Why is insurance so hard/ expensive/ complicated?
Why most people complain about insurance:
- It’s expensive
- It’s complicated
- It’s hard to get
- Too many options
- Too many companies
- Too many scams
After being in the insurance industry for over 16 years, I can confidently say that with the right knowledge, insurance CAN be everything you want it to be: cheap, simple, easy to obtain, easy to navigate, pay benefits on time, pick the right and most stable company/provider, choose the right riders and you can get a great insurance plan that will be there for you and your family when needed most.
Why you need an agent
As an independent insurance agent, I have to stay up-to-date with all the insurance regulations (minimum 40 hours of continuing education, need to have annual AML training or anti-money laundering, specific insurance product training and updates, plus each company I work with has their own systems training as well.
Why work with an INDEPENDENT agent?
As an independent agent I can work with any and all insurance companies on the market, and be able to compare all companies’ rates, knowing that you can choose the lowest rates or the right product and company for your unique situation.
In comparison, if you call an insurance company’s sales department directly, their staff is ONLY trained to tell you about their own product, unable to compare or to give you any non-biased advice.
Below, I will debunk many of the myths people believe about insurance:
“Insurance is expensive”
If you don’t know how to compare rates and features, you may have the wrong impression that insurance may be too expensive. However, using an experienced INDEPENDENT agent you can sort through ALL the insurance companies available, picking the most stable ones (“A”-rated) and with the lowest rates.
Did you know that you can get $250,000 Life Insurance for under $10 per month?
- For example, LIFE INSURANCE: a $250,000 term-life policy (10-20 years of coverage) can be as low as $10/month or less, if you’re under the age of 40, non-smoker and in great health. The best part: you LOCK-IN the cost for the life of the policy.
- Accident health plans can start at $17/mo. per person or $26 for the whole family.
- Cancer and Critical Illness plans can cost as low as $15/month. Same with disability insurance plans.
In conclusion, insurance does not have to be expensive. Ask YOUR independent agent about rate comparisons and if you don’t have one – contact me: I will answer all your concerns without pressure to purchase anything, since my philosophy is to get a client for life, not to just make a quick sale.
“Insurance is complicated”
Do you find yourself overwhelmed with options, riders, exclusions, hybrids, ratings, etc?
Then, you need to work with an experienced agent you trust, who is independent and can compare multiple companies and weed out all options you don’t need. If you go direct to any insurance company, they will most likely push their only product and try to stuff it with extra riders and options that you don’t need, just so they make more profit off of you.
A good independent agent knows that a person has different needs throughout their lives, and will build a relationship by only offering the coverage you actually need, at the lowest cost available.
“Insurance is hard to obtain / apply for”
Have you ever been declined by an insurance company? It’s possible that you may have had difficulty getting insurance coverage due to health issues or income limitations, or any various other reasons.
What you need to know is that not all insurance companies are the same, and some have different health or income requirements to mitigate their risk and issue an insurance policy.
An experienced agent will be able to find the right companies that will take your case.
“There are too many insurance options / companies”
That’s exactly why you need an INDEPENDENT agent on your side. An insurance agent that is independent will act as a broker between you and the insurance company, protecting you from obscure companies that are not highly rated financially, or have client complaints. A good independent insurance agent will be able to direct you to “A”-rated insurance companies – rating that reflects both strong financial stability and no customer complaints.
“There are too many scams out there, I don’t know who to trust”
Your agent should be able to provide his personal credentials (state insurance license) and E&O (Errors & Omissions coverage). If an agent does not have BOTH of these credentials available to show upon request, find another agent.
As for trusting the right insurance company – your agent will be able to show you how to check the rating of the insurance companies she/he recommends: “A-” rated or better (A+, A++) are all stable, trustworthy, reliable insurers.
Still have questions?
Call me for a FREE CONSULTATION – no obligation, free review of your existing policies.