5 Must-Have Qualities of a Good Insurance Agent
If you’re planning to buy an annuity, working with an agent is one of the ways to do so. Ideally, agents will help you secure the right type of annuity for your financial situation. However, there are some who can persuade you to spend more money than you should. That’s why it’s imperative to be on guard as you seek their assistance in making such a major purchase.
To help you find the right agent, here are characteristics that you should look for.
1. Genuine Concern for Clients
An insurance agent’s task is to market insurance policies and other financial products such as annuities. Though it is their goal to make a sale, their top priority should be to help their clients. Work with an agent who is keener on helping you make the right purchase than insisting on a particular option just so they can make a deal, earn a higher commission, and gain incentives.
2. Provides Good Customer Service
A good insurance agent should be able to provide good customer service, which entails demonstrating respect and tact when dealing with the client at all times, providing unbiased answers to your questions before, during, and after the purchasing process, being available when you reach them, giving prompt responses, and being always on-time during meetings.
3. A Good Listener
Part of an agent’s job is to discuss the products that he or she is selling. However, they are not the only one who should do the talking. You know that you’re working with a good agent when he or she knows when to stop the sales pitch and listen to what you have to say as a client—your needs, financial situation, goals, and feelings toward purchasing an annuity—and ultimately use all these things in helping you purchase the best product.
As a consumer, you need to clearly understand what you’re going to purchase. However, reading through a contract may mean going through insurance language that can be hard to understand. Good insurance agents are knowledgeable enough to explain to you the ins and outs of the products and to answer any question that you may have about how a particular annuity contract works. In addition, a good insurance agent should be abreast and updated on the latest industry news and trends.
As a client, it is your right to ask for an agent’s credentials. Agents need to be licensed in order to sell or market annuities in your state. Make sure that your working with someone who’s carrying a license to sell the different types of annuities that he or she is offering.
The decision to include annuities in your financial plan is a good step. However it entails a process. Agents can be instrumental in that. If you’re planning to work with one, make sure that he or she has the five characteristics mentioned.
Meanwhile, you can also seek the services of other professionals such as financial advisors to help you make smarter decisions during the buying process.