Get the Best Quotes from Top Rated Life Insurance Companies

Life insurance protects your family in case of your death, providing a death benefit that can pay off the house, cover college tuition, pay medical and funeral costs, and help the family stay solvent. Because life insurance is so important, you want to make sure you get the best quote from a top rated life insurance company.

Get the Best Quote

To get the best quote on your life insurance, follow these tips:

* Decide what kind of life insurance you want. The two main types of life insurance are term and whole life. Term is less expensive because it's life coverage only - when the insured dies the beneficiary receives the face amount of the policy. Whole life insurance combines life insurance with an investment component. Part of your premium pays for the insurance, while the rest is invested.

* Buy insurance when you're young and in good health, especially if you want term life insurance. As you get older your premium increases.

* Don't use tobacco. If you do use tobacco, quit.

* If the insurance company requires a medical exam, schedule it for morning. Your blood pressure, cholesterol, and stress levels will be better then.

* If possible, apply for your insurance toward the end of a quarter or year, when insurance companies are trying to reach sales quotas.

* Comparison shop. Rates for the same life insurance coverage can vary greatly, so check several companies. The best way to comparison shop is to visit an insurance comparison website where you can get quotes from multiple companies. On the best of these sites, you can chat with insurance professionals online who will answer your questions (see link below).

Choose a top-rated company

Once you have rate quotes from several companies, you want to research the companies so you can choose a top-rated company. The Internet is a great source for investigating the ratings of insurance companies. Two of the better sites to check a company's rating are:

A.M. Best (ambest.com)

A.M. Best rates insurance companies based on their ability to pay claims, their credit rating, and their ability to pay it's debtors and stockholders.

Your State's Department of Insurance

All States have a Department of Insurance website and most list complaints filed against insurance companies. If your state doesn't list complaints, you can go to the California Department of Insurance website - http://www.insurance.ca.gov - to get this information.

Insurance Company Home Office Websites Fight Against Their Captive Insurance Agents

Insurance Company home office websites should be designed to assist inquiring people and insurance company agents. However, regarding their captive insurance agents, these home office websites are not set up right. The insurance company home offices wants the business direct, thereby depriving their own captive insurance agents.

Upon analyzing and reviewing over 200 annuity, health, and Life Insurance Company home office websites, I discovered more than anticipated. I assumed finding a user friendly website detailing the company history and their portfolio of products. Then a section for devoted to captive insurance information. Lastly I thought there were be a form would exist where the visitor could inquire about a product.

MOST HOME OFFICE WEBSITES HAD THIS, BUT WITH A TWIST

The inquiry form was there alright. This inquiry should have been forwarded to the captive insurance agent in the hometown area to immediately follow up on. Almost an ideal agent lead. The perfect opportunity for the insurance company to prove it cares about its representatives future.

Instead on over 40% of the web sites the Insurance Company works against its captive insurance agent base. They collect the necessary information on the prospect and attempt themselves to make a quick online sale. This is truly the case of insurance companies biting the hands that feed them. They are thoughtful enough though to send the local agency this "lead" if they failed in selling the prospect themselves.

LET'S DIG DEEPER, UNDERNEATH THE SURFACE PRESENTED

Now put your sales manager under the microscope. How many times a week does he/she go out with you to assist on closing a sale? Check the responsibilities your sales manager has. Some are allowed to go out on their own appointments to earn commissions to enhance a base salary. It is simple to conclude who would be handed a quality lead. A manager who can make extra commissions will be looking out for number one, himself.

For the first time actually examine the contract you were suppose to read before signing. Check the provision written explaining renewals. Is the insurance company providing lifetime renewals? This means that each year your client pays premiums to keep the policy going, you are rewarded. It is very doubtful you have signed with a company offering this.

The company has put the golden handcuffs on you from 3 to 10 years or even lifetime. This means that if you quit, any renewals immediately cease. Same goes if you switch to another insurance company as a captive insurance agent. All goes to the 1st company. The longer you stay, the tighter the insurance handcuffs get under your skin. This is a well planned defense maneuver the insurance company applies on all agents. Either you remain under slavery, or you fail and surrender future benefits. Renewals yearly become a thicker carrot of addiction.

Income subsidies are a trap allowing you to scrape by with company extra pay if you meet your set monthly quota. This is applied only while you are in your training stages. A true hands on training is very limited, then you are thrown out to survive on commissions (and renewals) only. Once again the company works against you. On a life insurance policy, they may pay you 55% first year commissions. If you were to place a similar policy with an outside carrier you would likely receive at least 65% to 70% commissions.

THE CHANCE TO MAKE YOUR ESCAPE

After around 4.5 years, enough determined agents are convinced they can do better without the assistance the company fails to provide. Going independent or semi-independent to write with any carrier is a route over two thirds of experienced agents take. Half of them become fully independent breaking the barrier of the insurance company to directly compete with them or control them. The are free from the insurance company home office website and all the other factors working against them.

Suddenly seeing your commission rate jump from 55% to 90% is worth letting the insurance company take all your meager renewals. Plus now your renewals may even be lifetime. It is not usual for an agent to keep getting monthly renewal checks for 10 to 20 years. This is despite the agent is no longer producing cases for them, or entered a new occupation.

The choice is yours, let the insurance company control you, or control your own destiny. If you have the selling skills, confidence, and ability to acquire leads, the answer is fairly obvious. Transform from a captive insurance agent into a respected independent producer.