offer term life insurance without a medical exam to qualified individuals.

DO NOT USE - Quotacy Policies 1

Whole Life Insurance
 • Lifelong Coverage
• Fixed Premiums
• Accumulates Cash Value
• Dividend Paying (for participating policies)

Guaranteed Universal Life Insurance
 • Lifelong Coverage
• Guaranteed Death Benefit Payout
• Can Decrease Coverage if Needed
• Return of Premium (for some policies)

Guaranteed Issue “Final Expense” Life Insurance
 • No Medical Exam or Questionnaires Required
• Guaranteed Acceptance
• Fixed Premiums

DO NOT USE - Quotacy Policies 2

Accidental Death and Dismemberment Insurance
 • No Medical Exam Required
• Easy to Qualify
• Coverage Up to $350,000
Individual Disability Insurance
• Replaces Paycheck if Disabled
• Tax-free Monthly Benefits

Quotacy has also partnered with LegacyShield to offer free subscriptions to LegacyShield’s secure online storage platform—normally an annual cost of $85.

Flexibility and Available Riders

Available Term Life Riders

  • Child Protection Rider
  • Accidental Death Benefit Rider
  • Waiver of Premium Rider
  • Disability Income Rider
  • Guaranteed Insurability Rider
  • Critical Illness Rider
  • Long-Term Care Rider
  • Term Conversion Rider
  • Unemployment Protection Rider
  • Return Premium Rider
  • Terminal, Chronic, and Critical illness Accelerated Benefit Riders

Available Carriers

AIG, AXA, Banner Life, Haven Life, John Hancock, Lincoln Financial, Minnesota Life, Pacific Life, Principal, Protective, Prudential, SBLI, Mutual of Omaha, among others.

Flexibility & Available Riders - 4 / 5

Additional Company Information

Homepage URL
https://www.quotacy.com/
Company Phone
(844) 786-8229
Headquarters Address
505 Highway 169 North, Suite 560, Minneapolis, MN, 55441
Year Founded
2014

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Top Rated
Our Partner
  • No medical exams for policies under $3 Million. Just answer a few health questions online
  • Coverage starts at around $30/mo
  • Get a quote in seconds with no obligation; apply in minutes (most instantly approved)
  • No need to talk to an agent unless you want to
  • Rated “Excellent" by customers on Trustpilot
  • Limited-time offer for new policyholders - access to estate planning tools at no extra cost ($449 value)
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