Top Five Things To Look For When Hiring A Life Insurance Advisor

Author: Kelvin Chong & Associates | | Categories: Life Insurance , Mortgage Life Insurance , Risk Management

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A life insurance advisor or agent is an industry professional specializing in recommending life insurance products and solutions, acting as an intermediary between insurance companies and clients, handling policy renewals, and tracking insurance claims. 

The purpose for seeking a life insurance product or solution is to hedge against the financial risks associated with premature death, a life-changing event impacting your health or the possibility of outliving your resources.

Contrary to popular belief, life insurance products are not always simple and there are no one size fits all solutions. It is in your best interest to employ a life insurance professional who will help you navigate through the life insurance process, that being product selection, implementation and service. Based on your specific situation, they can help you build the right insurance portfolio to meet your financial needs.

When looking for life insurance brokers and agents, here’s a list of the top five things to consider: 

1. Credibility
In the past, the financial services industry, and in particular the field of life insurance, has had a less than stellar reputation due to some unscrupulous individuals who mishandled their client’s insurance portfolios. While often unintentional, this mistake has had a devastating effect on the insurance industry’s credibility and image in general. It is crucial to make sure you choose your advisor carefully by looking at their track record, how long they’ve been in the industry, along with adequate research into their relationships with their clients. 

2. Knowledge 
A widely believed misconception is that life insurance is a simple product, and anyone can be a part of the industry. However, life insurance products can be extraordinarily complex and multifaceted. A competent insurance professional will have the ability to convey an insurance strategy or idea, no matter how complex, in a simple and understandable format, ensuring you choose the best insurance plan to suit your situation.  

3. Integrity
In our ever-changing financial industry, some life insurance companies may offer better compensation and incentives to insurance brokers than others. Finding a life insurance agent with your best interest at heart regardless of compensation is undoubtedly an attribute that should be sought after and continuously valued. A life insurance brokerage that always puts your interests first will result in your receiving quality advice. 

4. Professionalism
Regardless of the profession in question, professionalism is a highly-essential and necessary skill. When talking about investment, insurance, and saving for our future, professionalism becomes even more critical. Professional insurance practices involve collecting all relevant data, determining clients’ needs, presenting them options, implementing those changes, and concentrating on serving you throughout the process.  

5. Consistent service
The role of an advisor does not come to an abrupt end once the insurance contract takes effect. Servicing should be an integral and on-going part of the insurance process. Life is full of changes. We switch jobs, make additions to our families, receive occasional windfalls of income such as inheritance, etc. Periodic reviews are essential in ensuring that as your life changes, those changes reflect in your insurance portfolio.

If you’re looking for the leading life insurance brokers and agents in Ottawa, Ontario, reach out to Kelvin Chong & Associates. We deliver insurance-based solutions to reduce financial risk determined by your current and future circumstances. During a consultation, your needs are analyzed, your situation is summarized, and we recommend the best insurance solutions available today. Our services include insurance audits, life insurance, no medical and simplified issue insurance, living benefits, critical illness insurance, disability insurance, long term care insurance, health and dental insurance, travel insurance, etc. We offer insurance products and solutions across the Ottawa, Gatineau Region, and the surrounding areas.

To learn more about the services we offer, please click here. To get in touch with us, please click here. 



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