A good insurance agent is a boon. An agent who keeps your interest ahead of his own is what makes an insurance agent good. It is a known fact that insurance agents work for commissions and money is important to everyone. However, a good insurance agent should not be motivated by commissions and suggest policies which have a higher commission, but should understand your specific insurance needs and suggest a policy accordingly.
But how do you choose the right insurance agent? Primarily, the agent should be a licensed agent approved by IRDAI to sell insurance policies. In this article, we have covered 4 steps to find out the right one.
Step 1: Take a Suggestion
One of the best ways to find an insurance agent is to go by the word of mouth. If someone you trust recommends an agent, chances are that they have had a good experience with him/her. However, make sure the agent is not related to this person.
Moreover, chose an agent who is located nearby. Often it happens, that an insurance agent sells an insurance policy and just disappears into thin air. Later on when you need any service, the agent is not available. Having an agent from the neighbourhood will protect you from facing this issue as well.
It is good to choose an insurance agent who represents multiple insurance companies. This way, you will be able to have a wider choice and thus you can invest in the right one.
Step 2: Interview the Insurance Agent
Before choosing an insurance agent, interview a few to know who is the right one. So what should you ask them? Ask them about details of policies, give them situations and see what they suggest. If you ask the same question to multiple agents, you will be able to tell the difference between one agent and another. Ask for references from agents. A good agent should have multiple satisfied clients. Judge whether the insurance agent is interested in providing you a holistic approach or is simply interested in selling you a policy and earning a commission.
Step 3: Find an insurance Expert
Don’t look for insurance agents, look for experts. What’s the difference? An agent’s job ends at selling the policy to you. An expert on the other hand will guide you on filing a claim, help you with service requests and provide you guidance.
Insurance needs are not fixed. It varies from year to year as you go up the ladder of life. If you have an insurance expert, you will be able to modify your insurance policies as per your changing needs.
Step 4: Check an Agent’s Background
Finally, check the agent’s background before finalizing the one. See if the agent is a licensed agent, find out about his educational background and make the final decision. You will be doing monetary transaction with the insurance agent. Hence, checking background is of utmost importance.
Read our article “Why Agents don’t sell Term insurance policy” for understanding more about Insurance Agent .
Having a good insurance agent is extremely important. So, don’t take this exercise lightly. If the agent is not reliable and is more interested in his own benefit than that of his/her client, then it is the innocent insurance purchaser who will be at a loss at the end of the day. A lot of people get rejections while filing a claim and fall into trouble. Therefore, follow these steps to safeguard yourself and your family.