Life insurance agents provide a valuable service by explaining policy benefits and costs, but they may not tell you everything you need to know before you make a coverage choice. Agents are in the business to sell policies, so it’s to their advantage to focus on the positives. Consumers can protect themselves by doing some research so they’ll understand the basics of how life insurance works. It’s also important to ask questions about anything you don’t understand. “Not everyone’s needs are the same,” explains Curtis Price, an independent insurance agent based in San Diego. “You need to ask questions.” Here are five things that your life...
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Why it’s Important to Work with the Right Life Insurance Agent When you’re starting to think of ways to protect your family in the event of a tragic situation, such as your death, life insurance is immediately the first investment that comes to mind. The second thing, is how frustrating and long the process can be to purchase that investment. To make the decision easier, and the process faster, always look for an independent insurance agent! Working with an Independent Insurance Agent Working with an independent insurance agent is one of the best ways to find the perfect insurance policy for your loved ones. There is a lot of confusion surrounding the benefits of using an independent...
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Insurance agents limit themselves when they work with just an insurance license, especially if they sell life insurance. Annuities are a life insurance and securities product. To sell annuities, both license types are required. Insurance agents that possess securities licenses open themselves up to annuities and other investment products that provide big returns and lucrative commissions. What benefits do annuities provide to holders? Life insurance agents work to protect their clients from financial harm if the unexpected happens. Most people think this protection is limited to providing a death benefit, so it’s incumbent on life insurance agents to make their clients understand that...
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If you’re considering a new career, or you’re a recent college graduate looking to start your professional life, one field you might consider is Life Insurance and Health Insurance sales. It’s one of the few careers offering individuals with little or no work or sales experience the opportunity to earn a potentially large paycheck quickly. It also offers you the chance to be independent, set your own hours, and work where and when you choose. So, you may be asking, what are the steps to becoming a licensed insurance agent? Training and Licensing If you want to sell Life, Health, or other types of insurance in California and Nevada, you first need to obtain a license from the California...
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Welcome to Great Michigan Insurance Everywhere you go there is probably someone telling you that you need to hold insurance as a form of protection against various aspects. Insurance is quite tricky. It is not like buying groceries or a shirt or a chair. When you acquire an insurance policy, you are buying a promise. This is a promise that assures you if anything catastrophic happens to your home, business, car, or any assets you might have, your agency is going to support you and make your property whole again. Despite the promises, most people still question the value of any insurance policy mainly because the product is intangible. So, here are several reasons why it is essential to have...
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Dire straits ahead as South Korea is facing a dwindling number of insurance agents, attributed to a prolonged economic slowdown and increased customer preference for direct distribution channels. A sizeable number of agents are also moving away from being tied to insurers and transferring to independent ‘general’ agencies, a report by the Korea Times said. According to agents that made the shift, these general agencies have a more casual atmosphere and pay better salaries. Data from the Korea Life Insurance Association showed that the number of agents tied to insurers was at 99,886 as of the end of October 2018, down by nearly 10,000 from the previous year. From a peak of 157,...
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Reinventing Life Insurance Agency Distribution Globally NEW YORK—Life insurers globally face multiple challenges and among the most critical is the sustainability of their agency distribution models. After decades of limited innovation, distribution is on the cusp of major change, which will unlock benefits for all stakeholders, according to a joint research report from Boston Consulting Group (BCG) and Morgan Stanley Research, Reinventing Life Insurance Agency Distribution Globally. This report draws on more than 50 interviews with senior insurance executives; a survey of 850 agents in China, India, Germany, and the United States; and detailed proprietary financial modeling. It envisions a...
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NEWS & ARTICLES INSURANCE GUIDE A life insurance agent is a person whose expertise is in fitting clients with life insurance to suit their needs. These needs can range vastly, from income protection for loved ones in the event of an untimely demise to transferring assets efficiently from an estate after death, and even to saving for retirement in a tax efficient manner. Life insurance agents usually have some level of expertise in financial planning and determining income needs for families after the loss of a breadwinner. They may also be estate planners, trust advisers, and investment specialists. Varying Quality Of Life Insurance Agents Clients should always beware, however,...
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Life Insurance Agents With the advent of the Internet, the face of many businesses has changed completely. One such sector is life insurance, or for that matter, the entire insurance sector. It was in 2001 that life insurance companies embraced the Internet, changing their business models to accommodate selling insurance policies online. This gave consumers a new and more convenient way to shop for insurance, which has made the role of the life insurance agent more important than ever, although one would think to the contrary. A Life Insurance Agent at Your Side Going online to research life insurance and receive quotes from insurance companies is not only convenient and saves time; it's...
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Have you ever asked yourself what exactly is a life insurance agency and what makes it different from a life insurance company? All the time, right? Simply put, a life insurance agency is like a store. The agency sells the policy. The agency provides the service. The agency is who you call when you have questions, need help, or want to discuss your policy. A life insurance company is what makes the product—the insurance policy—that you buy in the store. Another term would be the insurer. Brass tacks, the insurance company is where your money goes when you buy the policy, and where your money will come from when the policy pays out. Your life insurance policy is written on that company’s...
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