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A Life Insurance Brokerage is an office, website or entity where an organization of agents provide quotes and rates from many top companies. Typically, you can get great prices by working with a brokerage firm for life insurance since there are no fees.
They are a great resource for information since they are involved full-time in the business.
A life insurance brokerage is an entity that contracts with multiple life insurance companies in order to sell their products directly to consumers, or to consumers through other agents. In contract to captive agents, who predominately sell for one company, brokers are able to shop many companies to find the best rate for their clients.
President, The Firm of Steven H. Kobrin, LUTCF, 6-05 Saddle River Rd #103, Fair Lawn, NJ 07410
A life insurance brokerage is a business through which multiple life insurance carriers are represented. The brokers that are affiliated with the brokerage are appointed with different companies.
A successful brokerage – one that really gets the job done for the consumer – should have certain characteristics.
First of all, it should specialize in one product line: life insurance. The broker should be a master of his craft. He or she should be an expert in life insurance underwriting, because it is through getting good underwriting that you deliver the best value to your client. Good underwriting can give you the lowest rate/highest cash value accumulation.
If the broker sells multiple products, such as life insurance, and annuities, and disability insurance, and investments, etc., then he really is a jack of all trades and master of none.
Another point is that the brokerage should be run just as any good business is run. You make commitments and you deliver on them. This means that the sales model of the brokerage should be to provide a quote about which they are confident the client will be approved. It is common business sense to quote a reliable price.
Prequalification should therefore be an essential part of the service the brokerage provides. Clients are entitled to know the company, product, and price before submitting a formal application. Then all involved can be sure that going through underwriting will be worthwhile.
A brokerage operation should be designed to make the purchase of life insurance a very satisfying experience for the consumer.
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They are a great resource for information since they are involved full-time in the business.
A successful brokerage – one that really gets the job done for the consumer – should have certain characteristics.
First of all, it should specialize in one product line: life insurance. The broker should be a master of his craft. He or she should be an expert in life insurance underwriting, because it is through getting good underwriting that you deliver the best value to your client. Good underwriting can give you the lowest rate/highest cash value accumulation.
If the broker sells multiple products, such as life insurance, and annuities, and disability insurance, and investments, etc., then he really is a jack of all trades and master of none.
Another point is that the brokerage should be run just as any good business is run. You make commitments and you deliver on them. This means that the sales model of the brokerage should be to provide a quote about which they are confident the client will be approved. It is common business sense to quote a reliable price.
Prequalification should therefore be an essential part of the service the brokerage provides. Clients are entitled to know the company, product, and price before submitting a formal application. Then all involved can be sure that going through underwriting will be worthwhile.
A brokerage operation should be designed to make the purchase of life insurance a very satisfying experience for the consumer.