Trying to find insurance products and the company that is right for you can be a challenge. That is why there are insurance agents and brokers. What is the difference between the two?
Agent:
Agents are great if you know the specific product you want.
An insurance agent has knowledge and access to products offered by the insurance company for whom they work. They are loyal to the provider. Therefore, the pricing is often fixed, and there is little room for negotiation.
Broker:
Traditionally, people think of mortgage brokers who provide home and auto coverage. However, some also handle life, liability, disability, and illness coverage.
An insurance broker has knowledge and access to products offered by multiple insurance companies. They can compare pricing and obtain basic quotes. They develop relationships with the provider and are loyal to the client. Therefore, the pricing is often competitive, and the broker can negotiate on a client’s behalf.
The value of having a broker is that they market for suitable solutions and support the client through the process.
Simplified Financial is a life, disability, and illness coverage brokerage. One of our primary goals is to seek the products that fit your needs and budget. We have developed strong relationships with representatives of some of the top insurance companies in BC and Alberta to offer you the best options.
We ask questions to determine the best product for your situation. We are also available when questions or situations arise that require a more hands-on approach. We assist in navigating the complex wording within policies. We understand that sometimes you need the support and helping hand from an experienced professional.
We are here to simplify. Give us a call and speak with one of our knowledgeable advisors.
Have a question? Or want clarification?
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