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As I have stated previously, engineers and attorneys are the worst occupations for an insurance to have to deal with-----train engineers are excluded from tis category.
How to Find a Trustworthy Life Insurance Agent
- Thread starter jdrose
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- #23
I meant as a long-term savings vehicle, which I believe WL insurance is certainly capable of fulfilling.
Thanks for the advice. Unfortunately, my potential agents are people I know (read: Friends). But my gut (and independent verification) is telling me to look elsewhere. Hence, the original post.
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Arn, can I ask why? Is it because we actually try to understand the product we're purchasing?
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- 11,996
Engineers have a very specific way of looking at insurance products and you absolutely sounded like one. Plenty of people "actually try to understand the product", but engineers have a special way of looking at it.
If the goal is an investment vehicle, why not get an actual investment product? Whole life can do that and the commissions are great, but there is something to be said for a UL and it's flexibility or the good old "buy term and invest the difference".
If the goal is an investment vehicle, why not get an actual investment product? Whole life can do that and the commissions are great, but there is something to be said for a UL and it's flexibility or the good old "buy term and invest the difference".
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- #26
I have had leads call me out of texas wanting to but but had to say sorry I am only in texas.....but still advised them.....find a state lic agent then send me their recommendations....and will advise for free....and do you know anyone in texas.......
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- #27
I have tried to understand the WL product as much as I can, to the point of conducting hours upon hours of research. Yes, the details matter to me. I can see how this would be difficult on an agent, considering the loads of questions I have been asking to prospective agents. I apologize if that's what makes me the worst occupation for agents to deal with.
For what it's worth, I have every intention of purchasing a permanent insurance product... just understanding it as much as I can before pulling the trigger.
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I am from the Chicagoland area.
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To find an ethical agent, go to Welcome to the National Ethics Association Home Page and look for an agent in your area. This is the National Ethics Bureau, they do an extensive background check on all their members. If an agent has skeletons in there closet they can not be a member. Disclaimer: This does not mean that all agents that are members are the most informed agents and will always choose the best product for you but rather they have a clean record and have not been involved in any unscrupulous activities.
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- #29
Awesome. Thanks!
- 11,996
I think you're taking that a little too much to heart, at least from my perspective. There is absolutely nothing wrong with having loads of questions. Any client with money who is serious about doing something is a good prospect, but the problem I think most of us have is that of the customers we speak with that waste the most amount of our time and never do anything, engineers are right up there.
Details are important and a well informed customer is great if you're working with an experienced independent agent.
One thing that may or may not come up in your research of the different products is to determine the purpose of the insurance. A Maserati is a beautiful machine, but if you're a carpenter looking for a work vehicle an old pickup truck would be a significantly better investment and happens to be much less expensive. The beginning question you should be asked by a good agent is, "what is the insurance for?" If you have a family and young kids and you want to make sure that if something happens to you the house is paid off and the family has enough money to continue to maintain the lifestyle to which they've become accustomed, a term life product is going to give you the most mileage for your dollar. If, in addition to the above, you want to have a product that will provide a permanent policy after that term is up, you may want to consider ING or a similar company that offers a conversion option which would let you roll that policy into a GUL without having to prove insurability. Another nice thing about ING is the endowment ROP product which would give you the option of all of your premiums back or a reduced face paid up policy.
I'm not sure if any of the above is appropriate for your situation, but when I'm working with clients I like to have that type of a discussion and get the product right before we even begin to talk about the companies, let alone my commission rates. That being said, I've been selling insurance for almost 10 years and I'm more motivated by helping the client then trying to make my car payment.
If you want to have a more detailed conversation about what products might make sense for you and why feel free to e-mail me your phone number and I can give you a call. I'm sure there are many folks on here that are also qualified and can help you out as well.
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Personally I think it's a turn off if the front page of an organization like this so blatantly points to the obvious fact that they are a mutual appreciation society:
"Take your business to the next level?
Join the National Ethics Association today."
Simply because they have "no skeletons in their closet" may very well mean that they are honest, but it does not appear that being a member of that organization equates to having the background and experience necessary to provide quality guidance. I also don't think the background check would reveal the type of behavior the original poster is concerned with, but I could be wrong.
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