Let's
just start with lack of a really thin
mustache and a 1970's leisure suit. If
you see those things then run, don't
walk. Most of our transactions these
days are done online so what's the
digital equivalent of the thin mustached
when looking for a term life agent?
Good question. Let's take a look at
what to look for and maybe more
importantly, what to avoid when looking
for your online term life agent.
First
of all, why use an agent at all?
That's a good question and it's
partially answered by whether you've
found a good one or not. Let's take it
back one step and address the need to
even contemplate using a life insurance
agent. First of all, buying term life
is not the sort of thing we do every day
(hopefully). A great deal of the
terminology, plan types, and company
names can be relatively new or opaque to
the term life shopper. Sure, you may
see more ads for a given life insurance
company but does that really mean their
plan is a better fit for your situation
and your budget? Probably not. The
ability to aggressively advertise might
even be the opposite. We all knew who
AIG was and look what happened to them.
The reason we want to contact an agent
is quite simple...we want someone to
help us make a good choice and avoid the
many bad ones we assume are out there.
This is really a question of trust. As
a shopper, I hope for two things.
First, I want you to put my interests
first...help me make a decision for my
situation that you would make for
yourself if in the same situation.
That's it in a nutshell. That's what
we all want from an agent or any
salesperson for that matter. Secondly,
you have to be knowledgable enough about
the term life insurance options out
there to actually make good on the first
requirement above. You can't help me
find the best plan if you don't know
much about all the available plans on
the market. Selling me the cheapest
plan isn't exactly the best move if I
have to fight with the carrier to
actually pay out. On the opposite side,
why pay more for a term life plan that
will deliver the same benefit and
service as a cheaper plan. A term life
agent should know this and act
accordingly.
So
now that we have established what we
want from life insurance agent, how can
we tell if a given agent will meet these
requirements? Here are a few things to
look for either online or over the phone
with a prospective term life agent. Do
they seem to be too pushy...trying to
get you to buy right now. With an agent
or website like this, it isn't that they
will necessarily steer you wrong but
it's definitely a warning signal. Do
they seem knowledgeable? Can they
clearly explain why a given plan is a
better option than another one? Do they
use a lot of jargon and confusing
terminology to move past your questions
or explain the differences. Do they ask
enough questions to adequately
understand your situation. Everyone's
financial and dependent situation is
different and although term life
insurance has become a more simplified
product, there's still a great deal of
variation when looking at length of
protection and amount of protection to
adequately cover your needs while
staying within your budget.
These
are some of the common questions to ask
internally when dealing with a potential
term life insurance agent but
ultimately, it comes down to a gut
response. If you feel like you're being
pressured, politely let them know you
have to take another emergency phone
call and never look back.
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