Choosing the right life insurance agent is an important first step in making sure you have the right person by your side as you enter the world of insurance. Treat the search for a life insurance agent as you would for a doctor or lawyer: seek different opinions and don’t settle for someone you don’t feel comfortable with.
There are two main types of insurance agents: independent insurance agents who represent multiple insurance companies and professional insurance agents who work exclusively for a single insurance company.
Once you know what type of life insurance you need, do your best to find an agent who specializes in that type of policy.
Ask friends and family about their life insurance agents.
Find out why your friends and family work with your specific agents and what types of coverages they have. What has been your experience with your agent? Did the agent understand your wants and needs? Have you had any problems dealing with the insurance company? Ask about the rates they pay.
Contact your state insurance department
Each state offers different types of insurance licenses. Therefore, your state insurance department can provide unbiased answers to common questions. They can also recommend a reputable insurance company.
I asked for.
Find out if the agent you’re considering focuses on local clients or operates across the country. Ask if he is independent and how many companies he represents. What are your areas of expertise? How long have you been in business? Make sure the agent understands your situation and your finances. He or she should work with you to find the best solution.
Ask for a quote.
Before you engage with a life insurance agent, ask for a quote for the cost of your specific coverage. Remember that simply asking for a quote does not commit you to working with that agent.
If you have questions about your budget, the financial stability of your insurance provider, or the details of your plan, don’t hesitate to ask. A professional insurance agent will give you the answers you need and won’t pressure you into buying insurance you don’t need.
If you’re concerned about finding a reliable life insurance agent or a life insurance policy you can afford. Don’t hesitate to contact a Lincoln Heritage Life Insurance Company representative. Our agents specialize in final expense insurance. Can help you find the right policy for you that meets your needs.
Definition and main advantages of credit insurance
Credit insurance, regulated by article 69 of Law 50/1980 on Insurance Contracts, is one whose purpose is to guarantee the collection by a person, whether legal (company) or natural (self-employed), of the credits , collection obligations, that you have in your favor when your debtor cannot meet his payment commitments due to insolvency.
Its objective, therefore, is this protection against the commercial risk of non-payment due to insolvency, but, derived from this coverage, many more advantages are achieved:
- Identify your clients, current and potential, by their level of financial risk.
- Improve the solvency of the company.
- Raise your credit level and financing capacity.
- In the case of export operations, have a greater knowledge of other markets, often more complex or difficult to obtain information.
How does credit insurance work?
To understand how credit insurance works, you have to take into account the main objective offered by credit insurance: to protect your client’s solvency, over and above the also important compensation in case of non-payment. To do this, the first step is the study and classification of the company’s or professional’s clients. This analysis reflects different levels of risk and thus what operations can be covered and what is their maximum amount and conditions.
Thanks to this analysis, not only is it possible to limit the risk of non-payment. It also allows the company to have very valuable information to extend its operations to other markets and companies, and diversify its business. Once the policy is issued, the premium or price of which will be determined by the risk and amount of the operations it covers, commercial operations can be formalized, with the certainty that the credit insurance will be activated. If there are collection problems.