Comments on: How to Buy Life Insurance http://thefinancebuff.com/how-to-buy-life-insurance.html like a friend telling you about money ... Tue, 22 May 2012 00:03:35 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Jonathan http://thefinancebuff.com/how-to-buy-life-insurance.html#comment-2379 Jonathan Fri, 03 Jul 2009 22:01:37 +0000 http://blog.thefinancebuff.com/?p=159#comment-2379 I sell life insurance. no matter who you buy from you are getting the best price at the time and rating. Commisions are included in all sales or we wouldnt sell it. The internet is a great place to get information but usually the do it yourselfer thinks he knows more than who he is dealing with. As an agent I have worked with my underwritter to get my client a better rate based the support of my argument that they deserve the better rating. I have made the difference to my clients and been unable to help the term and saver that knows more than me. especially when he says he is going to save and doesnt and ten years down the line he doesnt have anything but his know it all attitude and term insurance that that expires when he has reached an age that leaves him uninsurable and unable to afford a new policy. WL we as agents need to help our clients understand the ins and outs of insurance and life a persons life. to help them plan. not sell term insurance and walk away. Everything on the web is part of a sales process, education and purchasing. the internet is a store front and sales pay for the store. jonathan I sell life insurance. no matter who you buy from you are getting the best price at the time and rating. Commisions are included in all sales or we wouldnt sell it. The internet is a great place to get information but usually the do it yourselfer thinks he knows more than who he is dealing with. As an agent I have worked with my underwritter to get my client a better rate based the support of my argument that they deserve the better rating. I have made the difference to my clients and been unable to help the term and saver that knows more than me. especially when he says he is going to save and doesnt and ten years down the line he doesnt have anything but his know it all attitude and term insurance that that expires when he has reached an age that leaves him uninsurable and unable to afford a new policy. WL we as agents need to help our clients understand the ins and outs of insurance and life a persons life. to help them plan. not sell term insurance and walk away.

Everything on the web is part of a sales process, education and purchasing. the internet is a store front and sales pay for the store.

jonathan

]]> By: Adam http://thefinancebuff.com/how-to-buy-life-insurance.html#comment-942 Adam Thu, 25 Sep 2008 15:58:32 +0000 http://blog.thefinancebuff.com/?p=159#comment-942 Its good that someone else advocates the obtainment of life insurance. Even at a young age its important imo the financial situation you can put your beneficiaries in if you are not covered is drastic. Being covered is being responsible, to yourself and for your loved ones. Its good that someone else advocates the obtainment of life insurance. Even at a young age its important imo the financial situation you can put your beneficiaries in if you are not covered is drastic. Being covered is being responsible, to yourself and for your loved ones.

]]> By: Justine http://thefinancebuff.com/how-to-buy-life-insurance.html#comment-890 Justine Fri, 05 Sep 2008 20:41:55 +0000 http://blog.thefinancebuff.com/?p=159#comment-890 hi my name is justine and i believe strongly in life insurance! Before i had no idea what life insurance was but than i met this couple who introduced us to the buisness called primerica. there are a lot of strong negative issues about this buisness but i guess it depends on the person. for myself, my spouse, and our three kids we couldn't have been at the right place at the right time. we are agents now and we sell soley term. you were saying in one paragraph that cut the agent out. well, that might be true for one part but we are trained to read the current policy that the families we are trying to help have. we educate them on what they have, and show them how to buy term and invest the diffence. what i enjoy about this company is that we don't get paid by each policy but by the family so we aren't trying to rip off the family and give them two diffent policies plus no one wants to think of their children passing away but in reality it can happen, so we cover the children until age 25. So im glad that you see that term is good and you are educating people on this because we come accross to many families that are getting ripped off. Thank You for reading this. hi my name is justine and i believe strongly in life insurance! Before i had no idea what life insurance was but than i met this couple who introduced us to the buisness called primerica. there are a lot of strong negative issues about this buisness but i guess it depends on the person. for myself, my spouse, and our three kids we couldn’t have been at the right place at the right time. we are agents now and we sell soley term. you were saying in one paragraph that cut the agent out. well, that might be true for one part but we are trained to read the current policy that the families we are trying to help have. we educate them on what they have, and show them how to buy term and invest the diffence. what i enjoy about this company is that we don’t get paid by each policy but by the family so we aren’t trying to rip off the family and give them two diffent policies plus no one wants to think of their children passing away but in reality it can happen, so we cover the children until age 25. So im glad that you see that term is good and you are educating people on this because we come accross to many families that are getting ripped off. Thank You for reading this.

