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Why should I use a professional insurance
advisor?
Dramatic changes in the insurance
marketplace make the professional insurance advisor's role
increasingly important to individuals and small businesses
in finding cost-saving measures and coverage options. They
provide and service insurance products while educating and
advising you on how to manage risk and make informed
insurance choices. Many career insurance advisors have
completed a sequence of college level courses leading to a
professional designation, such as
- Registered Health Underwriter (RHU),
- Health Insurance Associate (HIA),
- Registered Employee Benefits
Consultant (REBC),
- Certified Employee Benefits
Specialist (CEBS), or
- Chartered Life Underwriter (CLU).
Advisors are highly trained insurance
professionals who will guide you through the complex task of
choosing appropriate coverage at an affordable cost and are
dedicated to serving the long-term interests of consumers.
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How does an advisor get compensated? What
is his/her incentive to give me superior service?
Insurance advisors have strong financial
and professional incentives to give their clients a lifetime
of quality products and service. Advisors seldom are
salaried employees of the insurance companies they
represent. Usually they are independent agents who represent
many companies. Most advisors are compensated on a
commission basis - a percentage of the premiums you pay your
insurance company. Others are compensated on a fee basis
directly from employers. In each case, the advisor's loyalty
and compensation rests with you, the consumer. Regardless of
the method of compensation, advisors have strong incentives
to place consumers with strong, financially stable carriers
and provide superior service on an ongoing basis.
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What should I expect from a professional
insurance advisor, and how can I evaluate my current one?
An advisor will guide you through the
complex task of choosing appropriate coverage at an
affordable cost. The following is what you should expect
from a professional insurance agent. Use this checklist to
evaluate your current advisor. Your professional insurance
advisor should:
- Work with you to evaluate your needs
for insurance coverage.
- Explain the details of different
insurance plans.
- Make specific recommendations and
tailor plans to suit your special needs and budgets.
- Review your plans periodically to
update coverage and limit costs.
- Serve as your advocate and advisor in
dealing with insurance companies, doctors and hospitals,
and government agencies involving claims, services and
regulations.
- Help you as a business owner
communicate benefits packages to employees and
demonstrate how various provisions can complement
personal and government financial plans.
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Should I buy insurance online?
Buying health insurance benefits is
different than buying books and music. Benefits are complex
and they are critically important. Health care coverage
protects both a family's health and its finances. Purchase
the wrong book, and you're out a few dollars. Purchase the
wrong health care coverage, and the consequences are far
more significant. Remember, if you buy health insurance
online, there may be no advisor to explain benefits, no
advocate if problems arise and no counselor to help you make
the right coverage choices.
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How does a professional insurance advisor
stay current with the numerous plans and changes in today's
marketplace?
Insurance advisors are licensed and
regulated by state insurance departments. Prospective
advisors receive training regarding insurance and applicable
laws before taking a qualifying exam for licensing. The
majority of states now require continuing education to
maintain license status. Many career insurance advisors
belong to the National Association of Health Underwriters
(NAHU), which offers seminars, workshops, courses and other
educational forums to ensure members meet the highest
standards of client service. NAHU also requires members to
subscribe to a strict professional code of ethics.
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Have more questions?
Thank you for visiting our Web site.
Please submit questions to IAHU using the following form,
and we will reply to you as soon as possible.
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