Shopping for new insurance

[Valor]

Hello Chip.
Regarding questions 1 & 2. Your policies will be fine, nothing will happen to them. Even though you deal with your local agent, ULTIMATELY, you are dealing with SF and they don't want you to go anywhere.

Consequently, whichever agent you choose to have your policies moved to, they want to take care of you and are motivated to do so because they get commissions from the insurance premiums you pay and they don't want that to go away.

Question #3: SF isn't concerned about you moving from one agent to another other than if the agent is doing something that is against SF's rules, standards of conduct or illegal.

You may want to give this potential new SF agent some time to handle your business before you decide to get insurance quotes from other carriers. Please understand, it is possible that this new SF agent will have to pay the "losing agent" (your current agent) 1 year's commissions. If you're thinking about getting ins quotes from other carriers and leaving SF, then I highly recommend that you don't change agents within SF. Start getting your quotes now and then decide to leave SF OR stay with SF, but get a new agent. Otherwise, this new SF agent who is receiving your policies will ultimately be the loser in this situation and he/she had nothing to do with it.

 

[ehall2]

Insurance companies take the position that the insured can choose what agent they want to deal with. The policy stays the same, it's just serviced by a different agent. The agent can't change anything with your life insurance policy. As for as longevity, I hear people say when I can cut their rate in half for the same or better coverage, "but I have been with this company for so long so they will probably treat me better with a claim." Dumb statement. The claims adjuster doesn't know or care how long you have been with the company. If the policy states your claim in covered, they pay. If it states it isn't covered the claim isn't paid. If a company did give someone preferential treatment with a claim and the company was audited by the state insurance department the company could be fined.