Picking the Right Life Insurance Agent

Picking the right life insurance agent means finding that individual who can offer the right advice based on your particular life circumstances and offer the best insurance products suited to those needs and at a competitive price. Finding the right life insurance can be confusing because every individual's life insurance needs vary, so picking the right life insurance agent is a vital first step.

Two Kinds of Life Insurance

Life insurance can be divided into two types:
  • Whole Life – This type of insurance is guaranteed coverage and guaranteed to be in effect for as long as you make pay premiums. It also builds up cash value which can be withdrawn or borrowed against.
  • Term Life – Term life insurance is coverage for a specific period of time. It is typically less expensive than whole life becomes far more expensive the older you become. It does not accumulate cash value.

The Right Product at the Right Price From the Right Agent

The two most important considerations in picking the right life insurance agent are finding the person with access to sell the right product for your needs at a cost-effective, competitive price. The lowest-cost insurance is not always best. Regardless of the product, be certain your agent is:
  • completely familiar with your financial goals and resources, risk tolerance, and tax considerations
  • able to help you understand the role the particular life insurance product he or she recommends will play in your life
  • able to give written evidence of the benefits of the policy, its cost and its cash value, if any
  • offers no pressure to buy a specific product
  • has all licenses in order and can be available to you and your family over time

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