Many insurance plans in Australia are only accessible by brokers or advisers. The reason behind this is that life insurance providers sell more nuanced policies through brokers. Why? Because these financial advisers are responsible for educating their clients and ensuring that the coverage is appropriate for them.
"Insurance brokers or advisers don't work for insurance providers in particular. Instead, their responsibility is to collect quotations and other pertinent information to provide professional financial guidance on the policy's details. They'll then recommend which ones are appropriate for your needs and situation." says senior accountant Max Liane of Accountants Brisbane.
Many Australians have life insurance in their super fund. However, according to a new Finder survey, out of 1,500 Australian superannuation members, almost one-fifth of them were unaware that their super fund covers life insurance.
Therefore, wouldn't it be best if you engage a broker or adviser to guide and educate you on having Insurance for your super fund?
If you have second thoughts, read on the following advantages of working with a broker to help you decide.
Brokers Can Cost You Less Than Insuring Direct
Working with an insurance broker can be less expensive than dealing directly with an insurer. This is because these professionals are familiar with the insurance industry and the great promise to negotiate competitive rates on your behalf. Furthermore, since insurance brokers have connections with various insurance agencies, they often can work out insurance plans that aren't publicly available.
Brokers Don't Sell Insurance— They Work For You.
A life insurance adviser or broker works with a range of insurance providers. As a result, they are not tied to a single entity and are not under strain to hit revenue targets or thresholds or market one insurance policy over another. A broker's client, on the other hand, is their boss. Thus, a broker's sole goal is to help choose insurance coverage for their client's best interests.
Brokers Have Access To A Broad Product Shelf
A broker has access to a wide range of insurance options and deals for many prominent insurance providers. However, the price isn't the most significant consideration for most brokers when it comes to insurance. Instead, it is a broker's responsibility to be updated with all the functionality and benefits that each insurance provider can deliver for their client's lives, severe disease, or injuries.
Where To Find The Best Broker To Help You Get Covered?
Choosing the best life insurance package can be approached with caution as any of life's most significant decisions. After all, the insurance coverage will support your family in maintaining the comfort you worked so long to have.
If you go the do-it-yourself route or seek guidance from a broker, the decision is always yours. But remember that it's your family's future that's on the line. Hence, working with a professional with a proven track record is the best way to go.
Talk to Jarickson today if you're determined to secure your family, find your peace of mind and a life insurance package that suits your needs.