18 March 2014 0 Comments

The Insurance Agent Relationship

shutterstock_144788374My very first entry referenced a statement purportedly made by Woody Allen, “There are worse things in life than dying.  Have you ever spent an evening with an insurance agent?”  It need not be that bad.  If it is, get another agent.  Here are some things to look for in an agent:

  • Does the agent ask many questions before offering a policy for sale?
  • Does the agent truly listen to what you have to say?
  • Do you feel the agent is suggesting a policy designed for your needs, not just a boilerplate solution?
  • Does the agent answer your questions in a straightforward manner?
  • Are alternative solutions explored?
  • Do you feel at ease with the agent’s demeanor and professionalism?

Here are some things you can do to assure the best relationship:

  • Be candid and honest in answering questions about your medical history.
  • Tell the agent if there are other issues that could affect your insurability (criminal record; abuse of alcohol, driving record, dangerous avocation, etc.)
  • Don’t submit simultaneous applications with more than one agent unless you inform them all what you are doing.
  • Let the agent know if you have had life insurance declined or rated up.
  • Tell the agent about any previous agent relationships that have displeased you.
  • If you decide not to deal with a particular agent, tell him and find someone else.

A good agent wants a good relationship with his/her clients—just as you want a good relationship with them.  Don’t settle for anyone who does not give you that comfort level you are looking for.  Beware of any proposal that looks too good to be true—it probably is.

Next…the difference between an agent’s representation and deliverance.

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