It may seem like you can get answers online to EVERY question, and obtain quotes for all types of insurance… so you might be wondering… “Why consult with insurance professionals at all?“
Insurance professionals SHOULD:
- Determine your and your family’s personal needs for protection given the different scenarios in which you could find yourself—what do you need protection from and to what extent/financial level;
- Obtain information on how much you can afford to set aside per pay period to obtain whatever protections, you and the lnsurance Professional agree that you require
- Make recommendations on the different insurance programs that are available to you, within your financial constraints.
The need for the consulting with an insurance professional is clearly illustrated by the following statistics:
- 12% of consumers could not decide on what type of life insurance or how much to buy;
- 10% were afraid to make the wrong decision;
- 8% did not know enough about the various types of insurance.
The above constraints resulted in individuals not enrolling in any type of insurance benefit!!!
QUESTION: Why would you need an insurance professional’s guidance in determining what types of insurance programs you need? After all, shouldn’t YOU know best?
Answer: The types of insurance programs available to you are constantly evolving and increasing. New insurance programs are constantly entering the marketplace. A knowledgeable professional can outline the alternatives to you, along with the “pros” and “cons” of each option for your particular circumstance.
In addition, the experienced insurance professionals (based on their own experience PLUS that of others in the same profession) have a more global picture of the various scenarios that have befallen other similar families.
QUESTION: What are the ideal insurance professional’s characteristics?
Answer: The best insurance professional is one who is not tied to ONE SPECIFIC insurance company. WHY? Because the “captive” insurance professional is only interested in giving you advice skewed to particular products—whether or not these are the BEST options for you. These types of professionals will attempt to “shoehorn” the consumer into a given set of products, all handled by his/her company.
An insurance professional who works in an environment where he/she has knowledge of the different programs offered by a selection of insurance companies, is better able to show you many options for one any given set of circumstance.