How to Select the Right Life Insurance Agent

Today, there are many life insurance agents out there, claiming to be the best or the most qualified life insurance broker on the planet. But you need to be careful before you select any one. Experience has shown that a bunch of them are quacks: they are unreliable and the only thing they care about is the amount of commission they will get from you – instead of thinking about meeting your life insurance needs. To choose the right life insurance agent, we believe the following suggestions would be of help.

Get recommendations from loved ones

Immediately you are entirely sure that you need a life insurance agent, you can start your search by asking family, friends and loved ones to recommend a professional life insurance agent for you. However, if you cannot find any good suggestions, you can contact Life Endowment or any professional you trust for recommendations.

Check their credentials

After you’ve found a few potential life insurance agents, you can filter your lists by checking their credentials. This entails asking for their certifications and educational background. Most professional life insurance brokers have Chartered Life Underwriter (CLU) qualifications, while some of them have earned such professional designations as Certified Financial Planner (CFP), National Association of Insurance and Financial Advisors (NAIFA), Chartered Financial Consultant (ChFC). Even though selecting people with these qualifications do not guarantee that you will get the best life insurance services, they will assist you to make the right decisions.

Compare their commissions

The major stumbling block of hiring life insurance agents is the compensation fees. So, it is pertinent that you understand how they are compensated for their services. Some will charge you low commissions, whereas some will charge you high commissions. But if you don’t want to pay an arm and a leg for hiring a life insurance broker, you will better off if you compare their commissions. Also note that some life insurance agents prefer fixed payment for their services, while others have a penchant for charging hourly. Comparing their fees, including their terms and conditions, will help you save costs and avoid future dispute.