As people are becoming aware of insurance benefits that lead to accelerating competition in the insurance sector. Now, every life insurance agent wants to increase his number of clients, as they work on a commission basis. Hence, the bigger the life insurance policy is sold, the higher an incentive is earned. Hence, it is mandatory on the client end to check and judge the credibility of a life insurance agent.
Mentioned below are some points before checking the credibility of an insurance agent
Make Sure the Life Insurance Agent Has a License
Every life insurance provider(agent) has a license which is issued by the Insurance Regulatory and Development Authority of India (IRDA) to approve the credibility of an agent. The license certifies that an agent has undergone appropriate and sufficient training. IRDA permits an agent to represent either as life-insurance company or a non-life insurance company at a time. One must check, that your agent is not working simultaneously with both insurance providers and makes sure to check both agent’s license and identity card.
Take Heed of Word of Mouth
Before selecting a life insurance plan, discuss with parents, friends, and colleagues who have worked with a life insurance agent and tries to get their feedback on the role and responsibility of an agent. He must be a trustworthy person because the job of an agent does not end simply by assisting you to buy an insurance policy but assist you at the time of claiming it. It is always advisable to have an agent who has the knowledge and good working experience.
Talk to the Agent before Finalising
One must talk to the agent openly before taking a final decision. It is better to coordinate between the benefits you are seeking from the life insurance policy and the advice which you are getting from an agent. Make sure he has the interest to examine your family needs considering all your constraints in sharp focus. Lastly, selecting an appropriate life insurance plan should be your final decision as per your needs, an agent can only act as an advisor. If the agent is pushing you towards a particular policy, then do not give in. Sometimes they are such policies which benefit the agent and they are likely to earn more profits.
Check the Agent’s Work Experience
It is always better to go for an insurance agent who has better experience in the field of insurance. Most likely, a layman lacks the knowledge of purchasing life insurance. Then he always relies on his agent for a sound knowledge of the market and which plan will provide maximum benefit to him. If an agent has a better work experience then we will understand the need of the insured and will suggest the life insurance policy accordingly.
Make Sure Your Agent is Cooperative
Make sure you have better coordination with an agent and make sure the agent has a helpful attitude and assures to guide you with assistance whenever is needed. As discussed earlier, you will approach the agent when you have to make claims, and an agent showing a cold shoulder will of no help.