Advantages of Choosing an Independent Insurance Agent in [2024] + YouTube Video
The advantages of working with Independent Insurance Agents are much greater than most consumers realize. Independent insurance agents are also known as Insurance Producers, Brokers, Advisors, and Insurance Consultants.
They serve as liaisons between consumers and the insurance companies they intend to apply with.
Even long after the individual has had their policy issued and in force. The independent agent is committed to assisting you with any questions or issues that may arise.
The information you will see below will further explain the description and benefits of independent insurance agents. This goes hand in hand with their role and commitment to serving their clients.
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What Is an Independent Insurance Agent?
An independent agent is a licensed professional who represents multiple insurance companies and offers a wide variety of insurance products to clients.
Unlike captive agents who work for a single insurance company, such as State Farm, independent agents have the flexibility to compare policies from different insurers, allowing them to find the best coverage and rates tailored to their clients’ specific needs.
This approach provides clients with more options and personalized service, ensuring they receive the most suitable insurance solutions. Independent agents do not work for insurance companies like the captive agents do. They, in so many words, work for their clients at no cost or obligation.
Benefits of Working With an Independent Insurance Agent: YouTube Video
Advantages of Choosing an Independent Insurance Agent
When it comes to selecting the right insurance coverage, an independent insurance agent offers several distinct benefits that can make a significant difference in your experience and satisfaction.
1. Personalized Service:
Independent agents will take the time to understand your unique needs and circumstances. They will work closely with you to tailor insurance solutions that fit your specific requirements, ensuring you always get the best coverage possible.
2. Wide Range of Options:
Unlike agents who represent a single insurance company, independent agents have access to a comprehensive choice of insurance providers. This means they can offer you a variety of options and help you compare different policies to find the one that best suits your needs and budget.
3. Expert Advice:
With their extensive knowledge and experience in the insurance industry, independent agents can provide valuable insights and guidance. They can help you navigate through the complexities of insurance policies, making sure you always understand the terms and conditions before making a purchasing decision.
4. Advocacy and Support:
In the event of a claim, an independent agent acts as your personal advocate, working on your behalf to ensure a fair and prompt resolution. They are there to support you throughout the process, providing peace of mind throughout the application process.
5. Long-Term Relationship:
Building a relationship with an independent agent means having a trusted advisor who is committed to your long-term financial well-being. Just as an example, we regularly review your coverage to ensure it continues to meet your evolving needs and offer advice on any necessary adjustments.
Choosing an independent insurance agent can provide you with the flexibility, choice, and personalized attention you deserve, making the process of securing life insurance coverage a very pleasant and effective experience.
What Can My Agent Do if I Have a Health Condition?
One of the most important duties of an independent agent is to help their clients secure life insurance if they have health conditions. Most people as they grow older have health conditions or even multiple health conditions that could create a situation when they get ready to apply.
This is where independent agents come into play with their ability to shop the market for the insurance carrier that would be the most liberal towards an applicant’s medical issues.
Our office is contracted with over 40 of the most competitive carriers that can offer excellent rates to applicants that don’t have a good health history. Carriers such as Prudential offer some of the best life insurance rates for people with health concerns.
Smoking & Tobacco Use
This is where the independent agents can come to the rescue! Tobacco use can trigger a tobacco rate
classification. This will usually increase your premium to a higher level than most health conditions will, so being able to choose from a large group of carriers is essential.
Many people use tobacco, especially smoking cigarettes. Your independent agent, who represents over 40 competitive insurers, can place you with a company that is not as sensitive to tobacco users. Again, it is very important to make sure you apply with the proper life insurance company.
Using one of the carriers that offers good rates to smokers is crucial. This is due to the fact that you could be facing a rate increase of over 200% if you don’t.
The price gap is significant among carriers when it comes to insuring tobacco users. Your agent, with their expertise, can identify companies offering more affordable life insurance rates for smokers.
Performing a Risk Assessment Prior to Applying
All experienced independent agents will run a risk assessment before having their clients apply. This will eliminate any surprises down the road during the application process.
Risk assessments are informal and ask a few questions to identify any health conditions, hazardous occupations or sports that could impact your rates.
This will also help your agent determine which company would be your best choice to apply with. Our goal is to help you accomplish a smooth application process and get approved with the best possible rates.
What Happens if I am Overweight or Obese?
A large portion of Americans are overweight to some degree or another. Independent agents work with people who are overweight or obese on a regular basis. They will normally have an acceptable solution for their clients to follow.
Your agent will use a height and weight build chart that will help them choose the best insurer that is the most liberal when it comes to weight issues.
Captive agents that work with only one carrier lack the resources to choose the best life insurance companies for overweight people.
Applying with the wrong carrier for height and weight issues could lead to very high rates or even being declined. This is another reason to choose an independent insurance agent over captive agents.
Independent Agents vs. Captive Agents
Independent insurance agents and captive insurance agents each offer unique advantages to clients seeking insurance coverage. One of their advantages is to have the flexibility to represent multiple insurance companies. This allows them to provide a wide range of policy options tailored to the specific needs of their clients.
This diversity enables them to compare different products and find the best coverage at the lowest possible cost.
On the other hand, captive insurance agents work exclusively with one insurance company. This allows them to have in-depth knowledge of their company’s products and services, often providing clients with a personalized experience.
Captive agents can also offer insights and expertise specific to their company’s offerings, ensuring that their clients receive comprehensive support and guidance.
Both types of agents play a crucial role in the insurance industry, helping clients navigate the complexities of insurance policies and find solutions that best fit their individual circumstances.
When the smoke clears, independent agents will offer many more advantages to their clients than their captive agent counterparts will.
How Much Do Independent Insurance Agents Charge?
There is absolutely no cost or obligation whatsoever. Your independent insurance agent will assist you every inch of the way free of charge. The insurance carriers compensate the agents for their time.
If you decide not to apply, there is no obligation at all. Your agent will also be there to provide personalized customer service for the lifetime of your policy.
Our office provides this service 7 days a week which even includes holidays. All you have to do is contact us on the phone or send us an email.
Our Final Thoughts
Connect with an independent insurance agent such as ourselves to help you find the right life insurance policy at the lowest
premium. We work with over 40 of the most competitive companies to make sure you get the lowest rates.
Your new policy should also fit your budget without becoming a financial burden. Don’t hesitate to contact us with any questions you may have seven days a week.
Thank you for taking the time to read this blog post!
All the best,
Jack Venturi
Should you have any questions or need assistance, please don’t hesitate to call us at 815-390-7545 for a prompt response.
