What Are the Services of a Life Insurance Broker?

The primary service of a life insurance broker is to sell insurance policies, right? Wrong.

The primary service of a life insurance broker is to be a representative for one or more insurance companies, right? Wrong.

The primary service of a life insurance broker is to help you find the life insurance coverage that is most appropriate for your needs as well as most appropriate for your budget, right? Right! Think of a life insurance broker as a consumer advocate. The fact is, virtually every adult needs life insurance. In most cases, life insurance is even a smart idea for children. (The younger and healthier you are, the more cost-effective your life insurance options will be. Plus, if a child experiences a serious illness or injury in his or her youth, it could be difficult to find coverage as an adult.)

As your advocate, a good life insurance broker can help you analyze the type of protection that your dependents need as well as how much you can afford in premiums. How does a broker help you determine how much protection you need? The answer is: simple math. A broker helps you calculate your expenses by adding up all your major expenses. Life insurance is designed for income replacement (or, as some people regard it, “lifestyle replacement”); your income is most likely the source of money for your home mortgage or your apartment rent…your car payment…credit card payments…food…shelter…plus your children’s college education fund. In addition, you may be planning to designate your life insurance benefit as the source of funds for your medical treatment, hospitalization or hospice care, even your funeral and your burial or cremation. These are all significant expenses. For example, a home mortgage may be one of the most significant expenses in a person’s lifetime; likewise, an education at a four-year college could easily exceed $100,000. And the cost of medical care can be astronomical. Even a funeral and burial or cremation can well in excess of $10,000.

If your income disappeared, could your family continue to afford these expenses? For most families, the answer is no. For some families, losing their primary provider’s income could quickly put them in a position where they cannot afford their mortgage and must leave the home you have worked so hard to provide for them.

Or perhaps your goal with the life insurance coverage you seek is to name your favorite church, mosque, or temple—or your favorite charity—as the beneficiary. This is a very generous and memorable way to show your support of an institution that you greatly respect.

Whatever your intention, the job of life insurance brokers is to help you make sure you get the best policy at the best price. And now, there is a new broker service that does just that. It is a 100% free, 100% unbiased system that enables you to get quotes from many different insurance companies, all at one time, all in one place, all in just seconds. You can talk with a live broker if you need. But you will find the online system remarkably easy. See for yourself just how helpful the services of an online broker such as LifeInsuranceBroker.us can be!