Working with Life Insurance Agents

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Working with Life Insurance Agents

Life insurance agents are trained to help you with your life insurance needs. They will sit down with you and ask you questions about your financial life, your financial goals, and what you might need in an insurance policy. This discussion should come before, not after, talking about the insurance policies that the agent has to offer.

Here are some questions to ask the insurance agent you are talking with:

• How many years have you worked as an insurance agent? Ideally, you want an agent with at least a few years’ experience.
• How are you paid? By commission? Fee? A combination of both? Not all agents get paid the same way.
• What are your qualifications? By law, agents must have a separate life insurance license in each state where they practice. This is the minimum. A Series 6 license is also helpful. Other helpful designations include the Certified Financial Planner and the Chartered Life Underwriter.
• What are your specialties within the industry? Does the agent specialize in estate planning, life insurance for younger people, or something other? Specialists can offer more focused service to you and your goals.
• Have you ever been disciplined by your company or the insurance industry? Disciplined agents are most likely to have been terminated already, but it’s a good idea to ask anyway.

Where is a good place to find an agent? Try another satisfied client. Or try asking:

• Friends
• Neighbors
• Family
• Co-workers
• The agents who handle your other insurance policies
• Professional colleagues
• The Yellow Pages or your local newspapers
• Your accountant
• Your lawyer

Consider talking with several agents over the phone before making appointments with any one.