Top 10 Reasons to Use a Life insurance Specialist

With the breaking news of CommInsure’s indiscretions, I think we can all agree that an insurance specialist should no longer be viewed as an unnecessary third party. Here are our top 10 reasons why I recommend getting an insurance broker:

1. Less expensive

Recent research has revealed that premiums from direct policies are on average 35% to 50% more expensive than retail insurance (advised policies).

2. Obtain the Best Deal

Brokers can often find you the best deals because they have a thorough understanding of the insurance market and can negotiate premiums on your behalf.

3. Easy and convenient

They’re able to guide and assist you in answering all your questions to help you find the policy that meets your requirements.

4. Broad Knowledge of the product

They have far greater knowledge of the product, feature benefits and exclusions because they review these policies and contracts on a daily basis, as opposed to consumers looking at these policies for the first time or very infrequently.

5. Great at Educating their Customers

Explaining the types of cover available, and the optimal you may want to consider structuring your policy.

6. Provide Technical Advice

Brokers can give you technical advice on your personal requirements, as well as the requirements of any business(s) that may require revenue, including capital protection solutions should a shareholder / key person pass away or become disabled.

7. Cost Effective

You can choose the amount of cover to suit your requirements and budget.

8. Industry Insights

Insurance Brokers are at the forefront of this rapidly changing sector, and will look for policies that will incorporate the latest product and benefit innovations.

9. They act as an Advocate for their Customers

Including during claim stage. Reducing stress and providing comprehensive feedback on the progression of your claim.

10. They Tailor to Suit your Requirements

They can prepare a customised insurance and risk management program for you, where they design the policy, negotiate the terms with insurance companies and place the cover with the insurer.

Review Your Policy Coverage

Small business group health insurance is an important part of your overall financial plan. It is generally advised that you have a knowledgeable third party review your insurance documentation to ensure it still meets your personal requirements and financial objectives.

Events such as marriage, becoming a parent, buying a home, a significant increase or decrease in income can all influence how much financial protection you and your family requires or how you want your estate divided after your death.