Life Insurance: if you see it on TV, you’re paying for the ad
Wow. I just got a quote for an engineer who previously carried term insurance through IEEE’s program with NY Life. My broker found A+ rated coverage for the same terms at 50% of the price. That’s incredible. If you think you’re getting a great deal via group rates, I may be able to help you find twice as good a deal.
The caveat? You may not be familiar with the brand name of your new insurer. It will be an A+ rated company (A.M. Best’s ratings), but these companies don’t advertise on TV.
If you look at the financial strength of these A+ insurers, it’s stronger than the companies you see on TV. My conclusion? That’s how they save you money. (Plus they don’t have commission salespeople in every neighborhood.)
Note: I am not licensed to sell insurance. I am not an insurance salesman. I get no commissions. I help my clients find insurance. This is one service I provide as a part of financial advice for a fee.
Mike Dayoub is a fee-only planner in Alpharetta/Milton and a tax preparer at H&R Block. 770 361-3139 website
