I received an email from a client last year asking me to contact his investment advisor. My client’s investment advisor had referred him to another life insurance agent, but the rates he received were not the same as the rates I quoted him. Below is an excerpt from the email (I was copied on the email).
“Tim, Greg Sanders is the agent I have been using and his rates seem a little better than Tony’s….Greg has been very responsive and professional in my dealings with him…..always good to have options …
The term “laddering” is commonly used with reference to financial products such as CDs, but it can also be used with life insurance. Simply put, laddering is a strategy employed to have more than one financial product “expire” or mature at different dates to benefit the owner. With respect to CDs, this concept protects against reinvesting a large amount of money in a poor financial climate. This concept has been applied to life insurance since the need for life insurance tends to diminish over time as debts are paid off and assets grow in value.
Generally speaking, people are comfortable shopping online for most items. The Internet is a great tool for gathering information and advice prior to making a purchase — and this especially holds true for life insurance. There are numerous sites online that provide instant quotes and solid, basic information about life insurance. Some sites are more “salesy” than others, but it doesn’t take long to sift out those sites and focus on the ones that are professional and helpful.
The popular mega-sites have call centers that make it very easy to ask questions and apply for coverage.