Finding the Best Life Insurance Broker: What to Consider

If you want to take care of your loved ones in the event you pass away, you’re going to need to purchase life insurance. An independent life insurance broker can help you find the right policy for your needs.

What Is a Life Insurance Broker?

A life insurance broker is a professional who works with you to find the coverage you need at the right price. Instead of working for one specific life insurance company, they help you assess quotes from multiple life insurers so you can find the deal that works best for you.

The Difference Between a Life Insurance Broker and a Life Insurance Agent

So how are a life insurance agent and a life insurance broker different?

A life insurance broker is an independent professional who isn’t employed by a specific insurance company. That’s why they can help you objectively compare quotes from different insurers.

In contrast, a life insurance agent sells policies from the life insurer or insurers they work for. As a result, they offer fewer choices because they’re only able to offer the rates and policies offered by that specific company (or those companies).

The Value of Working with a Life Insurance Broker

Working with a life insurance broker offers several distinct benefits:

  • They help you determine the type of policy you need. It can be complicated to determine what type of policy you want—term life, whole life, etc.—and how much coverage you need. A life insurance broker evaluates your financial and personal requirements and offers advice on what type of plan best fits those needs.
  • They request quotes from multiple life insurance companies and compare them for you. This saves you a lot of work—plus, you can rest assured a seasoned professional is assessing the various offers for you.
  • They can streamline the application process. You only have to submit your information once, and then the broker will use it to apply for policies from multiple insurers. In contrast, if you apply by yourself, you have to fill out your information for each application you make.
  • They can advise you throughout the application process. You’ll have to submit certain forms and undergo a physical examination to qualify for a life insurance policy. A life insurance broker can help answer any questions you might have along the way and support you throughout the process.
  • A life insurance broker can remain your point of contact. This can be helpful if you’re looking to add riders or increase your coverage in the future.

Contact Us for More Information

At Liberty Financial Group, we work for you—not for the life insurance companies. That’s why we can offer you the best advice regarding the right policy for you. For more information, please contact us today.