January 23, 2014

Life insurance is “sold” not bought. What does this sentence imply and what can you do about it?

2 thoughts on “January 23, 2014”

  1. Kat Graham says:

    Life insurance agents sell life insurance. Most of what they are selling, you don’t need. Life insurance agents make a living based on what they can sell you. Instead, you should go to an online clearinghouse to buy TERM life insurance (and only if you need it). Some good clearinghouse websites are: term4Sale.com, selectquote.com, and accuquote.com.

  2. Mike Finley says:

    Well said, Katherine. Let’s recap.

    If you sit down with a life insurance agent, you will be “sold.” They are generally good at what they do and that means they are good at selling. What will they sell you most often? The products with the highest commissions for THEM. That should not surprise anyone and yet it happens far too often. Let’s take a look.

    Most policies sold are cash value policies like whole life, traditional, and variable life. Why? They earn the life insurance agent a big fat commission. Their company also benefits as they lock up your money in high fee products for years and decades. DO NOT let this happen to you! How?

    Follow Katherine’s advice. If you need life insurance (millions do not), go to one of the term clearinghouses Katherine highlighted. Term insurance is cheap and affordable to most people, which will allow them to afford the needed amounts. Not so sure? Hit on the insurance tab on this website and see what others have to say on this topic. Buyers beware!!!!!!!!

Leave a Reply

Your email address will not be published. Required fields are marked *

The Crazy Man in the Pink Wig