In this video I discuss the benefits of working with an independent life insurance agent.
Looking to buy life insurance? Work with an independent agent only. Thats what I'm going to talk to you about in this video.
So if you're looking to buy life insurance there are so many options out there, it could really be very confusing. My recommendation to you is that you should work with an independent agent. So let's take a step back. There are two types of life insurance agents. Independent agents and captive agents. Captive agents are called captive because they work for one insurance company only, and they represent that one insurance company. So a captive agent might work for Metlife for example, or Nationwide.
So, for example when you work with that agent they are only going to recommend Metlife products, generally. And they're going to, their goal or incentive is to sell the products of Metlife, because they work for that company, they generally earn higher commissions and they're incentivized to work for that company and sell that company's products.
When you work with an independent agent, you're not dealing with that. Independent agents have contracts with many companies. They can have contracts with three companies, they can have contracts with ten companies. They're really allowed, or they're really able to do whatever they want, they can contract with multiple companies.
So why work with an independent agent? Well, when you're shopping for insurance it's important that you find the best price and that you find the best company for you.
Working with an independent agent allows you to do that. You can shop rates, compare them among many companies. If you don't like the results or the pricing of one company you could always then apply with another company, through that same agent, and you can also have a better fit for the type of policy you're looking for and your specific situation. As an example I recently worked with somebody who - we applied to one insurance company. We didn't get the health rating that we thought we would get or that we thought he should get, and so we turned around and submitted his medical records to another company and we got better results.
What was the final result? we were able to save five-hundred dollars a year by choosing to work with another company,where we thought he should get the health rating he deserved.
That's the benefit of working with an independent agent, you're able to do that. When you're working with a captive agent, that agent is incentivized and has, gets better pay to only work with one insurance company, and recommend that one insurance company to you.
The benefit of working with an independent is you're able to shop the entire market place. Especially if you have an existing health situation, there are specific companies that might give you more favorable ratings, and as a result a better price. So when you're shopping for life insurance you want to make sure that you're working with an independent agent.
My name is Liran Hirschkorn, and I am an independent agent. My website is chooseterm.com, you can visit the site and fill out a quote request form and I look forward to helping you with you life insurance needs. Thank you.
Author: Liran Hirschkorn