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Why Independent Life Insurance Agents can Provide the Lowest Rates!

Jack Venturi Life Insurance Comments Off on Why Independent Life Insurance Agents can Provide the Lowest Rates!

Independent life insurance agentsIf you are planning on purchasing Term life insurance with the lowest possible rates, an independent agent can easily save you the most amount of premium dollars when compared to a captive agent any day of the week. The two types of agents will be the independent insurance agent commonly referred to as a “Broker” and the “Captive Agent” that represents only one company such as State Farm, Farmers or Allstate. There is actually no comparison between these two types of insurance marketing professionals.

The captive agents have there one company to show you vs. the independent agent/broker that can use over 40 different life insurance companies. An independent agent will shop the entire market to provide you with the lowest rates.

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 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 there are any health conditions or hazardous sports or occupations of the applicant to be considered, the independent agent that represents many different carriers will be able to place the applicant with the most applicable carrier. Here are the main reasons to consult an experienced independent agent over the captive agent in more detail.

Using the most applicable carriers is crucial when securing the lowest Term life insurance rates.

The most important factor when purchasing an affordable life insurance policy is to utilize the most appropriate life insurance carrier that will give the perspective client the best underwriting decision and the lowest premium. This with entail the individual’s health history which is by far is the most important factor when applying for low cost 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 policies as well.

Cigarette Smoking and other tobacco use has a major impact on life insurance rates. Life insurance companies can vary to the extremes with tobacco rates.

The individuals smoking status which is very important due to the fact the rate increase for smokers could be well over 100% higher 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 and price their life insurance quotes higher than others do. An independent agent will simply use the best life insurance company for smokers and other forms of tobacco that is used. There is a huge difference in premiums between one company and another when it comes to getting the lowest 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. 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. The independent agents will pre-screen medical conditions, hazardous occupations and sports so you receive the lowest rates possible with no surprise after the individual applies 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 requires more experience and training than just shopping for life insurance for a health person with no dangerous jobs or sports. A captive agent 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 like State Farm, Farmers or Allstate? The answer is very simple; The independent agent has an arsenal of companies that he or she is contracted with that could total over 40 or more trusted life insurance companies. A captive agent primarily sells auto insurance along with homeowners insurance and never really gets much experience with Term and Universal Life insurance products. These auto insurance companies never do have competitive rates because home and auto insurance is their primary insurance product.

All life insurance companies underwrite applications differently.

Since all life insurance companies underwrite applications differently and have their own niche markets, it is crucial for the agent to shop the market for the carrier which will hand down the best offer for the client. Being limited to one company is not an option when purchasing life insurance due to the fact life insurance is not a one size fits all type of insurance product. Independent agents normally use a life insurance quoting engine 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 that usually is not even competitive. 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 by far 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. The independent life insurance agents are usually life insurance specialists and 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.

The carriers the brokers utilize will usually have much lower premiums than the carriers the captive agents are bound to use.

Last but not least the captive agent’s carriers cannot compete with the much lower premium structure offered by the independent agent’s life insurance carriers that specialize just in life insurance. Do to the high volume of policies these companies have on the books, they can afford to have the lowest premium across the board. Many of these life insurance companies have been in business for well over 100 years. Take a moment to read our blog post for the Top 12 life insurance companies. Feel free to contact us 7 days a week for the best term life insurance quotes and information with no obligation. Thank you very much for reading this article. I hope it has shown you the advantages of purchasing your life insurance from the life insurance specialists, the independent agents and brokers.

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About the author

Jack Venturi

Jack Venturi is the owner of and is a licensed Insurance Broker with more than 25 years experience specializing in all forms of life insurance products. You may learn more about him at

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