How Should I Choose a Life Insurance Agent?

When you're considering purchasing insurance, it is important to select an agent or broker who can help you. Purchasing life insurance can be complicated or confusing. The key to buying the right amount and the right type of policy at a good price is a good agent or broker. You should choose one that can help:

- Understands your financial situation, including your attitude towards risk, your income and estate tax brackets, and your other financial assets and obligations, in addition to your personal situation (that is, your age, marital status, dependents, etc.).

- Explains, in terms you can easily understand, issues, options and planned use of life insurance in your financial program.

- Serves you with a personalized written document.

• Records your current financial status and personal dat and
• Life insurance explains the features of a plan that can aid in your particular circumstances.

- Does not pressure you to make a decision, but works with you until you are ready and convinced you are doing what is best for you.

- Is willing to review your progress periodically over many years to see if it continues to meet your needs.

- Is licensed by your state's insurance agency.

If you do not have an insurance agent or broker who fits this description, ask your lawyer, accountant, friends, relatives, and business associates for the names of agents or brokers who are known for their outstanding work.

The liability issue.

Compared to everyone else, agents and brokers are paid for their services, which are bolstered by their experience and training. Most brokers and agents are paid by commission, but some work on a fee basis. Typically, the largest part of the payment is paid out when you set up the annuity, since the majority of the broker s or agent s work occurs at that time or just prior to it. Just like any professional, you need to understand how your agent will be compensated and how that may influence the purchase advice.

The best way to protect yourself is to make sure you understand what you are buying and why it is important for you to cancel the policy. I hope you enjoyed this session on everything you need to know about How Should I Choose a Life Insurance Agent? So always be sure to contact a professional before making any financial decisions.