Independent Life Insurance Agent is a licensed professional who’s trained to help you find the right mix of coverage, value and price. They’re consultants for a lifetime, helping you through all of the changes in your life – from new home purchases, adding teen drivers to your policy and planning for retirement.
- Personalized Service
Unlike online companies that sell insurance, independent agents can offer their clients multiple quotes from a variety of different providers. Having access to so many choices helps their clients save time, as they don’t need to gather the quotes themselves and spend time comparing prices. This also allows their clients to find the right combination of price, coverage and service for their needs.
In addition, independent agents are licensed professionals akin to financial advisors, who take the time to understand their client’s needs and help them make the best decisions about their protection plans. They know the industry inside and out and can translate complex policy language for their clients. Moreover, they have a strong network of other independent agents with whom they can discuss complicated issues or cases that may require their expertise.
Independent insurance agents are often able to provide side-by-side comparisons of pricing and coverage options to give their clients peace of mind that they have found the best policies for their specific needs. This is particularly true for clients with difficult-to-insure risks, such as pre-existing medical conditions or risky occupations and hobbies. Independent agents can work with several insurance companies that specialize in these risks and can usually connect their clients with underwriters who may be able to offer them coverage.
In contrast, captive agents or exclusive agents only work with one insurance company and can only offer their own provider’s products to their clients. They may receive sales training and support from their insurer, but ultimately they are responsible for selling only that company’s products. Independent agents and exclusive agents both earn commissions when they sell policies.
- Local Support
As independent agents work closely with their communities, they understand the specific insurance needs of individuals in their area. They are able to help ensure that you have the right protection against risk, all while finding you a policy that fits your budget. And, when claims arise, they are your advocate and can guide you through the process to a satisfactory resolution.
A local agent is also a valuable source of information on changes to your home, car or business that may impact your insurance coverage. They can review your existing policies and recommend any changes that might be needed, such as adding a teen driver to your auto policy or purchasing a new building for your growing business. They can also provide referrals to a local financial planner or insurance consultant, if necessary.
Another benefit of working with an independent agent is that they can offer a wider range of insurance options than a captive agent can. While captive agents can sell a limited number of policies, independent agents can contract with multiple providers to find the best policy for their clients. This gives them the ability to offer a more personalized service and support, as they are not tied to one particular insurer.
However, this also means that an independent agent may get paid a higher commission for selling a more expensive policy than a cheaper option. It’s important for consumers to be aware of this when working with an independent agent, and to make sure they are doing their homework on the market so they can compare quotes from a wide range of sources.
Additionally, because independent agents are so close to their community, they can be an excellent resource when it comes to recommending a trusted financial planner or other professional. In fact, many customers report that their independent agent was the first person to show up when they experienced a loss. This is because independent agents view their job as much more than just a transaction – it’s about the people they serve and their well-being. They take the time to develop relationships and build trust with their clients, and they can help them through all of life’s milestones.
- Expert Advice
Independent agents have the knowledge and experience to help you assess your needs and make smart choices about your life insurance coverage. They’ll explain the ins and outs of your policy so you can understand exactly what you’re getting. Plus, they can help you navigate the claims process if you ever need to file a claim. That’s something you definitely won’t get with a 1-800 number or online form.
Another thing that sets independent agents apart is their access to multiple insurers’ products. A company appoints many independent agents to sell their policies, but some work with insurance membership networks or wholesalers that provide carrier access and administrative support. That way, they can shop around on your behalf to find the best policy for you. Independent agents can even provide side-by-side quotes to show you the differences in pricing and coverage between different insurers.
Independent life insurance agents can also offer you advice on other types of coverage that might be important for you, such as disability income protection or critical illness riders. These can help you pay off debt or cover expenses if the unexpected happens. They can also advise you on how much life insurance you need and recommend a suitable amount to meet your goals.
Finally, independent agents aren’t incentivized by any one insurance company. That means they can recommend the policies that are truly right for you, rather than what will earn them the most money. That’s a huge benefit, especially when compared to captive agents who are incentivized to sell policies that meet the requirements of their employer.
In addition, independent agents are available year-round to review your coverage and make recommendations based on your changing circumstances. They can also assist with filing claims and other customer service issues that may arise. They’re your advocate throughout your lifetime, helping you to navigate the complex world of life insurance so that you can rest easy knowing you have the coverage you need.
- Peace of Mind
Independent insurance agents can help you find the best policy for your needs and budget. They take the time to understand your risks and goals, then find coverage options that fit. They can also help you understand the fine print and clauses, so you know what you’re getting into. And they’re available year-round to answer your questions and provide expert advice.
In addition, independent agents can often help you save money by finding discounts that may apply to you. This is because they are not bound to any one carrier, so they can shop around for you on your behalf. In fact, this is an important part of their job, as they are paid on commission and must work to earn your business by helping you save money.
Independent life insurance agents also know which policies are more competitive in terms of price and coverage. For example, if you have a health condition or risky hobby, they can find the carriers that offer the best rates for these conditions and recommend policies accordingly. Similarly, they can also help you with specialty lines such as long term care or disability income insurance.
As your advocate, an independent agent can also help you when it comes to filing claims. They will be on your side throughout the entire process, ensuring that your claim is handled fairly and correctly. Additionally, they will remain on your side even after your policy is up for renewal.
Insurance can be complex and confusing, but an independent agent can help you navigate the process with ease. By taking the time to get to know your needs and then finding policies that meet them, they can make it easy for you to protect what matters most in life. Additionally, by being knowledgeable about all the different carriers and policies, they can save you time and money by doing the research for you. And by remaining neutral, they can help you avoid any conflicts of interest that might impact their recommendations.
