One of the most important financial products that you can get to protect yourself and your family is life insurance, and one of the best ways to get it at affordable rates is through an independent insurance agent. Working with an insurance agent has its benefits, but there are also some potential drawbacks to working with this type of advisor that you should be aware of. Here are four things to consider when dealing with an insurance agent
1) Check Out Their References
When you’re ready to start looking for an insurance agent, be sure to check out their references. A good agent will have plenty of happy clients who are willing to vouch for them. You can also look up reviews online to get a sense of what others have experienced.
2) Do They Have Any Awards Or Education?
The first thing you should consider when dealing with an insurance agent is whether or not they have any awards or education. Awards show that the agent is knowledgeable and has been successful in the past, while education shows that they are continuing to learn and grow in their field.
Do They Have A Good Reputation? (five sentences): The second thing you should consider is the agent’s reputation. You can ask around to see if anyone has worked with them before, or look for online reviews.
3) How Long Has The Company Been Around?
It’s important to find an insurance company that has been around for a while. A company’s longevity is usually indicative of its stability and its ability to pay claims. You don’t want to be stuck with a company that goes out of business a few months after you file a claim.
What’s The Company’s Rating? (five sentences): Insurance companies are rated by organizations like A.M. Best and Standard & Poors.
4) Are They Licensed To Sell In Your State?
When you’re shopping for insurance, be sure to ask your agent if they are licensed to sell in your state. Each state has different requirements for insurance agents, and you want to make sure you’re working with someone who is familiar with the laws in your area.
What Type Of Insurance Do do They Sell? (three sentences): There are many different types of insurance, from health and auto to life and homeowners. Make sure you know what type of coverage you’re looking for before you start talking to an agent.