After getting licensed, agents have to make the choice between becoming a captive agent or independent agent. What does that mean exactly?
Captive agent: Works for one insurance company, providing only a single carrier option for clients.
Independent agent: Represents a wide variety of carriers, offering multiple options for clients.
As seniors approach retirement, their needs become more complex. Considerations like life insurance, financial planning, Medicare, and long-term care all become more crucial. These concerns should be discussed with a skilled professional like an insurance agent.
Why should seniors work with an independent insurance agent?
1. Choose from a wide range of carriers
One of the top benefits of working with an independent agent is the vast assortment of insurance carriers they have to choose from since they are not tied down to just a single option. No two insurance companies are alike, and one might be a better fit for a client over another. Captive agents are very limited in this respect, only having the resources of a sole carrier.
2. Get the best price
Finding the most cost effective solution is a top priority for seniors, especially as retirement nears. Since every client is unique in their need for insurance or other products, it only makes sense to shop multiple companies to find the right price.
Independent agents often have dozens of choices, so it’s not difficult to find affordable coverage for their clients.
3. Enjoy personalized service
Unlike agents that work for a single company, independent agents work for their clients and have more versatility in their offerings. An independent agent is able to get quotes from many different carriers as opposed to just one, providing their clients with an array of choices.
Independent agents can help their clients understand the coverage and protection they need based on where they are in life — whether that’s preparing for the future, getting the best coverage for their health, or investing for retirement.
4. Experience a better claims process
Often with larger insurance carriers, automated systems are used to streamline their customer service and claims process. For most clients, this can be extremely frustrating when trying to navigate a claim. Independent agents are able to better facilitate a smooth claims process and are available to answer questions every step of the way.
5. Have a one-stop shop
Because independent agents work with so many different carriers, they are able to offer variety in what products they offer since companies can vary with products and services. Compared to captive agents, independent agents offer so much more value to their clients in this respect.
6. Work with an expert
Independent agents work with a diverse group of clients who all have various needs. They’ve seen it all, and aren’t just limited to a few products. Seniors need professionals who can understand the intricate needs that come with retirement and planning for their later years. There’s no better expert than an independent insurance agent!
Interested in becoming an agent with Aspen Insurance Coaches? Enjoy all the perks of being an independent insurance agent plus personalized training and support. We provide agents with the tools and resources they need to be successful and progress in their careers.
Contact us today to find out more!
