Term Life Insurance Articles
The Dangers In Considering A Term Life Broker Or Agent A Friend
2010-12-09
A term life agent can often be a very friendly and outgoing individual and, in many cases, can be a fixture in the community. A great term life agent or broker will be well-regarded by not only those who have purchased insurance from them but, all of those in the community as they will be as much a contributing part of the neighborhood as any other business. These kinds of agents are becoming more rare, but are extremely beneficial for a family to have when it comes to managing their term life insurance quotes and questions. However, as much as a term life agent may be wonderful, sensitive and caring, there are dangers for any client that chooses to consider their term life agent a friend rather than a business associate.
The first problem that can occur when a client considers an agent or broker a friend is the stress put on the relationship if term life insurance quotes increase. This can be for a number of reasons - from social unrest to the company shoring up their bottom line or choosing to offer less auspicious deals to their agents. When this increase happens, many clients feel that their "friend" should have warned them or should be able to mitigate the increase that they see in their own policy. In many cases, this is not possible, and consumers can get into a situation where they are demanding prices and services that the agent simply cannot provide. It is imperative to look at any agent/client relationship as just that - any friendship that may develop must be kept out of the process of finding life insurance quotes.
A second problem that may arise is if a client does something they should not - such as letting a term life insurance policy lapse. If this occurs, the rates to re-instate the policy may be very high due to the age or a medical condition suffered by the insured. This can anger clients, who although responsible for their own actions, may choose to blame their agent or broker for not properly warning them about the consequences of letting their insurance policy lapse. Along the same lines are those brokers who see clients as friends and are offended when they choose to look elsewhere for their quotes. Term life insurance is about the best plan for an individual, not about strengthening relationships between client and agent.
Great business relationships between agents and clients are possible, so long as both remember that it is the policy and its price they are evaluating, not each other. Keeping friendship out of the mix can be beneficial for both agent and client.
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A term life agent can often be a very friendly and outgoing individual and, in many cases, can be a fixture in the community. A great term life agent or broker will be well-regarded by not only those who have purchased insurance from them but, all of those in the community as they will be as much a contributing part of the neighborhood as any other business. These kinds of agents are becoming more rare, but are extremely beneficial for a family to have when it comes to managing their term life insurance quotes and questions. However, as much as a term life agent may be wonderful, sensitive and caring, there are dangers for any client that chooses to consider their term life agent a friend rather than a business associate.
The first problem that can occur when a client considers an agent or broker a friend is the stress put on the relationship if term life insurance quotes increase. This can be for a number of reasons - from social unrest to the company shoring up their bottom line or choosing to offer less auspicious deals to their agents. When this increase happens, many clients feel that their "friend" should have warned them or should be able to mitigate the increase that they see in their own policy. In many cases, this is not possible, and consumers can get into a situation where they are demanding prices and services that the agent simply cannot provide. It is imperative to look at any agent/client relationship as just that - any friendship that may develop must be kept out of the process of finding life insurance quotes.
A second problem that may arise is if a client does something they should not - such as letting a term life insurance policy lapse. If this occurs, the rates to re-instate the policy may be very high due to the age or a medical condition suffered by the insured. This can anger clients, who although responsible for their own actions, may choose to blame their agent or broker for not properly warning them about the consequences of letting their insurance policy lapse. Along the same lines are those brokers who see clients as friends and are offended when they choose to look elsewhere for their quotes. Term life insurance is about the best plan for an individual, not about strengthening relationships between client and agent.
Great business relationships between agents and clients are possible, so long as both remember that it is the policy and its price they are evaluating, not each other. Keeping friendship out of the mix can be beneficial for both agent and client.
