Finding an Insurance Agent
Insurance is based on the principle of paying money now for financial protection in the future, so it is not surprising that the insurance industry attracts more than its share of swindlers.
So beware of so-called low-cost insurance and to be alert to any other questionable insurance scheme. Comparison shopping is wise, and it often saves money.
Before buying any insurance you should check company's record and financial standing consulting insurance rating guides at a library or a bookstore or on the Internet.
These can provide the information about, whether the company is financially secure or not.
Has it been in business successfully for many years?
Is it known for handling claims quickly and amicably?
Doing all the work on your own seems hectic?
An insurance agent can do it all for you.
An insurance agent is normally committed to a particular insurance company.
A broker, or independent agent, may consult various companies to find the best insurance available for a given price. Both need to maintain a good relationship with clients in order to keep their business. When an insurance agent is trustworthy and concerned, he can be of great aid to his clients. He can help you, to make decisions about insurance, like:
First, a good agent or broker can help a client to select appropriate coverage from the seemingly endless list of insurance options.
He will also explain the details of the policy to his client. As many well know, insurance policies are notoriously complicated.
An agent's explanation can help the client to avoid unpleasant surprises.
The agent can also become his client's advocate with the insurance company in case the client has difficulty obtaining a settlement.
Some of the questions that you need to ask yourself before selecting an agent are:
Is the agent licensed to sell life insurance? Ask the agent to show the Identity card / License.
Is the agent an independent agent or an employee of a corporate agency / direct broker? If it is an independent agent, ascertain how long he / she has been in business and ask for customer referrals.
In case of a corporate agency / direct broker, check which company does he represent and the credentials of the company that is represented.
Remember that a broker represents the customer, while the corporate agent represents the insurer. Hence a broker may be able to give you a choice of products across insurance companies, while a corporate agent or an individual agent is paid to sell the products of the insurance company that he/she represents.
What are the qualifications of the agent?
Though IRDA prescribes that an agent needs to only have passed the XIIth standard examination, in many cases, the agent is professionally qualified and hence could provide better advice and service to you.
The important thing is to assess if the person you are meeting is a well-qualified individual who can give you sound advice.
Be careful about dealing with agents who offer to pay a part of your premium or otherwise offer you a rebate on the value of the policy you purchase. Besides being illegal, any agent who agrees to forgo a part of his commission is not likely to provide you with good advice and / or service over a period of time.
News block
| 03/10/2010 04:01 PM |
| Contractors 'divert Somalia aid' |
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Up to half the food aid in Somalia is routinely diverted to corrupt contractors and militants, a leaked UN report says.
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| 03/10/2010 06:10 PM |
| Greeks stage fresh general strike |
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Thousands of Greek workers are expected to bring the country to a halt with a second strike in a month over austerity measures.
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| 03/10/2010 05:01 PM |
| Mexican shakes up world rich list |
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Mexican Carlos Slim overtakes Bill Gates as the world's richest man, according to the Forbes "rich list", with a fortune of $53.5bn.
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| 03/10/2010 07:00 PM |
| DR Congo mines 'hit by extortion' |
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Former rebels in DR Congo, now in the army, are running mafia-style extortion rackets in mines, campaigners say.
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| 03/10/2010 04:06 PM |
| Scientists to review climate body |
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The UN secretary general asks the world's leading science academies to review the UN's climate science body.
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| 03/10/2010 02:17 PM |
| Haiti situation 'dire', Obama says |
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Barack Obama warns that the crisis in quake-hit Haiti is not over, as he meets the country's President, Rene Preval.
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| 03/10/2010 12:29 PM |
| Israel under pressure over homes |
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Israel comes under growing international pressure following its approval of new building in occupied East Jerusalem.
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| 03/10/2010 12:15 PM |
| Berezovsky wins poison libel case |
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Businessman Boris Berezovsky wins his libel case over claims he was behind the murder of former Russian agent Alexander Litvinenko.
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| 03/10/2010 04:55 PM |
| Google to scan old Italian books |
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Italy signs a deal with Google to put online the contents of its two national libraries, including works by Dante and Galileo.
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| 03/10/2010 04:05 PM |
| Israel supermarket uses parody film of Dubai assassins in advert |
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An Israeli supermarket chain uses spoof surveillance footage, parodying that of the alleged assassins of a Hamas commander in Dubai, in a TV advert.
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| 03/10/2010 10:14 AM |
| Baby elephant shocks Sydney zoo with 'miracle' survival |
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An elephant in a Sydney zoo shocks vets by giving birth to a live baby elephant who appears to have survived labour in a coma in the womb.
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| 03/10/2010 03:35 PM |
| Classy Man Utd crush sorry Milan |
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Wayne Rooney scores twice in another irresistible display as Manchester United beat Milan 4-0 on the night and 7-2 on aggregate to ease into the Champions League quarter-finals.
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| 03/10/2010 03:41 PM |
| Real crash out of Champions League |
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Lyon draw 1-1 in the Bernebau to earn a 2-1 aggregate win over Real Madrid.
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| 03/09/2010 06:24 AM |
| Can US broker Middle East peace? |
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Joe Biden is in the region to encourage talks between the Palestinians and Israel. What can be achieved?
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| 09/29/2009 06:16 AM |
| BBC World News |
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| 03/10/2010 06:18 PM |
| Powered pedal |
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Beijing's silent invasion of electric bicycles
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| 03/10/2010 02:37 PM |
| Afghan anxieties |
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Why the UK fears politics and force are out of synch
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| 01/20/2010 04:36 AM |
| Earth Watch |
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Will review of UN climate change body be unbiased?
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| 03/10/2010 04:27 AM |
| Fighting the tide |
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Church authority at risk as scandals spread in Europe
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| 03/10/2010 05:38 AM |
| Jumbo job |
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It's a big task, but how do you recycle a plane?
