Points to Consider While Selecting a Suitable Life Insurance Agent

Life Insurances 232 views

With tremendous competition in the insurance industry, it would not be wrong to say that the competition among the life insurance agents in order to secure the maximum number of clients has also accelerated. Well, it is a universal truth that life insurance agents generally work on the basis of their commissions. Hence, the bigger deals they crack for the company, the higher incentive they get. However, it is very much true that these insurance agents get lucrative incentives for selling the insurance plans, but it is not necessary that almost every agent will mis-sell his product.

In fact, you also need to exercise the caution on your end, and give some efforts in judging the credibility of your agent. For your reference, below are the some pointers that will help you to find a suitable agent who would  not dupe you.

Make Sure Your Agent Has a License

When it comes to a certified life insurance agent, he has a license from the Insurance Regulatory and Development Authority of India (IRDA) so as to prove that he is an adequately qualified individual that will help you in choosing a right insurance policy so as to fulfill your needs. Moreover, being certified also proves that he is a certified agent that has undergone a training. In fact, you also need to ensure that your agent is not working with other insurance providers simultaneously. Also, give you attention to check both the license as well as the identity card of the agent.

Take Heed of Word of Mouth

Well, one of the best ways to zero in on an insurance agent is to get in touch with those people who have already worked with the agent, and have had a great experience. Whenever, you think of buying a new insurance plan, it would be advisable for you to have a word with your parents, friends and colleagues to get their feedback on this.

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Well, it is important for you to know that the job of your insurance agent does not end by simply assisting you to purchase a life insurance policy. In fact, your agent is also responsible to help you in claiming the insurance, when you need it the most. So, it is important to choose a truthworthy insurance agent.

Talk to the Agent before Finalising

Once you are done with the selection of the agent, it is important for you to take a final decision with the help of informing your agent first as he is the one who will guide you in buying the perfect insurance policy. It is the best way to know how much interest he is taking to know your requirement when it comes to buying a new life insurance policy.

It is important that he enquires about the number of family you have, and come up to you with an insurance plan accordingly. Well, offering you a perfect policy should be the last as well as final leg of your discussion with him. If you feel like the agent is pushing you to buy a policy which does not well suited for your family, its better not to give in. Yes, because there are plans through which these agents earn more money, hence are more likely to push you towards those plans.

Check the Agent’s Work Experience

It would be great, if your agent has had some experience when it comes to providing the life insurance policies. It would be of great help for you when your agent can guide you with his in-depth knowledge about the market. He should tell you about the different plans, and among them which one will give you the maximum benefits. In fact, their sound knowledge about the investment market is also of great help, especially when you are not aware about the market.

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Make Sure Your Agent is Cooperative

Once you are done with the verification of all the requirements of your agent, you also need to make sure that he should has a helpful attitude and always give you the proper guidance when you need it. Well, as said earlier, you will need to revert to the agent, when you want to make the claims for your insurance policy. So, it would be great, if he is having a cooperative and understanding attitude.

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