Buying life insurance usually starts with trying to determine how much and what type you should buy. You will probably need some help making those decisions, so following is some insight on how to choose an agent who can help you make a smart life insurance buying decision.
All life insurance agents are required to be licensed by the state where they intend to make sales and to take continuing education courses. Agents selling variable life or variable universal life insurance must also have a Series 6 and a Series 63 license due to the investment nature of those products.
One common way to choose an agent is to ask a trusted friend or relative for a referral to an agent. The agent you are referred to may have earned one or more of the following professional designations:
- Chartered Life Underwriter (CLU)
- Chartered Financial Consultant (ChFC)
- Certified Financial Planner (CFP™)
- Life Underwriting Training Council Fellow (LUTCF)
Let’s take a look at the two broad categories of agents:
For many years, your choice was limited to the following home service agents who would visit you at your home or office or ask you to go to his/her office.