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| 03/10/2010 09:09 AM |
| Tough task |
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Challenges ahead for new president in quake-hit Chile
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| 03/10/2010 05:38 PM |
| US reports record budget deficit |
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The US government records a budget deficit of $221bn (£147.6bn) in February - the largest monthly deficit in its history.
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| 03/10/2010 04:38 PM |
| BA strike talks end without deal |
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Talks between British Airways and Unite aimed at averting strike action by cabin crew break down without agreement.
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| 03/10/2010 06:07 PM |
| UK snow insurance claims at £650m |
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Insurers paid out £650m from 335,000 claims made as a result of damage caused by the wintry weather in the UK.
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| 03/10/2010 10:57 AM |
| Internet up for Nobel Peace Prize |
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The internet is among a record 237 individuals and organisations nominated for this year's Nobel Peace Prize.
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| 03/10/2010 06:53 AM |
| Mobile phone allows boss to snoop |
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Mobile technology that could allow prying bosses to monitor every movement of their staff is developed in Japan.
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| 03/10/2010 05:19 AM |
| Facebook calls for 'iconic games' |
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Facebook calls on game designers to make an iconic title, such as Mario or Halo, specifically for the social network.
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| 03/10/2010 08:44 AM |
| Lost Boys actor Haim dies aged 38 |
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Lost Boys actor Corey Haim dies at the age of 38, the Los Angeles coroner's office confirms.
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| 03/10/2010 04:19 AM |
| Academy defends Fawcett snub |
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Actress Farrah Fawcett was not in the Oscars memorial segment because she was more known as a TV star, the Academy says.
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| 03/10/2010 02:57 PM |
| EU to back bluefin tuna trade ban |
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EU nations decide to support a ban on international trade in Atlantic bluefin tuna until stocks recover.
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| 03/09/2010 07:26 PM |
| Ring may be giant 'impact crater' |
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Deforestation has revealed what could be a giant impact crater in Central Africa, according to Italian scientists.
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| 03/10/2010 07:08 PM |
| GPs 'lax' on cholesterol targets |
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Many lives could be saved if GPs followed guidelines for reducing cholesterol in those at high risk of heart disease, a study suggests.
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| 03/10/2010 11:49 AM |
| Nigeria charges over Jos killings |
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Police say 49 people are to be charged with murder following communal violence that left scores of Nigerian villagers dead.
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| 03/10/2010 09:24 AM |
| ANC seeks Winnie Mandela answers |
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South Africa's ANC asks Winnie Mandela to clarify a media report in which she apparently fiercely criticised ex-husband Nelson.
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| 03/10/2010 04:43 AM |
| Insurers 'face $7bn Chile bill' |
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The earthquake in Chile may cost the global insurance industry as much as $7bn (£4.7bn), Swiss Re estimates.
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| 03/10/2010 11:19 AM |
| Biden steps up pressure on Israel |
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The US vice-president renews criticism of Israel over an East Jerusalem building project and calls for bold steps for peace.
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| 03/10/2010 07:07 AM |
| 'Bali bomber' killed in Indonesia |
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Indonesia's President Yudhoyono confirms security forces killed Bali bomb suspect Dulmatin in raids in Jakarta on Tuesday.
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| 03/10/2010 02:36 AM |
| China's exports see big increase |
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China's exports surged 46% in February, figures show, raising hopes of a strong recovery in global trade.
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| 03/10/2010 04:11 AM |
| Ashton sets out diplomatic vision |
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The EU's foreign policy chief, Lady Ashton, tells MEPs how she will shape Europe's new diplomatic service, as officials vie for influence.
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| 03/10/2010 05:48 AM |
| EU leader 'pities' UKIP's Farage |
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EU president Herman Van Rompuy says he pities Nigel Farage, the British Eurosceptic MEP who called him a "damp rag".
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| 03/10/2010 04:34 AM |
| Egypt's top cleric dies aged 81 |
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Egypt's top Muslim cleric has died suddenly in Saudi Arabia at the age of 81.
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| 03/10/2010 07:33 AM |
| Iran attacks US over Afghanistan |
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Iranian President says it is the US, not Tehran, that is playing a "double game" in Afghanistan.
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| 03/10/2010 12:17 PM |
| Pakistan attack kills aid workers |
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Militants attack the office of a Western aid agency, killing six people and wounding others, the agency and police say.
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| 03/10/2010 01:56 AM |
| Pakistan bans for Yousuf and Younus |
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The Pakistan Cricket Board issues indefinite bans to former captains Mohammad Yousuf and Younus Khan for "infighting".
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| 03/10/2010 05:15 PM |
| Labour MP facing expenses probe |
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Labour MP Harry Cohen is being investigated by the police over his expenses claims, the BBC understands.
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| 03/10/2010 12:59 PM |
| Pakistan kidnap father returns to UK |
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The father of a British boy kidnapped in Pakistan returns to the UK against the wishes of the country's police, the BBC learns.
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| 03/10/2010 02:01 PM |
| Ex-chief warns over defence funds |
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Ministers will have to cut back all but the most essential projects to meet a funding shortfall, a former defence chief warns.
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| 03/10/2010 04:06 PM |
| Tories allege plan to cut police |
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The Tories allege ministers plan to cut the number of uniformed officers despite a pledge to protect front line police.
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| 03/10/2010 07:09 PM |
| Fire College 'failed fire safety' |
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The UK Fire Service College failed to comply with fire safety laws when part of its own premises burnt down, the BBC learns.
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| 03/10/2010 06:01 PM |
| Schools offered gang trouble tips |
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Schools in England are being issued with new guidance on how to spot signs that children are involved with gangs.
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