How to Get the Best Life Insurance Rates
Posted by Lenny Robbins on Thu, Jan 26, 2012 @ 03:40 AM
When looking for the best life insurance rates, the most important step you can take is to work with an independent life insurance agent. Comparing prices online is a useful way to get a sense of the market, but you need professional assistance to truly find the best life insurance rates.
The Personal Touch
Term insurance is the smartest choice for many people, and you can buy it online. But you close the policy with an agent on the phone, whose job is to process your purchase as quickly as possible - not to take the time to find the best deal for you. And you’re certainly not going to learn about better rates from other carriers.
Independent agents have relationships with many carriers. And they stake their businesses on reputation and customer relationships. They speak with you individually to satisfy your needs and goals and find you the best life insurance rates.
The Right Carrier for Each Life Situation
Once your situation is assessed, a knowledgeable independent agent can lead you to the best insurance rates for specific health and lifestyle issues, such as:
- smoking
- diabetes
- dangerous work
- risky hobbies
A good independent agent will also know which carriers offer the best life insurance rates for particular ages. For example, some companies set rates with an eye to attracting seniors, while others focus on younger clients. The agent will connect you with the right carriers for your age.
Expert Guidance
Term insurance isn’t your only option. For some people, a permanent policy makes sense. Independent agents can not only help you find the best insurance rates, they can help you determine the policy type that best suits you. They will help you answer questions such as:
- What type of insurance best suits your situation?
- How much coverage do you need?
- How does life insurance relate to your retirement?
An independent agent will help you consider available features (e.g., conversion from term to permanent) and find the best deal for them. And an agent can also explain how you can benefit from specific life insurance strategies such as 1035 conversions, pension maximization, and survivorship policies.
The Bottom Line
An unwise life insurance purchase can lead to years of additional premium cost, as well as lost opportunity for financial advantages. Finding the best life insurance rates is too important not to take advantage of the guidance you can get from an independent life insurance agent.
Photo credit:Benjamin Sperandio