While industry changes led to an increased number of digital brokers, the rise of the COVID-19 pandemic saw an increase in the number of people who use these digital brokerages to purchase their life insurance.
In general, digital brokerages have become increasingly popular in the last few years, and it’s easy to understand why. Such companies are known for self-service quoting, a fast turnaround, and instant access to members’ details online. For the busy professional, who is worried about protecting their growing family, the ease of using a digital brokerage is appealing.ings.
But faster and easier doesn’t mean better or more comprehensive at all. And in our experience, we’ve seen how these types of quick insurance fixes don’t quite fit the unique needs of individual families and young couples. Below, we compiled what we think you should know before buying an insurance policy that works for you and your family.
Know What Type Of Policy You Need
When you work with a professional brokerage, we can help you determine what type of insurance would work best for you in your unique situation. We are not going to try to squeeze you into a one-size-fits all insurance plan.
A good broker will be able to glean specific information from you in order to fully understand which insurance type and plan would work best for you in a way that an online form cannot replicate. For example, have you considered term life insurance with a 10 or 20 year policy? It is possible that this type of plan would work best for you in your situation. What about critical illness or disability insurance? Would either of those policies work for you? An insurance broker will be able to ask you the right questions and more importantly, will know the right answers that will work for you and your family. Unfortunately, online quotes are not customizable to your specific situation.
Know Your Broker
When you purchase life insurance, critical illness or disability insurance, you are protecting yourself and your family financially from an event or illness that could occur at some point in the future. Very rarely, however, are you thinking about the details of such an event or how soon it may occur.
When you purchase a life insurance policy digitally, you have missed out on an important personal step of knowing the broker who is selling you the policy. When a triggering event happens, you or your spouse may have to call a 1-800 number and struggle with a representative on the phone, who doesn’t know you personally or your situation.
On the other hand, if you know the broker you are buying a policy from, you know you have a friendly person in your corner, fighting for the best for you. We, at Dickson Insurance, are a part of your community and know our clients on a personal level. We strive to go that extra mile to assist our clients when they need it the most in a way that the representative on the other side of that 1-800 call just can’t.
Know Your Worth
This extends beyond what your salary is or what your assets are. But of course, that is important too. You should understand how much insurance is right for your specific situation. A good insurance brokerage will be able to help calculate how much insurance would work for you and how long it needs to be in place for.
But knowing your worth also means taking the time to do what’s best for you and your family. Talking with an insurance broker in person or in an online meeting will ensure you are getting the right coverage for your specific situation. This may take a bit more effort than answering a form on a website, but it is a critical step to create a stable financial future for you and your family.
Know Your Health
Do you know how your current health conditions could impact your insurability? We do. We also understand the frustration some people feel when they find out that a certain health condition makes them more difficult to insure. If you have been declined because of a health condition or higher body weight, for example, we know how discouraging that can be. At Dickson Insurance, we also have solutions that can help.
Let Us Help
Properly insuring your family and your loved ones can seem like a daunting task, but don’t let it intimidate you. We are here to help you protect what you love. Contact us to learn more about how we can help you!