Zander Insurance claims to be an independent life insurance brokerage like us. They have a wonderful name in the industry. Dave Ramsey, a big financial guru, always and only recommends Zander Insurance to his clients and listeners.Dave Ramsey has a pitch to buy term and invest the difference. While I like the idea of investing and insurance, I do not believe every situation is black and white just like I don’t think Zander Insurance is in your best interest. It is easy to go for a site that offers convenience, but a legitimate independent broker is an intermediary between you, the customer, and fifty plus companies. Zander Life Insurance makes their assertions of service and price, and then to prove that they are the most competitive, their site offers an online term life insurance quote engine. You punch in some basic information about yourself, and, presto, there appears the “most competitive” quote you can find in the market place. As with any “engine,” you better search “under the hood” to see if you are really getting what you need. We offer several different company reviews such as Banner Review, Primerica Reviews, New York Life Review and AARP Review for you to look over before making your final decision on you life insurance coverage. We can also help you with more specific needs such as finding the best company with a no medical exam life insurance policy, no matter the need, just ask!
Are they really a broker?
Zander Insurance calls themselves a broker. They claim “unparalleled commitment to service, the best products on the market, and a principled commitment to debt free strategies”, so it is easy to think that they really offer the very best rates. However, it’s interesting that others have tried their quick quote engine which, in certain cases, only produces around 7 insurance carriers, all of whom are known in the industry to pay higher than usual commissions to agencies. If you don’t believe this, then try it yourself. You probably won’t find quotes from companies like AXA Equitable, Prudential, or Met Life. This being the case, then you the customer are not getting the absolute very best service. Every dollar saved by you, the client, can then be placed into your own financial savings plan.
Zander is not a smokers best friend
There is another category of customer that should not assume they are getting the best service. These are smokers. It is true that smoking is on the decline in the USA for obvious health and financial reasons, yet there are still people who do smoke and want life insurance. A quick trial of Zander’s engine reveals that they do not have the market’s absolute best rates because the best carrier for smokers is a company that pays lower commissions. Learn more about getting the best rates for smokers HERE.
Is Jeff Zander actually going to speak with you?
When you call into the number are you actually speaking with Jeff Zander or are you speaking with a call center representative who has a quota to hit and treats you like a number? When you call a call center are you actually getting the best possible service and guaranteed lowest prices? Life insurance is a major purchase and one that should not be left to chance. Make sure you are not a number when you are shopping for the best rates on life insurance.
A Paid Advertiser on the Dave Ramsey Show
While most of Ramsey’s advice about saving money and paying off debt is wonderful, sound suggestions you have to wonder about a potential agenda by the radio host regarding his “clients.” Dave Ramsey’s show is a syndicated radio show with paid advertisers, Zander Insurance being one of if not the largest. Rumors have always swirled regarding how many millions are spent each year to remain “Dave’s suggestion” as to where you should go to buy life insurance. The morale of the story is to shop around and make sure the broker you are dealing with has your best interest.
Shop before you buy
So despite these issues, at least the customer is given a chance to get some market information about term life insurance. Throughout life there are major financial obligations, and term life insurance is the best policy to address the concerns of the client. Term policies provide a financial cushion if a life changing event occurs. As we grow older, our responsibilities change, and there is no reason to be locked into paying for larger financial contract because the major your financial obligations have changed and are the need to replace your income is much smaller. Term life policies are set for a defined time frame, and will only pay if the policy holder dies when the policy is in effect.
The features related to cash policies are different. They provide a financial cushion, but are more permanent in nature (lasting the life of the insured or until they are 100 years old). They also accumulate savings (also called a cash value) but are the residual benefit to the insurance carrier when the policyholder dies. Many financial advisers believe that the cash values is not a real benefit since insurance should be for financial protection if an event occurs, and not a savings account.
Why is this information important?
From a consumer perspective, we tend to look down upon the life insurance industry. We don’t like dealing with agents, we don’t like talking about life insurance, and, to top it off, when companies, agents, brokers and financial pundits misinform the public it the makes hard working honest people in the insurance business look bad. I try my best to always do what’s in your best interest first and never my own. While Zander is not out and out recommending bad policies they are not giving their clients the benefit of all the information that would allow someone to make the best decision for their needs. This is why I cannot recommend that anyone use this company for life insurance quotes. When you start out with only a select few life insurance companies you are starting out with a bad foundation for helping a client.