Planning for your future

Getting Life Insurance

All life insurance policies are like a gamble between you and the insurance company. The company agrees to reimburse you for the cost of your losses, may it be the loss of your house in a calamity, loss of your health or simply the premature loss of your life.

The Insurance company, however, is betting that you will be safe, healthy and pay more in premiums than the company will pay in benefits. Most of the time, the company is right. You, on the other hand, would be hoping that it won’t be.

So how do I buy Life Insurance?

Most people use insurance agents, financial planners, accountants and others sources. You can buy insurance directly from the insurance company, however without proper time for research and knowing underwritings, this can get complicated.

” I was told to make sure that my insurance agent is independent, is that true?”

Definitely! Independent agents also called brokers can sell insurance from any of many different insurance companies and are supposed to get you the best possible deal and high approval rate.

The other side of the coin is a Captive agent, a person employed by a particular insurance company authorized to sell ONLY the policies of that company.

So why use Captive Agents?

People who use captive agents are those who just walk into an insurance company and don’t know better, assuming that because the company is reputable they will get a good deal.

You want an independent agent who’s free to offer you every policy issued by every insurer. The way to a good deal is comparison shopping. A captive agent CAN’T help you there.

Tips and guidelines when buying Insurance:

  1. Compare Policies. Don’t compare only cost; compare resources and services too.
  2. Read every word of the policy, what it covers and what it does not.
  3. Review your policies each year and make sure that they are still what you need.

The Premiums you pay and deductibles that you agree to, buy you the peace of mind that comes knowing that you and your assets will be protected whatever happens.

Martin Insurance LLC