Buy Life Insurance

Where should you buy life insurance from? If you are looking for life

insurance this can be a confusing decision. Is it best to buy from an agent, a broker, or direct insurance company?

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The following ideas might be helpful, no matter where you are.

Three Key Ways to Buy Life Insurance:

1. Through a Life Insurance Agent

An agent represents just one company. The downside is that the agent only has a few options to offer you. The upside is that an agent should be very familiar with the company and policy represented.

Many people start in the insurance industry as a life insurance agent and learn a great deal from the company they first start with. Over time many feel that they are not doing a good enough job for their clients because they can not shop the market on their behalf. That said, there are a number of great agents who really care about their clients and do great work on their behalf. But many do wish they were brokers!

2. Direct from Life Insurance Companies

You can buy life insurance direct from some insurers. This is done through the insurance company website or through an insurance company toll free number.

It is generally pretty easy to buy direct. The call centre or internet center is well designed to take your information and process a sale. The overall process might be lacking because how well can a big corporation get to know you? If you buy from an agent or a broker they help you deal with the big insurance company and make sure that you get what you need. Not only that, but if you have a problem, who will you deal with? The person who handled your transaction in the direct buy route will not be the same person you speak with if you have any questions or concerns. But if you buy from an agent or broker you know who you will be dealing with if there are any problems.

3. Through a Life Insurance Broker

A broker is probably your best bet in buying life insurance. This is because a broker represents many life insurance companies and is an unbiased advocate for you.

A life insurance broker will deal with many life insurance companies and will know which ones are best for your situation. Aspects of your medical history, lifestyle, and occupation may be viewed differently by each insurer. It is important to find the best insurance company to apply with.

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Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. Make sure you review the "please read" page.

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