It is not out of the ordinary for insurance agents to get a bad reputation. Some Americans think agents take advantage of their clients. This is most certainly not the case for independent insurance agencies! Our goal is to provide the best coverage possible for an affordable price. To prove this to clients, it is important that we, as agents, pass along money-saving advice and tips as often as we can. Whether a client is looking to save on workers’ compensation or life insurance, there are always risk-reducing tips to pass along.
For now, let’s focus on life insurance. As insurance agents, it is our responsibility to educate our clients on what will and will not increase their premiums. Here are a few pieces of information you should be passing along to your clients in regards to snagging a low life insurance premium:
- Let your client know that term life is a cheaper option than whole life. Make sure you go over the pros and cons of each and let the client choose from there.
- Encourage smokers to quit smoking for a lower life insurance premium. Once they have been smoke-free for one full year, then their premium may be lowered.
- Let the client know that their overall health is a HUGE factor when determining a life insurance premium. This means the client should stay healthy by staying active, eating well, and visiting their doctor at least once a year to keep up with changes in health.
- Encourage your client to purchase life insurance as early as possible. Even those who are in their mid-twenties and single should consider this policy. The healthier and younger the individual is, the lower the premium may be.
- Keep high-risk activities to a minimum. Those who sky-dive, rock climb, and bungee-jump on a regular basis will dish out a lot more money than someone who prefers low-risk activities. By offering this type of advice and encouraging a better lifestyle, the relationship between you and the client is bound to grow and get stronger over time. These clients want to be treated fairly and want to see an effort on your part in order to have that happen. Once you establish a solid relationship with your clients and prove to them that you are there to help, you are both sure to breathe a sigh of relief!
About the Author: Bob Mucci is the VP of Massachusetts-based Wolpert Insurance. As a leading local insurance agency, Wolpert Insurance specializes in providing Massachusetts insurance consumers with reliable commercial trucking insurance, moving and storage coverage, livery insurance, garage insurance and effective risk management solutions.