The Value of Working with an Insurance Broker When Purchasing Life Insurance

If you’re considering purchasing life insurance, then you’re best advised to work with a trustworthy insurance broker with a proven track record of satisfied clients.

Especially if you’re a member of the Millennial generation, you’re probably used to doing all of your research yourself online before purchasing a product or service. Thanks to social media, as well as user reviews and ratings, it’s easy to supplement the seller’s information with (usually) genuine feedback from consumers who share many of the same needs as you.

However, purchasing life insurance is a bit different from most services. Objectively speaking, you’re insuring the monetary value of your life in order to provide your loved ones with a financial buffer in the event you become incapacitated or pass away. But exactly what type of life insurance you need, as well as how much you need, depends on a number of factors, such as:

  • Your age, gender, overall health, and family medical history
  • Whether you engage in high-risk activities such as rock climbing or skydiving
  • Your driving record
  • Whether you want life insurance for a specific term or until you die

These are just some of the factors that need to be taken into account when deciding on the best life insurance policy for you. So that’s already a significant amount of complicated information to navigate.

However, the complications don’t stop there. There are numerous life insurance companies out there, and all of them have their own specific policies with their own specific terms. Some are more advantageous for people who have a chronic disease—and who’d pay much higher premiums with another company. Other companies offer better rates for healthy people with a high-risk lifestyle. Yet others are more beneficial for people with life-long dependents.

The question is, how will you know which company offers you the best deal?

In all honesty, you probably won’t be able to figure that out on your own. There are simply too many insurance carriers and too many options to compare. And that’s where a life insurance broker can make all the difference. A life insurance broker represents you, not any specific life insurance company. But he or she is familiar with all of the insurance companies’ various products. That means he or she will be able to advise you on the best type of policy for your situation, as well as which company will offer you the best deal. Your broker will obtain free quotes for you and help you compare them to ensure you’re getting the coverage you need for a premium you can afford.

In short, if it’s time for you to purchase life insurance, do the smart thing and go with a life insurance broker. It will save you time, energy, and in most cases, a lot of money.


Liberty Financial Group