]]> By: TFB http://thefinancebuff.com/how-to-buy-life-insurance.html#comment-229 TFB Wed, 12 Sep 2007 21:45:00 +0000 http://blog.thefinancebuff.com/?p=159#comment-229 Byron,<br/><br/>Thank you for your comments. I think other than the issue of local agents versus an agent elsewhere, you pretty much agree with what I wrote. If that's the case and you are indeed Byron Udell of AccuQuote, I'm flattered. I have a CEO reading my blog?<br/><br/>From <a HREF="http://www.accuquote.com/udell.cfm" REL="nofollow">AccuQuote</a>:<br/><br/>"Byron Udell is founder and chief executive officer of AccuQuote. ... With more than 20 years of industry knowledge, Udell is widely acknowledged as one of the nation’s foremost life insurance and annuity industry experts. In addition to his law degree (JD) and Series 7 general securities license, he has earned the Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC), and Certified Financial Planner (CFP) professional designations. ... Udell has written numerous life insurance industry articles and been cited in hundreds of business publications, financial books, and other periodicals."<br/><br/>I think the agents referred by term4sale are all independent agents representing multiple companies. They don't show captive agents who only sell for one company. Byron,

Thank you for your comments. I think other than the issue of local agents versus an agent elsewhere, you pretty much agree with what I wrote. If that’s the case and you are indeed Byron Udell of AccuQuote, I’m flattered. I have a CEO reading my blog?

From AccuQuote:

“Byron Udell is founder and chief executive officer of AccuQuote. … With more than 20 years of industry knowledge, Udell is widely acknowledged as one of the nation’s foremost life insurance and annuity industry experts. In addition to his law degree (JD) and Series 7 general securities license, he has earned the Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC), and Certified Financial Planner (CFP) professional designations. … Udell has written numerous life insurance industry articles and been cited in hundreds of business publications, financial books, and other periodicals.”

I think the agents referred by term4sale are all independent agents representing multiple companies. They don’t show captive agents who only sell for one company.

]]> By: Byron Udell http://thefinancebuff.com/how-to-buy-life-insurance.html#comment-228 Byron Udell Wed, 12 Sep 2007 18:23:00 +0000 http://blog.thefinancebuff.com/?p=159#comment-228 I'm glad you're helping spread the message of the importance of life insurance. I completely agree with you on point #1 and #2 that you make: free group life insurance coverage from work is NOT nearly enough to protect a family from financial disaster and buying extra coverage through your employer CAN be very expensive. <br/><br/>Sites like term4sale, AccuQuote, etc. are good tools to get an idea of which company will give you the best deal. In fact, they are all the same quoting engine. Yet that does not mean they can give an accurate quote for every specific combination of lifestyle and health profiles. <br/><br/>That's why it's so important to use an agent to assist you in your purchase decision. <br/><br/>However, I don't quite agree that your local agent is the best agent to use. I think that an agent or brokerage firm that deals with multiple companies is the best. Here's why: when you go to a quoting system like term4sale, you can only punch in so much information and the computer will spit out an answer. Let's say the computer tells you that Prudential will offer you the best rate. So, you go to an agent that sells Prudential and maybe he also sells one or two other companies' products. Depending on your specific health and lifestyle conditions (like driving record, family history or even foreign travel), the most favorable rate might in fact be at a company other than those that your local agent sells. <br/><br/>An agent at a brokerage firm that deals with multiple carriers will know the ins and outs of each company (and are licensed in all 50 states). These agents can determine who will give you the most favorable rate for your specific condition. I hope that makes sense. <br/><br/>For consumers the main point should be shop around - use the interet to research but contact several different agents because as you mentioned, the rates are the same, however the way various cases are underwritten for lifestyle and health profiles are not. I’m glad you’re helping spread the message of the importance of life insurance. I completely agree with you on point #1 and #2 that you make: free group life insurance coverage from work is NOT nearly enough to protect a family from financial disaster and buying extra coverage through your employer CAN be very expensive.

Sites like term4sale, AccuQuote, etc. are good tools to get an idea of which company will give you the best deal. In fact, they are all the same quoting engine. Yet that does not mean they can give an accurate quote for every specific combination of lifestyle and health profiles.

That’s why it’s so important to use an agent to assist you in your purchase decision.

However, I don’t quite agree that your local agent is the best agent to use. I think that an agent or brokerage firm that deals with multiple companies is the best. Here’s why: when you go to a quoting system like term4sale, you can only punch in so much information and the computer will spit out an answer. Let’s say the computer tells you that Prudential will offer you the best rate. So, you go to an agent that sells Prudential and maybe he also sells one or two other companies’ products. Depending on your specific health and lifestyle conditions (like driving record, family history or even foreign travel), the most favorable rate might in fact be at a company other than those that your local agent sells.

An agent at a brokerage firm that deals with multiple carriers will know the ins and outs of each company (and are licensed in all 50 states). These agents can determine who will give you the most favorable rate for your specific condition. I hope that makes sense.

For consumers the main point should be shop around – use the interet to research but contact several different agents because as you mentioned, the rates are the same, however the way various cases are underwritten for lifestyle and health profiles are not.

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