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Quotesmith.com Releases Top Ten Term Life Companies For October

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 11/1/1999


Quotesmith.com Releases Top Ten Term Life Companies For October

 

DARIEN, Ill., Nov. 1 /PRNewswire/ -- Quotesmith.com, Inc. (Nasdaq: QUOT), the Internet-based service that enables consumers in every state to save money on insurance by obtaining instant quotes from over 300 leading companies, announced today the top-ten most popular term life companies requested through the Quotesmith.com insurance price comparison service in October.

First Colony Life Insurance Company has retained its number one most requested honors for October followed by John Hancock Variable Life, Banner Life, Midland Life and West Coast Life.

                                 Quotesmith.com, Inc.
Most Popular Term Life Companies

October September
Ranking Ranking

First Colony Life 1 1
John Hancock Variable Life 2 2
Banner Life 3 3
Midland Life 4 4
West Coast Life 5 6
First Penn-Pacific Life 6 5
Transamerica Occidental Life 7 7
American Mayflower Life of NY 8 8
Protective Life 9 9
Valley Forge Life 10 10

"These ten term life insurance companies continue to dominate on a shopper's choice basis at Quotesmith.com. On Jan. 1 most states will adopt a new life insurance regulation known as 'Guideline XXX'. According to some industry observers, Guideline XXX, when enacted by each state, may have the effect of causing higher premium rates or fewer rate guarantee choices, or both. While Guideline XXX will not affect any life insurance already in place, policies purchased before Jan. 1 will be locked in and frozen. Clearly these top ten insurers are providing great values for insurance shoppers," said Robert Bland, Chairman and CEO of Quotesmith.com.

The list reflects October and September consumer requests for individual term life coverage through the Quotesmith.com insurance price comparison service on a national basis.

About Quotesmith.com

Quotesmith.com is the Internet-based insurance price comparison service that allows consumers to save money by obtaining instant quotes from over 300 leading insurance companies. Founded in 1984 as Quotesmith Corporation, Quotesmith.com owns and operates the largest and most comprehensive insurance price comparison service in America. The Company provides up-to-the-day accurate quotes, including vital educational and reference information, for several lines of insurance including auto, motorcycle, life, individual & family comprehensive medical, short term medical, group medical, dental, Medicare supplement and annuities. The Company's Web site allows insurance shoppers to instantly navigate the insurance market with confidence and clarity.

In addition to providing the widest selection of instant insurance quotes available from any single source, the Quotesmith.com site also allows visitors to purchase insurance from the company of their choice without having to deal with a commissioned salesperson. Quotesmith.com provides complete quote-to-policy-delivery customer service through the use of insurance-experienced, in-house, salaried representatives.

Now available to residents of all 50 states, the Quotesmith.com insurance information service also provides useful reference tools and educational material to assist insurance shoppers. A typical Quotesmith.com quote comes complete with two full pages of policy coverage and reference information, including published underwriting guidelines, in order to take consumer education to the max. Another unique feature is that every Quotesmith.com term life quote also shows the latest independent ratings from A.M. Best, Duff & Phelps, Moody's, Standard & Poor's and Weiss Ratings, Inc.

Quotesmith.com is committed to providing the most comprehensive and useful insurance information experience on the Internet. The Company electronically collects consumer demand for coverage and can rapidly communicate such demand directly with insurance companies in an efficient manner. The Quotesmith.com service empowers insurance buyers with near-perfect market information which is instant, easy to use, up-to-the-day accurate and not available from any other single source.

As detailed at www.quotesmith.com, the Company offers visitors two unique guarantees: View the lowest term life premiums in America or receive a $500 cash reward plus every quote is guaranteed accurate or receive a $500 cash reward. The Company's average daily quote volume has been growing rapidly recently. During peak times the Company often processes one quote request every four seconds.

Quotesmith.com completed a $63 million initial public offering in August 1999. The Company's shares trade on the Nasdaq Exchange under the symbol "QUOT". Intuit Inc. owns approximately 7 percent of the outstanding stock of Quotesmith.com, Inc.

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, "may," "will," "believes," "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 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 is included in the company's final prospectus dated August 3, 1999, as filed with the United States Securities and Exchange Commission.

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 or fees to Quotesmith.com based upon premium volume or traffic activity produced by Quotesmith.com. Quote availability by state of residence or any other factor is subject to change without notice. $500 lowest price cash reward not available for residents of South Dakota.

Quotesmith.com is a service mark of Quotesmith.com, Inc. All other names are trademarks of their respective owners. Published by South Dakota agent #333509159, California agent #0827712, #OA13858, UT #90093. CA & UT dba Quotesmith.com Insurance Services.

SOURCE Quotesmith.com, Inc.

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