Insurance rates comparison site LifeInsuranceAgency.com has now launched a new iPhone application called LifeValue.

The LifeValue application is meant to help people find the value of their life, financially speaking of course. The application calculates how much life insurance a consumer really needs, negating the need for a consultation with an agent.

"IPhone applications are a fantastic platform to provide consumers with easy-to-use tools like the LifeValue application, which helps people answer complex questions like how much life insurance coverage does the consumer need," said Furkat Kasimov, vice president of Internet marketing at Itsol Inc., North Hollywood, CA.  

?The strategy is to provide a free, easy-to-use application that consumers will benefit from,? he said.

LifeInsuranceAgency.com is an online resource and one-stop shop for life insurance quotes.

Itsol Inc., the technology partner on the project, is a privately-owned California-based corporation that specializes in aggregation and distribution of real-time Internet leads.

By inputting information based on the user?s lifestyle and circumstances, the LifeValue application will generate an estimation of how much the user should be spending on life insurance.

In addition to determining the amount of life insurance the user needs, the LifeValue application claims to be an unbiased source for life insurance quotes.

With the application from LifeInsuranceAgency.com, users will not have to waste time with the long process of browsing different Web sites and filling out forms or calling individual life insurance companies one at a time.

Instead, users are asked to input all of their lifestyle and circumstantial information once and then sit back, and wait for the quotes to come to them.

The LifeValue application calculates how much insurance a user needs and offers quotes from up to three insurance agencies instantly.

The application also has a bonus feature, which finds quotes for other types of insurance such as annuities, auto, health, business, renters, cancer, burial, home, long-term care and disability insurance.

The LifeValue application is available for download in the Apple App Store for free.

?Everyone will have a mobile phone one day,? Mr. Kasimov said. ?We will see less land lines. More people will use mobile phones to access the internet than use a desktop or laptop.

"Mobile devices are likely to replace many other gadgets that people use," he said.