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Insider Scoop- Ever Wonder What Kind of Life Insurance Your Agent Really Has?

by Scott G on January 3, 2017 · 2 comments

Insider- What Type of Life Insurance Does My Agent Really Have?

What Type of Life Insurance Does My Agent Really Have in 2017?

When someone gives you advice or a recommendation and they are considered an “expert”, it’s only human nature to wonder if they follow or heed that same advice.  Well, today I will pull back the curtain and extinguish the curiosity that many life insurance shoppers and policy holders want to know, “So Mr. or Mrs. Agent, what type of life insurance do you have on yourself?”

Agent Ownership

According to the 2013 National Underwriter Life Insurance Study, 68 percent of life insurance agents own at least two types of life insurance products.  While the survey didn’t break down the particular types, we can assume the majority had the combination of a term life policy with a smaller universal or whole life insurance as subsequent policy.  This is a smart insurance strategy as term life insurance is the least expensive and will provide one with the most amount of life insurance at the lowest price.  At the time when the term policy expires, a smaller permanent policy will be there in place to take care of final expenses or the outstanding debt obligations that are still present but substantially less than when one is younger.

Term Life is the Favorite

Term life insurance led the way as the preferred policy agents purchase to protect their own families, followed by whole life and then universal life insurance to round out the top three.

Wrap Up

Now you know which type of life insurance the majority of agents really purchase for themselves in order to protect their own families.  So beware of agents who preach to only buy whole life insurance.  Many of these agents are following the do as I say not as I do maxim.  Now you’re in the know…


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    *Data from the National Underwriter Research Team

    Theertha October 22, 2013 at 12:12 pm

    Thumbs Up. Thanks for this Valuable Information to know the exact reason.

    I wanna to say one more thing, Really Awesome Blog.

    I will be addict to your blog for reading future article.


    Scott October 22, 2013 at 4:34 pm

    Thanks Theertha!

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