Friday, March 27, 2015

Facts of Life Insurance - How to Avoid Being Declined

Fear of rejection is one of the deepest human fears.  Nobody likes to be rejected.  It happens in the world of relationships and in most industries.  Insurance is no exception. 

As individuals consider their insurance needs and begin the process of applying for coverage there are some things to consider to avoid a potential declination.  A good agent should be able to access your situation by asking the right questions.  If they are in-depth with their fact finding they will be able to direct you to the correct company based on your health and financial situation.

Ideas to Consider:
1. Apply Informally - An agent can send all of the normal requirements but, let the company know an informal application and if it appears to be a decline the case can be pulled.
2. Quick Quote - An agent can send a quick blast out to multiple carriers with an overview of the case and the carriers will reply back with a possible outcome assuming everything comes in as outlined.
3. Apply at Multiple Companies Informally - For a client applying for a great deal of coverage an agent can send an informal application out to several carriers partly as way no to raise any red flags with other companies.

Enjoy our video....

Thursday, March 19, 2015

Facts of Life Insurance - Captive vs. Independent Agents

There are several differences between a captive insurance agent and an independent agent.  It is important as you assess your own insurance needs.

1. An independent agent is working for the client whereas a captive agent is working for the company they represent.
2. An independent agent could potentially have access to dozens of carriers instead of being limited to one.
3. Independents can help a client determine which company may be best to use based on their health and financial situation.  A captive agent is stuck with only the products they're company has.
4. A captive agent has very little to no incentive to review your policy in the future as it may be detrimental to replace what they have already done.  An independent has the flexibility to continually review the marketplace as things change in the industry as well as things change for a client's situation.
5. There is no benefit for a client to apply directly with a specific company.  The premiums will be the same and they are better off getting guidance from an independent agent as they decide what is best.

Enjoy our video....