GARYANDLANA

Did you know there are publications that have been created to serve the needs of every agent and broker? Check out this month’s issue, which features articles on how to build your insurance business with boat and yacht insurance. You can read about the upcoming highlights for April’s issue as well.

Marketing yourself and deciding how to advertise your business can be a daunting task. There are so many avenues available to brokers. Insurance is something everyone needs from infant to ancient. Life, auto, home, health and disability are just a few. How is a broker supposed to get the word out that he is in business? Everyone familiar with sales knows the phrase ‘circle of influence’ or your ‘warm market’. Check out other brokers and their websites, advertising efforts and community involvement. Try and think back to the first time you purchased insurance from a broker. Share your wealth of knowledge with them and they will remain loyal customers for all their insurance requirements.

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Accidents, injuries, and old age can deprive you of physical health.  If you’re just starting to think about insurance coverage, it can all seem a little confusing. There are so many different types of insurance available, and an even bigger variety in the types of policies you can get.  The biggest challenge in finding the right insurance policy can be in figuring out what you really need.

A few types of insurance are required by law – if you own a car, for example, the law requires you to have auto insurance. Many other types of insurance, such as life, renters, and travel insurance, are optional. Two common types of insurance are health insurance and home insurance.

Shopping around for insurance is much the same as any other type of shopping.  First, it’s good to consider whether or not the insurance policy meets your needs.  What risks, items, and events does it cover? For example, if you insure your home contents, are you covered if you leave the house unlocked?

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Insurance involves transferring a risk that you bare, onto an insurance company, so that you no longer have to worry about the event occurring. So what is the risk that you are transferring with life insurance? The insurance company will then pay out to the named beneficiary once the event occurs, and this is usually a family member or business associate of the insured.

The thing that insurance companies will be looking for is insurable interest. The insurance policy will have two important details defined right at the outset. The first is who is to be paid out under the policy. While this seems obvious, it is important to think carefully about it as, unlike in most insurance contracts, the purchaser of the policy is rarely the beneficiary under a life insurance policy.

When considering purchasing life insurance, it is very important that you get to know as much as you can about the company you are planning to purchase from, about the policy you plan to purchase, and the rate at which you plan to purchase the policy. Knowing as much information as you can will help you make the best decision when it comes to life insurance policies. Tools like a life insurance calculator and information from an insurance agent or the insurance company will definitely help in your decision making process.

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