The Rewards of Choosing the Right Professional.
I recently went to a new doctor and noticed he was located in something called the Professional Building. I felt better right away. George Carlin
Life insurance is not a commodity and everyone with a life insurance license is not alike. If you are not working with the right professional to meet your needs, you may not be getting sufficient advice about alternative products, price and better options.
There is no shortage of articles focused on the various types of life insurance, including how much to buy and which one is best. Unfortunately, there is little guidance about how to choose the right professional, even though it may be as important as anything else concerning your life insurance.
Is your insurance agent adding measurable value? How can you tell? If you answer ’no’ to any of the following questions, you will be well served by a second opinion:
- Are you aware of how the Installment Payout Option reduces premiums as much as 40%?
- Do your life insurance policies allow you to draw against the face amount for critical, chronic, and terminal health problems?
- Are you using a life insurance policy to accumulate wealth on a tax deferred basis that is safe from creditors?
What to expect from a life insurance counselor:
- Policy and design options for you, your family and your business.
- Provide ongoing counsel about alternatives – review and monitoring of new and existing policies.
- Works closely with other advisors.
- An advocate during the underwriting process.
- Provides ongoing service.
It is difficult to choose the right professional, regardless of the industry. This can be more challenging for people with constantly evolving needs. For many, the insurance agent they purchased policies from twenty years ago may not be the right agent for them today.
How do you choose the best life insurance professional? Use the following guidelines to help make this decision:
- Experience = Expert.
- Counselor or order taker? This is often the difference between a good professional and a great one. A counselor is proactive and brings new ideas and concepts – makes recommendations.
- Specialist or generalist?
- Full disclosure and transparency.
Finally, it is important to give thought about what type of professional works best with you and your family. This always proves to be time well spent.
That’s how you win in Life Insurance 2.0.
Ted Bernstein is a third-generation licensed life insurance specialist and nationally recognized industry innovation expert in alternative distribution strategies and life insurance product development with decades of speaking out and advocating for changes on behalf of consumers. He was the first to introduce life insurance without commissions or “no-load” life insurance in the mid-1980s and launch the first fee-based Life Insurance Policy Audit and Review service for trust companies and life insurance fiduciaries. A recent innovation, the Installment Payout Option, is a game-changing innovation. To learn more, visit www.lifeinsuranceconcepts.com or call 561-988-8984.