Yes! Using a life insurance broker to help you with quotes and advice is a is a smart idea. There are a number of reasons why. They include:
1. A broker helps guide you through the life insurance quotes process.
2. A broker helps you understand all the products and what they will deliver for you at claim time.
3. A broker helps you to assess how much cover you need and will provide quotes for all of the different options.
This is much quicker than shopping around on your own and more impartial than going to your bank who will only be able to offer one option.
Help With The Detail…Quotes & Applications
Your life insurance broker will help you to complete application forms and will manage the quote application process, working with your chosen insurance provider to make sure that all the information they need to underwrite your application is received and reviewed in a timely manner.
Using a life insurance broker gives you more control and choice as to who provides the valuable insurance protection for you and your family. Your broker really comes into play if the insurance company decides that they are not able to offer standard terms and will apply a loading (this is where the premiums increase due to increased perceived risk) or decides to apply an exclusion for a certain medical condition or injury.
Your broker will negotiate any terms on your behalf and if the result is not satisfactory they will approach other providers who may be able to offer better terms.
Your Life Insurance Contact
Once your life insurance policy is in place your broker will be your ‘go to’ person if you have any questions or need any changes made to your policy and will get in touch with you to review your policy annually.
Your policy will work best for you if it is up to date with benefit amounts, correct ownership and premiums paid. When you need to make a claim your broker should be your first port of call.
They will collect the appropriate claim forms for you, help to fill them out and will liaise with the insurance company to get the claim assessed as quickly as possible.
Other Benefits
Often there are built in benefits with life insurance policies that you may not be aware of for example: bereavement support benefit which releases an immediate lump sum on the death of a life assured and special events increase benefits which allows you to increase your cover with no underwriting in certain circumstances.
It all starts with the life insurance quotes process. We provide a fast and independent service that offers free help with various life insurance quotes from all of the major insurance companies in NZ. Give us a try.
Life Insurance: More Tax to Pay?
