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What are Good Questions to Ask a Life Insurance Agent Before Making a Buying Decision?
September 24, 2020
Life insurance is important - ask the right questions.
Here are a few tests you can propose:
- Ask the life insurance professional what “product” they prefer to use.
- If they answer with a response that suggests whatever product meets the client’s needs, that is a positive response.
- Ask the life insurance professional what “credentials” they have acquired.
Typical life insurance credentials include, but are not limited to:
- CLU - Chartered Life Underwriter
- ChFC - Chartered Financial Consultant
- CFP - Certified Financial Planner
Credentials do not mean a person is a stand-out professional. However, it does suggest they have committed to higher learning about their craft.
Ask the life insurance professional about their most recent rewarding client interaction.
- If that leads to a discussion about how they landed some big financial client, it may be time to bail.
- If the question results in a discussion about how they secured the real needs of a family need or organization, you might have a winner.
Three potential questions to ask an insurance professional to see if their interest is centered around YOU.
Are their interests unified around what is best for you and your situation, or themselves? That’s the key.
If it is the former, you’ve likely got someone who will steer you in the right direction.
If it is the latter, you better know what you want before you start.
This article may have been originally published at Quora.com.
To see Jeff's Quora.com profile click here.
“Am I covered if I drive someone else’s car?” Or, “Am I covered if someone else drives mine?”
Many don’t realize that the insurance industry is one of the country's most regulated business segments, especially in New York State. The New York State Department of Financial Services (NYS DFS) wields significant control over the insurance business and has a stated goal of protecting consumers.
Most property insurance companies offer Actual Cash Value or Replacement Cost settlement options. Typically, insurance companies will require that you insure the property to the settlement value you choose. If you select Actual Cash Value, the amount you may be required to insure the property for will be less than the corresponding Replacement Value.
In that spirit, the Ryan Agency is sponsoring a Stearns BBQ Dinner pickup at our office on 57 Broadway Mall in Hornell on September 12th from 3:00 PM to 4:30 PM.
Today, an individual’s credit history can play a more significant role than any one of those traditional factors. Good Credit Scores lead to a Positive Insurance score. A good Insurance Score greatly influences what someone will pay to insure their vehicles.
Insurance companies offer various discounts for which their policyholders may qualify.
Great Eight number Six (6) suggests taking a look at removing Comprehensive and Collision on Older Vehicles.
By reducing the number of claims in your insurance history, you can significantly affect your rates in the future.
Sometimes, this concept meets with resistance from policyholders. The thought of paying more in the event of a claim is off-putting to some. Even if that means I pay more for my insurance.
OK. Admittedly, this strategy doesn't benefit everyone, but it can be very beneficial for those it does. You may have unique home or auto insurance needs that prevent you from bundling with the same company. Alternatively… you might have a better rate without the bundle discount by splitting up your insurance between multiple carriers.
