Big Lou Life Insurance: Legit Or Scam?

Big Lou Life Insurance is a life insurance company headquartered in Fort Walton Beach, Florida. The company provides various insurance products, including universal life insurance, whole life insurance, and term life insurance. Big Lou claims to offer competitive rates, even for individuals with challenging health concerns. However, there are mixed reviews about the company's services, with some customers expressing dissatisfaction and alleging scam practices by certain agents.

Big Lou Life Insurance's business profile

Big Lou Life Insurance is a life insurance company based in Fort Walton Beach, Florida. The company offers a range of life insurance products, including universal life insurance, whole life insurance, and group life insurance. Big Lou Life Insurance aims to provide the best possible rates, even for individuals with challenging health concerns. The company is not BBB Accredited and has received mixed reviews from customers.

The company's physical address is 348 Miracle Strip Pkwy SW STE 3A, Fort Walton Beach, FL 32548-5253. It is owned by Mr. Chad Hill, with Ms. Laurie Guzman serving as the Director of Business Development.

Big Lou Life Insurance has received some negative feedback, with one customer review describing the company as a "big scam". The reviewer mentioned issues with pushy sales tactics, misleading information, and a lack of concern for the customer's best interests. However, it is important to note that this review may not be representative of everyone's experience with the company.

Big Lou Life Insurance has an online presence through its website, bigloulife.com, where it provides information about its life insurance offerings. The company also likely utilizes various marketing and sales strategies to reach potential customers, although the effectiveness and legitimacy of these strategies are unclear.

While the company has a physical location, it is always advisable to conduct thorough research and compare multiple options before making any decisions regarding life insurance. Understanding the terms, conditions, and limitations of any insurance policy is essential to making an informed choice.

Customer reviews of Big Lou Life Insurance

Another review on the BBB website, which has since been taken down, mentioned issues with the company's customer service and lack of professionalism. The reviewer stated that they had a similar experience with an agent who was pushy and tried to sell them unnecessary policies.

Yelp users have not asked any questions or left any reviews for Term Provider The Home of Big Lou, the physical location of Big Lou Life Insurance in Fort Walton Beach, Florida. However, the business has an average rating of 2.3 stars on Yelp, indicating that customers may have had less-than-positive experiences.

Overall, based on the limited number of customer reviews available, Big Lou Life Insurance does not appear to be a legitimate or reputable company. Potential customers should exercise caution and do their own research before doing business with this company.

Big Lou Life Insurance's rating

Big Lou Life Insurance is a brand name used in advertising, created by TermProvider in 2011. The company is based in Fort Walton Beach, Florida, and has one location. Big Lou aims to simplify the process of obtaining life insurance, particularly for those with health issues, by educating clients and finding the best rates. They do not use sales scripts and aim to build an honest relationship with clients to secure the right policy at the right price.

Big Lou Life Insurance is not accredited by the Better Business Bureau (BBB). The BBB website features two customer reviews, both negative, resulting in an average rating of 2 stars. One review describes the company as a "big scam", citing issues with an agent who was pushy, dishonest, and uninterested in the customer's best interests. The other review is blank, with no text provided.

Despite the company's assertion that they are different from the average life insurance agent, these negative reviews suggest that Big Lou Life Insurance may not be entirely legitimate or trustworthy. Potential customers should proceed with caution and conduct thorough research before engaging with this company.

It is always advisable to get multiple quotes and understand all the options available before making such an important decision as purchasing life insurance.

Types of insurance offered by Big Lou

Big Lou is a brand name used in advertising by TermProvider, a life insurance agency. The character of Big Lou was created in 2011 to be relatable to TermProvider's target audience of people with pre-existing health conditions. Big Lou is portrayed as needing life insurance himself and having a few health issues, such as being overweight and having diabetes.

Big Lou offers a range of life insurance options to cater to different needs. Here is a detailed overview of the types of insurance offered by Big Lou:

Term Life Insurance

Term life insurance is typically the most affordable option among the types offered by Big Lou. This type of policy provides coverage for a specific period, usually set for 10, 20, or 30 years. It is ideal for those who need coverage for a certain number of years, such as during the term of a mortgage or while dependents are still young.

Universal Life Insurance

Universal life insurance offers a guaranteed premium and death benefit for the policyholder's life. It also includes a cash value component that the insured can access during their lifetime. This type of policy provides flexibility, as it allows the policyholder to make use of the cash value or even adjust their premiums or coverage over time.

Whole Life Insurance

Whole life insurance offers lifelong protection and guarantees a payout upon the policyholder's death. Unlike term life insurance, whole life insurance has no set term. Policyholders can choose between participating and non-participating policies. Participating policies earn dividends throughout the policy's duration, while non-participating policies do not.

Group Life Insurance

Big Lou also offers group life insurance plans that can provide coverage for a specific group, such as employees of a company or members of an organization. Group life insurance plans typically offer a cost-effective way to provide life insurance benefits to a number of individuals.

Big Lou's mission is to simplify the process of obtaining life insurance, especially for those with health issues. They aim to educate their clients and provide transparent and accurate quotes without any sales pressure.

Big Lou's process for getting the best rates

Here's how they do it:

• No Sales Scripts or Pressure: Big Lou doesn't employ traditional sales tactics. They don't rush their clients through a sales process aimed at getting their money quickly. Instead, they take the time to get to know their clients and ask relevant questions to understand their needs.
• Straightforward and Honest Communication: Big Lou communicates directly and honestly with their clients and expects the same in return. They recognise that even individuals who consider themselves healthy can benefit from their expertise in navigating the intricacies of life insurance.
• Understanding Health Profiles: Big Lou acknowledges that insurance companies use advanced technology to access a wealth of information about an individual's health profile, including doctor's records, lab results, prescription history, and more. They use this understanding to help position their clients' health profiles in the best possible light to insurance underwriters.
• Finding the Right Insurance Company: Big Lou specialises in matching clients with the insurance company that best fits their specific health profile. Each insurance company has a different rating manual and niche areas where they excel. Big Lou's expertise lies in identifying these niches and leveraging them to get the best rates for their clients.
• The "Ratings Ladder": Big Lou explains the concept of the "Ratings Ladder," which insurance underwriters use to assess risk and determine pricing. This ladder has 12 rungs, with rung 1 being the least expensive and rung 12 the most. Big Lou's goal is to help the underwriter find as many credits in the client's health profile to get them placed on the lowest rung possible.
• Niche Considerations: Big Lou understands that different insurance companies have different niche areas. For example, some companies may be more favourable for individuals with weight issues, diabetes, or other specific health concerns. They use this knowledge to advocate for their clients effectively.
• No Obligation and No Cost: Big Lou offers a no-obligation, no-cost policy. They don't charge their clients for their services and aim to provide honest guidance throughout the process.

By following these steps and leveraging their knowledge of the industry, Big Lou strives to get the best possible rates for their clients, even those with challenging health concerns.

Frequently asked questions