Life Insurance & Investing Center

Are We In The Need Of Affordable Term Life Insurance? June 25, 2009

Devastating factors prevail in life insurance. Some insurance companies are merely offshoot companies of several profit earning companies who churn huge life insurance rates. They use the money of unsuspecting policy holders for their own benefit and earn profits cleverly. Once their motive is fulfilled they ‘please’ policy holders with pittance of that amount which goes to them.
My minute observation of some insurance companies on their operations came into my notice when I had thorough observation of them. While I observed these insurance companies and their representatives many revelations came before me. This way my pessimistic approach too changed dramatically.
This indistinct observation is not my own only. Countless people encounter such experiences. They observe that many insurance agents are concerned to their huge commissions and earn profit from the hard earned money of prospective insurance holders. They don’t bother about the benefit of people who invest money to run their companies.
It is the juncture when irrigating salesman annoy you. Their only motive is to sell any of the products out of many which they show in their meetings including cheap life insurance rates. They wouldn’t give you chance to decide what your exact need is.
But then again, this is just a case of one rotten egg spoiling the whole basket.  I would like to think that these pushy salesmen who are only after your money and not your welfare are just few and far in between.
My intention is that each insurance agent or underwriter must do their work honestly and serve costumers by providing them better service and satisfaction. As they are already trained professionals they should prove those etiquettes with humane approach while dealing with every costumer.
These people are trained professionals hence they must have authenticity and expertise in their area so that others who are laymen can rely on their ideas and believe whatever they say. This will only be possible when they work honestly. Furthermore these professionals must not misuse their knowledge and should always be bound to the professional ethics required in professionalism.
In total these insurance underwriters or agents must offer best advantage to costumers. The case usually becomes opposite when costumers are forced to invest their hard earned money as premiums and at the end they don’t get benefited as per their expectations. This happens because people are ignorant of insurance and the agents get benefited from their ignorance.
Those opting affordable term life insurance and term life insurance rates mustn’t be treated step-motherly because their investment is low. They should be appreciated by the insurance agents for proving strength to buy insurance even though their condition is not better. Such weak people must get special attention.
Among such roles and responsibilities include:
•    To carefully discuss and analyze the insurance needs of his client and suggest insurance products which adequately provide such coverage and are economically feasible for the client.  Giving the client a premium he can manage would help in lessening insurance termination or lapse insurance policies.
•    To give advice which he is competent to give and refrain from overstating his competence.  This would require the agent to accept things he know and decline things he has no knowledge of.
•    To inform his client that the coverage becomes effective only when the insurance company has approved the application and the initial premium is paid.
•    To act reasonably and without delay in submitting an application for life insurance.
•    The agent should also refrain from verbally assuring the client that coverage is effective until agent has received proper assurance that the policy is in effect.
•    To advise his client, without delay, if the latter’s application for coverage has been turned down.
•    The agent should also continually discuss and evaluate the insurance needs of his client and to suggest changes in coverage which meet those needs.
•    And to service his client’s insurance coverage and needs to the fullest extent possible.

Once an agent or underwriter starts practicing the above mentioned characteristics they will no more be denied by anyone. Their expertise and professionalism will be respected firmly by everybody.