How to Find a Life Insurance Advisor (2024)
Need info on how to find a life insurance advisor? A reputable life insurance advisor can help you choose between a $100k term policy and a $500k whole life insurance plan. Monthly insurance policy rates range from $11 to $2k/mo. An agent can help you build an affordable, customized life insurance plan.
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Justin Wright
Licensed Insurance Agent
Justin Wright has been a licensed insurance broker for over 9 years. After graduating from Southeastern Seminary with a Masters in Philosophy, Justin started his career as a professor, teaching Philosophy and Ethics. Later, Justin obtained both his Property & Casualty license and his Life and Health license and began working for State Farm and Allstate. In 2020, Justin began working as an i...
Licensed Insurance Agent
UPDATED: Jul 8, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Jul 8, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Buying the perfect life insurance policy can be difficult, and you may wonder how life insurance works. Fortunately, you can find a life insurance advisor to assist you as you filter through your options to determine which works best.
You can find a life insurance advisor online, but it’s important to consider your options for how to find a life insurance advisor before choosing an agent.
Reputable life insurance advisors will have credentials like an advisor license and should not have many complaints from past or current life insurance policyholders. Meet with multiple life insurance advisors to find the one that best suits your needs.
The Role of a Life Insurance Advisor
Life insurance advisors specialize in assisting potential policyholders with the subtle details of life insurance policies. If you wonder whether life insurance is worth it or not, an agent can help you make that decision.
Whether you’re an informed client or don’t know much about your life insurance options, a credible life insurance advisor can help you find the best life insurance companies for yourself and your beneficiaries.
Life insurance advisors can also help you determine whether you can buy life insurance for someone else in your family.
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Tips for Finding a Reputable Life Insurance Advisor
You may feel overwhelmed when choosing the right life insurance advisor for your unique needs. Fortunately, there are a few things you can consider to ensure you find the best agent in your area:
- Referrals: Ask family members and friends if they have a life insurance advisor they recommend.
- Types of agents: Captive life insurance agents represent one company, while independent life insurance agents represent multiple companies. Determine which agent would be most helpful for your needs.
- Experience: Ideally, you should look for an agent who has been in the business for at least three to five years.
- Expertise: Find an agent that’s familiar with your situation and can recommend options and coverages that would meet your needs.
- Credentials: You should only consider life insurance agents with a license to practice in your state.
- Complaints: Research any advisor you’re considering to ensure they do not have numerous customer complaints online.
Finding a life insurance advisor does not have to be difficult, but you should take your time to ensure you find the best option.
Understanding Life Insurance Advisor Credentials
When reviewing a life insurance agent’s credentials, there are two options for licensing to become an independent insurance agent: professional and rogue.
Professional designations for a life insurance advisor typically include education and testing. Professional designations — like one with Chartered Life Underwriter (CLU) — typically indicate the individual takes life insurance and professional development seriously.
A rogue designation is one that anyone can purchase. Agents with rogue designations need only attend a short seminar or pass a simple online course. In general, it’s better to pursue a life insurance agent with a professional designation.
Questions to Ask a Life Insurance Advisor
When considering a life insurance agent, you may want to ask the following questions:
- Do you represent multiple life insurance companies?
- How do you handle medical issues?
- How do you know what would work best for me?
- How do you stay informed on life insurance topics?
- What is your code of ethics?
The agent’s answers to these questions may help you determine whether they would fit your life insurance needs. However, if an agent does not understand life insurance terms and definitions as they should, it’s a good idea to seek assistance from another individual.
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Things to Consider When Choosing a Life Insurance Advisor
You want to ensure any life insurance agent you consider understands your needs and can recommend the best possible policy for you and your family. For example, you may want to consider life insurance for children if you’re a parent.
You can research life insurance policies to learn more about your options. For example, a term life insurance policy may work best for younger couples or people just starting their life insurance journey.
Term Life Insurance Monthly Rates by Age Coverage Amounts
Age Monthly Rates for $100,000 Policy Monthly Rates for $250,000 Policy Monthly Rates for $500,000 Policy
25 Years Old $11 $13 $21
30 Years Old $11 $14 $22
35 Years Old $11 $14 $22
40 Years Old $12 $17 $26
45 Years Old $14 $21 $34
50 Years Old $18 $29 $50
55 Years Old $23 $39 $70
60 Years Old $32 $61 $87
65 Years Old $44 $92 $178
Term Life Insurance vs. Whole Life Insurance
Term life insurance offers coverage for a specific amount of time. Typical term life insurance policies are available from 10 to 30 years, though some options may differ.
On the other hand, whole life insurance offers coverage throughout a person’s lifetime. In addition, many whole life policies offer a cash value component that policyholders can use if financial needs arise.
