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Life Insurance Secret 3 Agents Cannot Know the Best Life Insurance Quote

Written by Aaron Pinkston, Wed, Dec 02 2009

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It may sound like there are agents out there who think they have the best life insurance quote for you, but they would be lying if they told you they knew for certain. There are two problems with this belief. The first problem is agents do not sell the same insurance. The second problem is that agents are not permitted to make representations about companies they do not represent.

You may be thinking this all sounds like common sense at this point. So how do we get from something that sounds like common sense to today’s life insurance secret? And more importantly, how can you improve your chances of getting the best life insurance quote, online or in person? Let’s start with the beginning.

Problem One

As we discussed in the first Life Insurance Secret, no single agent can sell life insurance from all available companies. There are contractual and legal barriers in place to prevent this from happening.

Because an agent could only know the specifics of the companies they actually represent, they do not know what the entire insurance market looks like. If we’re being honest, we might even admit that some agents find it difficult to keep up with all the life insurance companies they are appointed with.

Problem Two

By being an agent or a broker, you are allowed to make representations about the companies you are appointed with. The other side of this is that making representations about life insurance companies you do not represent is a big no-no.

Saying things like, “XYZ company is no good at this or that,” or “ABC company is overpriced and uncompetitive,” is strictly forbidden if you are not appointed with those companies. An agent’s job to make representations about life insurance companies and it is not allowed without the proper qualifications.

Result

The result of this is that agents do not know which company has the best life insurance quotes. Furthermore, saying a certain company has the “best life insurance rate for you” is not allowed.

There is simply no way for any single agent to know the entire truth about what is available in the life insurance market place. And they make representations about all other companies by making an absolute representation about another company. In other words, by saying one life company has the best life insurance rate, they state that all other insurance companies are not the best – something they simply could not know.

Relevance to you

So now that you know why no agent should ever say they have the “best life insurance quote,” how do you improve your chances of finding that one rate quote that stands above all others?

Well, you need multiple agents, representing multiple perspectives and companies, customizing life insurance quotes for you. Only after you have multiple perspectives, could you be more sure of finding the best life insurance rate.

You can do this the old-fashioned way of calling or meeting with multiple agents. Get one quote after answering the same set of questions each time. A better way is to answer these questions one time and let multiple agents customize rates for you while you relax. I like the second way much better. So when you are looking for the best life insurance quotes, online or in person, it might be best to start right here.


In Life Insurance Secret 1, I uncovered the myth that all agents have the same life insurance policies to sell.

In Life Insurance Secret 2, I unveil that insurance agents do not sell insurance for the same price.