How to Find a Good Insurance Broker
[social_share]The number of life insurance providers and the process needed to choose a reputable one need not be confusing or intimidating. With a few simple tips, buyers can initiate their searches as painlessly as possible while gaining enough information to take their queries to the next level. Below is a run-down of how to find a good insurance broker.
- Family and friends. There is perhaps no better recommendation than one received by family, friends and other trusted loved ones. Few suggestions can be as helpful to an individual as life insurance, something which can help provide for their family in the event of their death. People will not always volunteer their suggestions so when someone is conducting their search for a trustworthy life insurance company, it makes sense to sit down with family and friends and ask questions about the firms they have used and which ones they would recommend. While the buyer might not ultimately choose from one of their loved ones’ suggestions, they should at least give their experiences serious consideration and investigated. This is especially true if the person giving the reference has been using their brokerage firm for an extended period of time.
- NIBA (National Insurance Brokers Association). The National Insurance Brokers Association of Australia (NIBA) is Australia’s premiere trade association for licensed life insurance brokers. It is a not for profit that does not sell products. Nor does it side with any one insurance company or broker. Rather, the NIBA provides a measure of credibility for brokers and firms in the insurance industry. This allows consumers to be able to check whether a firm has subjected themselves to the Association’s guidelines and is willing to provide excellent consumer protection and service. For anyone on the market for a reputable life insurance agency or quality broker, they would do well to look into the National Insurance Brokers Association to ensure that their potential firm or representative is a member.
- Online reviews. Short of talking with family and friends and comparing potential life insurance brokers against the register at the NIBA, the next step the buyer should take is to thoroughly investigate online reviews of a given provider. While online reviews do not carry as much weight as a personal reference from a loved one, the sheer abundance of reviews on a broker or agency can help to make up for it. If the overwhelming majority of reviewers have had less than pleasant experiences with a life insurance company, the buyer should take that as a sign that they are better off looking elsewhere. Conversely, if most of the reviews are positive, then the buyer can take that as a good reason to move forward with the brokerage in question. If the reviews are muddled somewhere in the middle, however, the buyer is better off letting other factors come to bear on their final decision. Also, the quality of the reviews is an important aspect of online evaluation. Simplified one or two-sentence reviews will never be sufficiently insightful and should be eschewed for more informative opinions.
