Have you ever shopped for life insurance and had that uneasy feeling that you knew about as much as your insurance agent? Sadly, this is common. Here are a few things that should throw up your red flag:
Beware the agent who will only talk about one form of insurance (term insurance, whole life insurance, indexed UL insurance, etc) or, worse, literally bad mouths other types of coverage:
People can develop prejudices towards one product or another. This includes agents. Truth is: Different types of policies have been developed to solve different types of problems. All forms are appropriate in certain situations. It is a real shame to find someone who has a small whole life plan who should have a large term policy. It is a tragedy to learn about them as the family struggles to deal with not having enough money after their death.
Beware the agent who can sell for only one carrier.
This is called a “captive” or “home office” agent. They cannot offer you anything other than what their company sells. They like to talk about how long their company has been in business or preach about financials but, unfortunately, they cannot really shop on your behalf for the best deal for YOU. It’s all about their sale and commission. This is a classic conflict of interest: Yours against Theirs. Not good.
Beware the agent who asks few questions
If an agent sits down and immediately offers a 20 year term plan for $100,000 and has not asked you a single (or very few) questions about you and what you are trying to do, you are dealing with an order taker…not an agent. This represents one of the biggest problems in the life industry today. People are buying products from untrained agents who do not know how to properly formulate a solution. It’s usually not their fault. These agents are usually captive, have never really been trained, and should be avoided.
Beware ads that promise things that sound “too good to be true”
Ever heard a commercial promising $250,000 or $500,000 or even more in coverage for what seems like a very low price? These are usually quotes on products like a 10 year term policies at the absolute best underwriting rate possible. Problem is, most people need something other than a 10 year term and rarely qualify for the best rate. So you apply and, instead of $500K for $19.95/mo, you might get offered the same policy for $115/mo…an unwelcome surprise to say the least.
Beware the agent who “knows it all”
It is a good sign to hear an agent say “let me check” or “great question, I’m not sure, but I can find out”. It means you have an agent who is concerned about accuracy and information. Just as in life, nobody knows it all. This industry changes often and having an agent who realizes that is valuable.
If you are looking for life insurance, you are in the right place. Everyone has problems and/or goals unique to their situation. We want to know exactly what you are trying to do so we can best help you select a plan that will fit you in every way…need, health, and budget.
We have access to all the major life carriers in the United States. You can rest assured that we will be quoting you a very competitive rate every time.
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