Finding the right life insurance agent may be best facilitated by utilizing several steps that distinguish, discern and assess the various aspects of life insurance that are important. For example, life insurance credibility, benefits, products and process are all factors that can add value to a life insurance policy. This article will discuss some the variables that life insurance shoppers may consider when finding a life insurance agent. Specifically, the following items will be discussed:
• Life insurance company
• Financial goals
• Helpfulness and capability of the Insurance agent
• Quality of life insurance products
Choosing the right insurance company is a good first step in finding a life insurance agent. Different life insurance companies have varying performance, credibility and client services capacity which includes how well the agents are able to discuss your needs, and goals in combination with their products.
Finding the right life insurance company can involve a little due diligence i.e. researching the company by contacting insurance regulators, searching the web for consumer reports, studying the performance of the company’s mutual funds and comparing costs with other life insurance companies. It can be helpful to select three or four companies during your research so you can make comparisons after meeting with life insurance agents.
It can also be helpful to identify your goals before setting up an appointment with an agent. For example, do you want a policy that also has cash value, how much monetary coverage do you need, what events do you want covered by the insurance etc. Your life insurance needs should be matched by a specific policy available through the insurance company.
The next step involves calling the companies and asking to meet with an insurance agent. Making mental and/or written notes throughout the process can help you ascertain which agent and company you feel most comfortable with. Things to look for include professionalism, clarity of the insurance products, and the ability of the agent to answer questions and explain the insurance products well.
Once the agent meetings are completed, take some time to think about everything they have told you because there is likely to be a lot of information to process. Asking yourself questions like how much is this going to cost? are there hidden fees? what happens if the investment products don’t perform? and what guarantees does the insurance company offer? may be beneficial.
The life insurance products available through an agent and/or insurance company are also important as it is the history, quality, range, scope and success of these insurance products that can make one life insurance product, and therefore the agent that sells them, better than another life insurance policy. Life insurance terms, benefits, tax incentives, financial vehicles etc. can be complicated at times so it is also helpful to choose an insurance agent who can adequately explain those products and answer questions about those products.
In summary, finding a life insurance agent can be a bit of a process. However, since life insurance is often a long term decision affecting retirement planning, family finances, the policy holder, and his or her beneficiaries, carefully choosing a life insurance agent is important. This article has outlined some of the key factors to consider when finding a life insurance agent including the agent’s qualities, the company and the products he/she represents.