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Quotesmith.com Now Offers Life Insurance Online Without a Medical Exam

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 3/14/2002


Quotesmith.com Now Offers Life Insurance Online Without a Medical Exam

  • End-to-end solution delivers a new era of convenience, speed and privacy
  • Participating A+ rated insurers make it fast and easy to shop for life insurance online
  • New technology enables seamless transition from instant quotes to online applications

DARIEN, IL (March 14, 2002) -- Shopping for life insurance online has just taken a big step forward. In an industry-leading advance, Quotesmith.com (NASDAQ: QUOT), the online insurance broker that provides instant auto, life, health, dental, travel and disability insurance quotes from more than 300 companies, today announced the immediate availability of a suite of life insurance plans that can be purchased online without a medical exam.

Ushering in a new era of speed and convenience for life insurance buyers, Quotesmith.com enumerated several benefits of these new plans for life insurance shoppers:

  • Instant, apply-online capability
  • No medical exams
  • No long forms
  • Quotes from insurance companies rated A+
  • Competitive rates
  • 30-Day money back guarantee on all policies

"This is truly great news for all life insurance buyers," said Quotesmith.com chairman and CEO, Robert Bland. "We believe that we've hit a home run here in bringing these plans to market at our Web site for the convenience of our customers. The fact that every quoting company in this section of our site is rated A+ by A.M. Best Company adds an extra measure of safety for our customers."

 

Instant quotes for these life insurance plans are now immediately available at www.quotesmith.com.

Expanded Content Strategy for Information-Hungry Insurance Shoppers

Quotesmith.com now offers, by a very wide margin, the broadest comparative insurance content experience available on the Internet. For customers, this huge selection can translate into maximum savings on every insurance purchase not to mention an entirely new way to buy insurance. The company, through its own and outsourced technology, now offers: instant auto insurance quotes from up to 12 companies, instant term life insurance quotes from 91 insurers; instant individual and family health insurance quotes from 89 insurers (including a broad range of traditional, PPO, HMO and Blue Cross and Blue Shield plans for individuals and families); instant long-term care quotes from 11 insurers; instant dental quotes from 41 insurers; instant small group medical quotes from 26 insurers; instant Medicare supplement quotes from 29 insurers; instant annuity quotes from 25 insurers and instant travel insurance quotes from 31 different leading plans.

About Quotesmith.com

Founded in 1984, Quotesmith.com owns and operates two comprehensive online consumer insurance information services, www.insure.com and www.quotesmith.com. Catering to self-directed insurance shoppers, Quotesmith.com provides a comprehensive array of comparative auto, life and health quotes, combined with news, information and decision-making tools that are not available from any other single source. Visitors to the company's Web sites are able to obtain instant quotes from more than 300 leading insurers, achieve maximum savings and have the freedom to buy from any company shown. Quotesmith.com generates revenues from the receipt of commissions, fees, content licensing and advertising revenues paid by participating insurers. Quotesmith.com also provides personalized insurance brokerage and policy placement services for its customers. Shares of Quotesmith.com trade on the Nasdaq SmallCap Market under the symbol "QUOT."

Cautions about Forward-Looking Statements

This announcement may contain forward-looking statements that involve risks, assumptions and uncertainties pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. This announcement also contains forward-looking statements about events and circumstances that have not yet occurred and may not occur. Expressions of future goals and similar expressions including, without limitation, "intend," "may," "plans," "will," "believe," "should," "could," "hope," "expects," "expected," "does not currently expect," "anticipates," "predicts," "potential" and "forecast," reflecting something other than historical fact, are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Investors should be aware that actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. Reported Web site activity and/or quotes are not necessarily indicative of any present or future revenue. The Company will not necessarily update the information in this press release if any forward-looking statement later turns out to be inaccurate. Potential risks and uncertainties include, among others, Quotesmith.com's ability to successfully launch and realize revenues from new products and services, potential business risks associated with generating revenues from the insure.com platform, limited e-commerce operating history, anticipated losses, unpredictability of future revenues, potential fluctuations in quarterly operating results, seasonality, consumer trends, competition, risks of system interruption, the evolving nature of its business model, the increasingly competitive online commerce environment, dependence on continuing growth of online commerce and risks associated with capacity constraints and the management of growth. More information about potential factors that could affect the company's financial results are included in the company's Annual Report on Form 10-K for the year ended December 31, 2000, and the Company's Quarterly Reports on Form 10-Q for the periods ended March 31, 2001, June 30, 2001 and September 30, 2001 which are on file with the United States Securities and Exchange Commission. All policies contain specific insuring agreements, exclusions and conditions. No employee of Quotesmith.com is making any endorsement or recommendation in this communication regarding any particular coverage or insurance company. Some insurance companies appear at Quotesmith.com for purely informational purposes only and pay no compensation to Quotesmith.com and some insurers pay commissions or fees to Quotesmith.com based upon premium volume or traffic activity produced by Quotesmith.com. Quote availability by state or any other factor is subject to change without notice. Quotesmith.com, insure.com, LTCompare and QuotesmithPro are service marks of Quotesmith.com, Inc. All other names are trademarks of their respective owners. Copyright 2002. All rights reserved. Quotesmith.com, Inc.

SOURCE Quotesmith.com, Inc.

 

CONTACT: William Thoms, Executive Vice President, (630) 515-0170, ext. 202, wthoms@quotesmith.com

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