Therefore, when you consider how to buy life insurance policies, the monthly or annual rates associated with a term or whole life policy are important.
Term Life vs. Whole Life: Average Monthly Premiums for $100,000 Policies by Age
Age Term Life Policy Whole Life Policy
25 $11 $89
30 $11 $103
35 $11 $121
40 $12 $143
45 $14 $173
50 $18 $213
55 $23 $269
60 $32 $355
65 $44 $475
The cost is one of the most significant differences between term and whole life insurance policies. However, term life insurance is often much less expensive than whole life insurance. If you know you have a specific budget for life insurance coverage, find a life insurance agent to help you get the most for your money.
Case Studies: How to Find a Life Insurance Advisor
Case Study 1: Jennifer’s Customized Policy with the Help of an Advisor
Jennifer, a 40-year-old married woman with two children, was unsure about the type and amount of life insurance coverage she needed. She wanted to protect her family’s financial future but didn’t know where to start.
Jennifer decided to seek the assistance of a life insurance advisor to guide her through the process. The advisor analyzed Jennifer’s financial situation, assessed her needs, and recommended a customized policy that balanced affordability and comprehensive coverage.
Case Study 2: John’s Savings with the Right Advisor
John, a 35-year-old single individual, recognized the importance of having life insurance to protect his loved ones in the event of his untimely passing. However, he had a limited budget and wanted to find an affordable policy.
John consulted a life insurance advisor who helped him navigate through various options and compare quotes from multiple insurance companies. With the advisor’s guidance, John was able to find a cost-effective term life insurance policy that met his coverage needs without straining his finances.
Case Study 3: Sarah’s Peace of Mind through Professional Advice
Sarah, a 50-year-old business owner, had accumulated substantial assets over the years and wanted to ensure that her estate would be protected and passed down to her children. She sought the expertise of a life insurance advisor who specialized in estate planning.
The advisor helped Sarah understand the benefits of whole life insurance and how it could provide her with lifelong coverage and build cash value. With the advisor’s assistance, Sarah created a comprehensive life insurance plan that aligned with her estate planning goals.
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Everything You Need to Know on Finding a Life Insurance Advisor
Sometimes what life insurance companies don’t tell you is how many options you have, but a life insurance advisor can help. As you search “how do I find a life insurance agent?”, you’ll learn which individuals take their jobs more seriously.
Any advisor who refuses to answer questions or has limited knowledge of certain life insurance topics is probably not the best option. Life insurance advisors should have extensive knowledge of life insurance riders and other details.
The cost of life insurance advisors varies, so you should ask specifically about cost and expectations before you move forward with any agent. Start by searching “life insurance advisor near me”. If you don’t find an advisor close by that you like, branch out to consider additional agents.
Frequently Asked Questions
How do I choose a life insurance agent?
Start by asking for referrals from family members and friends or do online research to find a “life insurance advisor near me”.
Do you need an agent to get life insurance?
You can purchase life insurance without an agent in some cases, though most life insurance companies utilize agents’ expertise to help clients with questions or concerns.
Is a life insurance advisor the same as an agent?
Life insurance advisors and agents are the same in that they represent one or more life insurance companies rather than the prospective client.
What’s the difference between a life insurance agent and a life insurance broker?
If you consider a life insurance broker vs. agent, an agent works for one or more life insurance companies, while a broker works primarily for the client.
What documentation should I bring to my first meeting with a life insurance advisor?
Bring financial information and earnings to determine the amount of coverage you’ll need for your policy. You can also bring specific information about family members to determine how to properly set up the beneficiary portion of your policy.
How often should I review my life insurance policy with my advisor?
Review your life insurance policy annually or after any major life changes. Steadily assessing your life insurance policy will help you have peace of mind throughout life’s transitions.
How much does a life insurance advisor charge?
Some advisors charge a flat fee while others charge a percentage of what you’ll pay for your policy. Ask any advisor you’re considering what their expectation is regarding payment.
How do I know if an advisor is trustworthy?
Ask your advisor specific questions, and research online to determine if the advisor has many complaints from previous customers.
What happens if I can no longer afford my life insurance policy?
You may be able to use the cash value of a whole life policy to make payments if you’re unable to do so because of extenuating circumstances. Check with your advisor to learn more about your options.
Do I need my social security number to get life insurance?
You may need to provide your social security number to purchase a life insurance policy. Speak with your advisor to learn if you can purchase a policy without having to provide it.
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
Justin Wright
Licensed Insurance Agent
Justin Wright has been a licensed insurance broker for over 9 years. After graduating from Southeastern Seminary with a Masters in Philosophy, Justin started his career as a professor, teaching Philosophy and Ethics. Later, Justin obtained both his Property & Casualty license and his Life and Health license and began working for State Farm and Allstate. In 2020, Justin began working as an i...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.