If you are planning on purchasing Term life insurance with the lowest possible rates. Independent agents (brokers) can easily find the lowest rates possible for you any day of the week. The two types of agents are “independent agents” and “captive agents”. Independent agents are commonly known as Brokers.
They work with all the best life insurance companies on the market. The captive agents only represent one company and that is the one they work for such as State Farm or Farmers. There is actually no comparison between these two types of insurance professionals. An independent agent will simply shop the entire market to provide you with the best life insurance rates.
Independent agents do not work for insurance companies!
The advantages of utilizing a broker is the independent agents offer the best choice of life insurance products which is a critical ingredient if you are looking for the lowest possible premium. All the best life insurance companies underwrite their applications differently. This is why the broker will shop the market for you.
Another advantage of consulting an independent agent is if you have any health conditions or dangerous sports. Even hazardous occupations can impact your rates. Independent agents will be able to place the applicant with the most applicable life insurance company.
Using the most applicable carriers is crucial when securing the best life insurance rates.
The most important factor when purchasing low cost Term life insurance is to utilize the most appropriate life insurance company. They will always give the perspective client the best underwriting decision and the lowest premium. This will entail the individual’s health history which is by far is the most important factor when applying for the best life insurance.
Does this person have such conditions as high blood pressure, high cholesterol, heart problems, diabetes, and obesity? Even the applicant parent’s longevity enters into the formula. This holds true for Term life insurance, Universal life or Whole life insurance policies as well.
Cigarette Smoking has a major impact on life insurance rates.
An applicants tobacco use especially cigarettes can increase rates well over 300% over non-smokers rates. The premiums for life insurance for smokers can vary quite a bit from one carrier to another. Some of the carriers prefer not to sell term life insurance for smokers. They will price their life insurance quotes higher than others do. An independent agent will simply use the best life insurance company for smokers. This will also include other forms of tobacco that is used. There is a huge difference in premiums between one company and another. Especially when it comes to getting the best life insurance quotes for smokers.
Dangerous sports or occupations also make a big difference in the life insurance rates. Many consumers never realize this until they apply.
The potential applicant’s lifestyle which could be very important depending on the person occupation or sports he or she participates in. Dangerous occupations such as a policeman, firefighter, commercial diver or helicopter pilot for example can play a big part in obtaining the lowest premium. This is an example of high risk life insurance and why the risk and premiums can be higher.
There are quite a few independent agents that specialize in high risk life insurance and will automatically know what life insurance companies are the best to use. We run medical pre-screens for health conditions, hazardous occupations and sports. This will help you receive the lowest rates possible with no surprises after you apply and the policy is approved.
Sports such as drag racing, skydiving and scuba diving can play an important part in the underwriting process.
Dangerous sports such as drag racing, boat racing, skydiving, scuba diving, motorcycle racing and many others. Will also play an important role including the individual’s driving record. Shopping the market for the best life insurance quotes for people that engage in hazardous sports. Will require more experience than shopping for life insurance for a healthy person with no dangerous jobs or sports. A captive agent simply cannot shop this market because they only use one company.
There are many benefits to using an independent agent vs. a captive agent.
The question is now, why is all this all related to purchasing life insurance from an independent agent vs. a captive agent. The answer to this question is very simple. The independent agent has an arsenal of companies that he is contracted with. They use a wide choice of over 40 or more trusted life insurance companies.
A captive agent primarily sells auto insurance along with homeowners insurance. They never really gets much experience with life insurance products such as Term and Universal Life insurance. The auto insurance companies themselves never really have competitive rates because home and auto insurance is their number one concern.
All life insurance companies underwrite applications differently.
Since all life insurance companies underwrite applications differently and have their own niche markets. It is very important for the agent to shop the market for the carrier which will offer the best life insurance rates. Being limited to one company is not an option when purchasing life insurance. This is due to the fact life insurance is not a one size fits all type of insurance product.
Independent insurance agents use life insurance quoting engines to compare term life insurance quotes side by side. This will show them who has the lowest premium available for their client. The captive agent has no choice in the matter because they only represent one company. Activate our quoting system and you will be able to compare the most competitive companies side by side in less than a minute.
Captive agents are primarily home & auto insurance specialists.
Captive agents spend most of their time quoting their main product line which is homeowners and auto insurance. Their experience is usually limited when it comes to locating the best life insurance quotes. Especially when dealing with complications such as serious health problems or people with hazardous occupations. Independent agents (brokers) are a must for high risk life insurance.
The independent life insurance agents are usually life insurance specialists. They will spend their whole day discussing and researching life insurance products with perspective clients and carriers. They also spend considerable time going to seminars so they can keep up with new and improved life insurance products.
If you have any questions or concerns about the best life insurance products, don’t hesitate to call us.
There is never any cost or obligation having an independent agent help them. Comparing the best life insurance rates can be a little confusing when trying to do it yourself. Use our quote engine to compare the best online life insurance quotes. If you need high risk life insurance because of medical conditions, this is one of our specialties. Take a moment to read our about us page to learn more about us and our business.