In today’s tough economic times, a growing number of consumers are choosing to work with a life insurance broker. The reason is simple: Such a broker can save consumers a significant amount of money on their life insurance coverage.
According to a recent study by LIMRA, an association that serves life-insurance and other financial-services companies, consumers purchase more than 50 percent of their life-insurance policies today from an independent life insurance broker. This is a significant change from the days when most consumers purchased their life insurance policies from an agent who worked for one specific company.
Consumers shouldn’t expect this trend to slow. Life insurance brokers analyze policies from several different companies. They then have the freedom to choose the one policy that fits best for their client.
Often, clients will end up paying far fewer dollars each month for life insurance when they work with an independent broker. Other clients will be able to get coverage even if they have preexisting medical conditions thanks to the research done by their life insurance broker.
Before they can think about saving money, though, consumers need to find a life insurance broker with whom they feel comfortable. Consumers will talk with their brokers about many personal health and financial matters. It’s important for them to find a broker whom they both trust and like. This will help to make these sometimes uncomfortable conversations less stressful and more natural.
Once consumers find a broker with whom they’re comfortable, they should ask for references. And they should make sure, once they receive these references, to actually call them.
Any good, ethical life insurance broker will have no problem passing along the names and contact information of some of their past customers. These clients can then tell potential new customers exactly how dedicated a broker was to saving them money and finding them the best life insurance policy. They can also tell potential customers if a broker was willing to take the time to carefully explain the many life insurance products and options that are now available.
Working with a life insurance broker can bring consumers a world of benefits. The key, though, to making this relationship work is for consumers to carefully vet potential brokers. Once consumers have done the research, called the references and found that ideal fit, they can then count on saving some significant dollars on their life insurance premiums.
According to a recent study by LIMRA, an association that serves life-insurance and other financial-services companies, consumers purchase more than 50 percent of their life-insurance policies today from an independent life insurance broker. This is a significant change from the days when most consumers purchased their life insurance policies from an agent who worked for one specific company.
Consumers shouldn’t expect this trend to slow. Life insurance brokers analyze policies from several different companies. They then have the freedom to choose the one policy that fits best for their client.
Often, clients will end up paying far fewer dollars each month for life insurance when they work with an independent broker. Other clients will be able to get coverage even if they have preexisting medical conditions thanks to the research done by their life insurance broker.
Before they can think about saving money, though, consumers need to find a life insurance broker with whom they feel comfortable. Consumers will talk with their brokers about many personal health and financial matters. It’s important for them to find a broker whom they both trust and like. This will help to make these sometimes uncomfortable conversations less stressful and more natural.
Once consumers find a broker with whom they’re comfortable, they should ask for references. And they should make sure, once they receive these references, to actually call them.
Any good, ethical life insurance broker will have no problem passing along the names and contact information of some of their past customers. These clients can then tell potential new customers exactly how dedicated a broker was to saving them money and finding them the best life insurance policy. They can also tell potential customers if a broker was willing to take the time to carefully explain the many life insurance products and options that are now available.
Working with a life insurance broker can bring consumers a world of benefits. The key, though, to making this relationship work is for consumers to carefully vet potential brokers. Once consumers have done the research, called the references and found that ideal fit, they can then count on saving some significant dollars on their life insurance premiums.
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