February 22nd, 2013
Why should you never go to a life insurance agent to become educated on life insurance? Where do you go?
Why should you never go to a life insurance agent to become educated on life insurance? Where do you go?
Insurance agents sell insurance. Whatever product they sell or are associated with is the “right” product for you. Going to an agent to advice is like going to a car salesman for advice on how much to pay for a car. There are many good books on different types of insurance and strategies to pay the least for the insurance you need.
Since life insurance agents sell life insurance for a living, they are not going to be looking out for YOUR best interest; they are looking out for THEIR best interest, which happens to be whatever life insurance will make THEM the most money. To educate yourself on life insurance, there are many books, websites, etc. that can help you determine what life insurance (if any), you should get.
Outstanding comments, I especially liked Katherine’s emphasis on who was benefitting the most from the “partnership.” The car salesman analogy explains it oh so well, Aaron.
Life insurance agents are commission based salesmen. They make a great deal in commissions when selling cash value policies (whole life, variable life, and universal life are the big three) and very little in commissions when selling term life polices. Gee, what do you think they will be pushing to you when you walk in their office? The system is rigged and that is why you should stay away from the life insurance agent. The conflict of interest clearly shows why you will not get an unbiased education.
I would encourage you to hit on the life insurance tab on this website and investigate further. This will provide you where to go (online term clearinghouses that sell term only) and who to learn from (teachers like Jane Bryant Quinn and Eric Tyson). Knowledge is POWER! Go get it!
The basis of this practice, is that, the indtsury feels those that have poor or less than average credit ratings, are a risk as drivers overall. Just like how they separate the young male driver, under 25, that their statistics have shown that they cause more wrecks than the norm. I feel the stats for young men is probably pretty accurate, most teenage guys can’t wait to get the fastest car they can afford, and they do tend to get into more trouble then the norm. I do not understand how your credit rating should effect your driving skills. Many people suffer a bad credit hit, without cause on their part. Someone may have cancer, for example, payments for treatment are huge, and naturally all your medical bills could back up, causing late payments. To say that, because of a medical situation, I have to pay higher insurance rates, is totally asinine! This regulation should be changed, I totally agree. http://cnhitoqtvqa.com [url=http://uqnczhogfv.com]uqnczhogfv[/url] [link=http://rztumnzo.com]rztumnzo[/link]
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Yes, but you have to have permission to do so. Also, evyoerne has what is called insurance capacity meaning this.. The amount of in force Life Insurance on any one individual is generally tied to the net worth of that individual. If your mother had a net worth of $5mm and your niece has a policy for $2.5mm you could (with permission) obtain roughly an additional $2.5mm on her. In my experience insurance capacity varies from one insurance carrier to another. Some companies insurance capacity can be a little higher than the persons net worth. Some can be a little lower.
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