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Quotesmith.com Forms Strategic Alliance With John Hancock To Market Low Cost Term Life Insurance On The Internet

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 2/11/1998


Quotesmith.com Forms Strategic Alliance With John Hancock To Market Low Cost Term Life Insurance On The Internet
DARIEN, Illinois (February 11, 1998) -- Quotesmith.com has today announced the formation of an Internet marketing alliance with John Hancock Variable Life Insurance Company (A.M. Best "A++") which brings several new low cost term life insurance policies to market via Quotesmith's popular insurance Web site www.quotesmith.com.

Commenting on the strategic alliance, Quotesmith.com President Robert Bland remarked, "This agreement makes Hancock's new low cost term life policies efficiently available to the 30 million Americans who now use the World Wide Web on a regular basis and is proof-positive of the value and efficiency of the Internet as a distribution system for lower-priced term life insurance. In the staid world of insurance, John Hancock has taken a bold, pioneering first-move here by bringing these new policies to market on the Internet."

Kathy Graveline, senior vice president of John Hancock, remarked, "By making our new term life rates available on Quotesmith, not only do we reach a larger audience, we reach our target audience -- those insurance buyers who are self-directed and prefer to do their own research and purchase directly from Hancock at their convenience. Our alliance with Quotesmith, an industry leader, shows our continued commitment to meeting the needs of all types of consumers and our commitment to electronic commerce."

Instant quotes on the new John Hancock policies are available at www.quotesmith.com for residents of many states effective immediately.

Bland continued, "It's an honor for Quotesmith.com to have been chosen by John Hancock to market their brand new term life policies at our insurance Web site which now provides instant, real-time quotes from over 300 leading insurance companies. The pro-consumer alliance between Quotesmith.com and John Hancock represents a groundbreaking public affirmation of the future of electronic insurance commerce by one of America's largest and well-respected insurance companies. John Hancock is a member of that rarefied group of only 44 life & health insurance companies to hold the coveted rating of A++ "Superior" by A.M. Best Company (rating affirmed 8/25/97)."

In a press release dated February 11, 1998, John Hancock announced the availability of its new term life policies which provide guaranteed level death benefits and guaranteed level premium rates for 30, 25, 20, 15 and 10 years. John Hancock also announced that its new term life policies will offer consumers the ability to pay premiums on a monthly basis without incurring any additional fees or service charges and/or to pay premiums by credit card where available

Quotesmith.com has established itself as the Web's leading provider of insurance information through the advanced technology of its proprietary, continually-updated insurance pricing databases. Quotesmith provides a free insurance price comparison service for consumers and operates a no-frills, online insurance agency facility on the Internet which caters to the needs of self-directed individuals who prefer to make their own insurance buying decisions without the involvement of face-to-face insurance salesmen.

Founded in 1984, Quotesmith currently provides instant quotes and policy information from over 300 leading insurance companies and allows visitors to request applications online. Quotesmith is currently providing instant quotes on several lines of insurance including term life insurance, final expense whole life insurance, fixed annuities and medicare supplement insurance. Quotesmith guarantees that its Web site will show the lowest term life premiums available in America or pay a $500 cash reward to anyone who can show a lower premium.

On January 1998 Quotesmith.com was named "Unquestionably the number one rating service on the Internet, by a very wide margin" by FBO Newsletter, a Raleigh, North Carolina publication.

Within the last four years, the Quotesmith.com insurance price comparison service has been mentioned in Money, Forbes, The Wall Street Journal, The Web, Kiplinger's Personal Finance, Fortune, Investor's Business Daily, Good Housekeeping, SmartMoney, Home Office Computing, Profit, Nation's Business, Independent Business, Bottom Line, Worth Magazine, Entrepreneur and Consumers Digest.

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This communication appears as a matter of information only and is not an insurance solicitation. Accordingly, no employee of Quotesmith.com, Inc. is recommending or endorsing any specific insurance company, coverage or policy type within this communication. Some insurance companies appear at Quotesmith.com for purely informational purposes only and pay no compensation to Quotesmith.com and some insurers pay commissions to Quotesmith.com based upon premium volume. Quotesmith.com is a service mark of Quotesmith.com, Inc. All other names are trademarks of their respective owners. South Dakota agent #333509159, California agent #0827712, #OA13858. CA & UT dba Quotesmith.com Insurance Services. UT #90093. Copyright 1999. All rights reserverd. Quotesmith.com, Inc. John Hancock products sold through John Hancock Variable Life Insurance Company, Boston, MA 02117, not licensed in New York. Products not available in all states.


Contact:
Robert Bland
President
(630) 515-0170, ext. 201

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