All Life Insurance Tips

What is the right insurance company for life insurance and how do you pick the right agent.?

I live in Charlotte NC , have 2 young children and know I need some more life insurance just not sure how to find the 'right' company and a good agent.

Public Comments

1. You want to choose a company that can help you reach your goals and dreams. It will analyze your financial situation and find ways to make it better. If someone starts talking to you about life insurance that builds savings or cash value, move on to the next company. The only life insurance you need is term life insurance.
2. You can locate a LOCAL agent, by typing your zip code into www.iiaba.net. You'll have to figure out if they're good or not, yourself. Or, you can ask friends and family and coworkers, for a referral to a good agent. Don't bother shopping based on company name - MOST great life insurance companies, you've probably never heard of. Most don't advertise. ANY A rated company, admitted to sell insurance in your state, will be fine. It's more about, what KIND of life insurance you buy. To make sure you do NOT get oversold, you need to strictly define EXACTLY what you want that life insurance to accomplish for you. Then you shop based on the PRODUCT, and the PRICING, among A rated (or better) life insurance companies.
3. Asking for referrals from friends and family is always a good place to start. Typically, your friends won't refer you to someone whom they don't trust themselves. From there, you really have go with your own gut instincts on who you trust or not. If you're not comfortable, then keep searching. A good agent will be interested in forming a personal relationship with you, and they should stay involved with your insurance situation throughout your life. Insurance, especially life insurance, isn't transactional. Your life changes every so often, right? Then why shouldn't your insurance do the same? It just baffles me when I sit down with clients who tell me that they haven't seen their agent in 15 years, and that the policy they were "sold" then, may not be doing anything to help them achieve their financial goals now. It really pays to take some time to learn about this stuff for yourself. Don't listen to anyone who tells you to only "buy term" or only "buy whole life." There are a multitude of products out there for everyone's financial situation, and an agent that's only pushing one thing may not be looking at the whole picture. I find that most people do well with a combination of both, and again, a good agent isn't going to be pushy, but you have to go with someone you trust. Going for a company with good ratings is always good, too. As mbrcatz said, many of the higher-rated companies aren't the flashiest, but the high rating reflects their ability to pay claims. Hopefully you can find a good agent in your area that you feel comfortable with. Feel free to contact me if you have any questions. I am not licensed in North Carolina, so I really have no ulterior motive to sell anyone anything. I just want to be able to help people out, and help them to understand insurance a little better since it's unfortunate that a lot of people have gotten some bad advice somewhere down the road.
4. Over here we are not supposed to put advertising. However, the insurance I have has a deal providing for the self-payment after many years. After so many years, it pays for itself. Also, they provide a loan which is effective in about two days. I you need fast money, call the agent, in two days you have the check. You pay the loan at your convenience. Also, they have a system that your total policy keeps rising and you can choose to withdraw the extra amount if you want to.I wish I coult tell you the name.
5. Check with a local independent agent (that can sell multiple companies). Avoid internet engines as most are lead generators as that will drive you crazy with telemarketers and e-mail. An independent agent should be able to offer you a great selection. Referrals from friends and family are great if you can get them. Individual companies are rated by AM Best for financial stability. However financial stability is only one part of the equation. Price, service and convenience are other factors. I would ask the agent about the process of getting the policy. Some companies are just a hassle. When you ask for a quote be sure to be as accurate in the information you share as possible. Different companies will rate your medical underwriting factors differently so its best to have the most accurate quotes prior to underwriting so there should be less sway from the policy your are initially quoted and the policy you are ultimately offered. Good luck!