The Roles of a Life Insurance Agent
A life insurance agent, or “producers” (as they are sometimes referred to) are individuals that sell life insurance products to the public. These agents work to help individuals, families and businesses to find the most appropriate insurance policies that will give them the protection and coverage that is best suited for their needs.
Education and Licensing
A life insurance agent must be familiar with the many products that are offered by insurance providers, and be able to select amongst them the most appropriate for their client. That is why anyone selling life insurance in Canada must be licensed. These licenses are governed by each province, and will differ accordingly.
More an advisor than a salesperson, an agent is there to guide you. For example, say someone was looking for coverage during the years they were raising their family. An insurance agent may suggest term life insurance as this type of life insurance is designed to provide coverage for a set amount of time. In this case – while you have dependents. But, if the client were looking for a way to supplement their income when they retire, whole life insurance may be a better option. These are the types of things insurance agents discuss with you, and work to get you the best available coverage.
“Captive” vs. “Independent”
The two types of agents are captive agents and independent insurance agents (or brokers). The difference being is that a captive agent works solely for one insurance company, and sells exclusively for them. An independent agent represents several companies, which gives them many more options in finding a plan that will fit your needs best. The insurance industry has seen a rather dramatic shift as consumers have moved to the internet to connect them with life insurance agents. Instead of agents actively marketing and building clientele, the vast majority of people are now finding agents through the internet. LifeCover.ca is among the best options for finding an insurance agent, as we have a network of qualified insurance agents across Canada who understand the needs of this educated consumer. We’ll find you the best life insurance quotes in no time.
An Educated Consumer
Unfortunately other sites that advertise instant quotes aren’t so forthcoming that these quotes are often inaccurate as the premiums you pay are anything but standardized. There are many factors that an insurance provider takes into consideration before issuing coverage and determining these premiums. The best way to get an accurate quote is by discussing your needs with a certified professional.
Get a life insurance quote today.