I’ve been a part of the past and the present in the life insurance business. In the past you might get a card in the mail asking if you wanted a life or health insurance agent to come by and discuss the products with you face to face, across the dinner table. In your house. You know what I mean if I say that you can tell if someone has just cleaned their house and in almost every case, just because I was coming by to discuss life insurance, the house was cleaned. I felt bad for the person having to clean their house, but not bad enough to cancel the appointment.
Back then the client was also at the mercy of luck as to whether their agent knew the products well and how those products and underwriters might match up with any impairment the life insurance client had at all. Back then I can say that, at best, I was pretty generic. I was probably better than most in that I knew my products very well, but average in that I had no clue about health impairments. Back then we were trained more about how to handle the bad news of a price increase due to poor field underwriting, than how to do field underwriting at all.
Today life insurance clients can go out and find their own agent from anywhere in the country and they have the ability to choose an agent that specializes in, or at least has special knowledge of their health condition. The agent can use the best life insurance underwriter from the best company for your particular situation. The chances of that happening 45 years ago was 0. Even with the internet and all of the possibilities now, the chances of finding the right life insurance agent who knows the right underwriter and the right company is only about 5% for most, maybe 10% for those who really do their homework.
Clients can also choose to throw their great opportunity to the wind and use the power of the internet to find mediocrity in large mega agencies like Selectquote. You gain the ability to work with large numbers of companies in most of the states, but lose the chance to work with agents who know more about impairments and work harder to make sure you find the best deal for situation.
So now all the tools are available and you don’t even have to clean your house or OMG, have a stranger come in to your house.. Let me share the secret on how to find that 5%-10%. Do a search on your favorite search engine for your impairment and life insurance, such as Bipolar disorder and life insurance. On the first page throw out all of the responses that just take you to an agency and not a specific article on how to solve your problem. Contact the people and find out if they really know about bipolar or just know how to write about it.
Bottom line. You will know quickly if you’re on the right track. If the agent appears to have some genuine knowledge about your situation and know what questions to ask they could be the one. If they take the time to get answers to those questions and shop it thoroughly, you’re on the right track. If you have questions or want to know if you’re on the right track, call or email me directly. My name is Ed Hinerman. Let’s talk.