Choosing A Life Insurance Plan

August 15th | No Comments | Posted in Articles, Life insurance

You’ve done your search in the various life insurance products available, and you are now ready to sit down with an insurance agent or financial Representative to evaluate your needs, but from where to start?

There are so many agents, offices and signatures, as you know who can help and Which Company to choose?
First of all regardless of which agency or agent you choose, you have to know that if they are properly licensed for insurance products and financial services you seek.

Start an insurance agent’s license “Life, Health and long term investment (annuity) for the state you practice. This allows them to sell terms and whole life insurance, health insurance and investment long term (Annuity) sets.

Agents also need to license Series 6 (values) in order to sell mutual funds, variable life insurance and variable investment that are long termed or other vehicle investment that holds mutual funds.

It would be safe to say that most insurance agents who are associated with a large insurance firm or have their own independent insurance agency, have these two licenses in order to sell a large variety of products, these offices provide to meet all your needs.

However you should do your due diligence and ask them if the license is current and that they have not allowed to expire, these licenses require a certain amount of additional education and certification require that the person who hold them is eligible to have renew them after every two years to keep them current.

It is also good to know if they have obtained any additional designation. A person who takes the time to learn and grow within their industry is a person that has chosen this as the race for his life. And you can feel confident that they will be specialists in the field of Insurance and Finance, and will exist for years to come.

Here are the most common designations:

  • Authorized CFP-Financial Advisor
  • CLU – Chartered Life Underwriter (Evaluation of risks of life)
  • ChFC – Chartered Financial Consultant (Financial Consultant)

Which company you choose to go, it is entirely up to you. Some people want the comfort of knowing that all their products are of the same company, and that the company has strength and longevity to support what they sell.
The financial representatives and advisors for these large insurance corporations typically sell only the trademarked products; such as its payment structure requires them to do.

The advantage of doing this is that you know you’re getting a solid product backed by a solid company.
The disadvantage is that they usually cannot offer you a wide variety of products on the basis of comparing prices.
Others like the idea of a small office insurance because you can develop a more personal relationship with your insurance agent, and they can meet more individual needs.

The products and services they offer yet is backed by a large insurance corporation, so no need to worry about the financial stability of the products you purchase, but if for independent financial firm, since they are not associated with any company trademark, have the ability to offer a wide variety of services and products because of price comparison.

When it comes time to choose the right life insurance, or agency: you know the facts. And to know a little about the professional services that each agent can offer, and know what type of business you feel more comfortable, you will have to move forward and feel secure with the safety and financial protection for your family eventually chose and you.

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