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The Advantage of Independent Life Insurance Brokers April 20, 2017

Independent life insurance brokers provide an extremely valuable service to both families and business owners across this province. When it comes to purchasing life and health insurance, consumers have many options.

If you are like most people, the price is the single determining factor when purchasing your life insurance program. But should that really be the sole determining factor to protect your income and your family's welfare? Being aware of the different rates offered in the market is important.

Also having a clear understanding of the underwriting requirements, future options, claim history and credibility of the insurance company you select are important considerations when purchasing your life insurance program. An independent life insurance broker that you trust can be very helpful in this process. You can also navigate to to get more info about life insurance.

The main difference between an independent broker and a captive representative is the independent works for the client and not the carrier. Independent brokers sole purpose is to find the best insurance for you, whereas many other agents have to sell insurance products mandated from their head office.

Although a captive representative and an independent broker share the common goal of providing you with income protection in the form of life insurance, only a licensed independent life insurance broker can provide you with a variety of choices from many different providers. Because independent brokers do not have an exclusive relationship with any one insurance company, they are able to offer you a wide range of products from multiple sources.

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Life Insurance – Learn From an Old Agent April 4, 2017

Life Insurance is an insurance product that pays at the death of the insured. It really should be called "Death Insurance," but people don't like that name. But it ensures the death of an individual. Actually, what is insured is the economic loss that would occur at the death of the person insured.

Those economic losses take a lot of different forms, such as:

– the income stream of either "breadwinner" in a family 

– the loss of services to the family of a stay-at-home-mom 

– the final expenses at the death of a child 

– final expenses of an individual after an illness and medical treatment. You can also navigate to get more info about life insurance.

– "Keyman" coverage, which insures the owner or valuable employee of a business against the economic loss the business would suffer at their death 

– estate planning insurance, where a person is insured to pay estate taxes at death 

– "Buy and Sell Agreements," in which life insurance is purchased to fund a business transaction at the untimely death of parties in the transaction 

– Accidental death insurance, in which a person buys a policy that pays in case they die due to an accident 

– Mortgage life insurance, in which the borrower buys a policy that pays off the mortgage at death – and much more.

Life insurance has been around for hundreds of years, and in some cases, has become a much better product. From these tables and other information, the insurance companies derive the cost of the insurance policy.

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