Right from understanding customers' insurance needs to offering the most comprehensive insurance solutions comprises the most significant function of an Insurance Advisor. Independent Insurance Agents usually offers life, sickness and accident insurances.
An Insurance Advisor provides the following kind of insurance-securities:
1) During Life - Provide enhanced retirement income and funds when life is compromised due to ill health.
2) After Life - Furnish liquidity for the immediate needs of family and business and to offset registered plan and capital gain taxes.
3) From then on - Assure a viable estate for survivor funding and possibly leave a legacy through charitable giving.
The tax treatment afforded to life insurance is a significantly important benefit, advocated by these Advisors which offer sheltered investment compounding and tax-free payout to beneficiaries. The role of an Insurance adviser goes beyond just selling policies. It involves explaining life insurance and its benefits to potential customers and also helping them decide which plan suits them best, after analysing their financial needs. The responsibilities also includes helping people manage their assets, plan their financial security and experience deep satisfaction from making a positive difference in others’ lives. In a nutshell, he needs to act as a strategist in annuities, business insurance, estate planning and personal investment, providing both short and long term solutions to financial risks. Other duties involve facilitating the licensing activity and providing of regular updates on insurance products & services, to customers and clients.
Through this career, the Advisor doles out help in:
• Providing security to a family in the absence of a breadwinner
• Funding the medical needs of a family
• Financing a child's education
• Planning for the retirement needs of an elderly couple
• Overall, in improving the values of our society
An Insurance Advisor is a professional in more ways than one. He is:
a) An estate planner
b) A financial consultant
c) An entrepreneur
d) A confidant
e) A life-long trusted friend
Flexibility of Time:
This is another vital facet of this vocation. There is no time-restraint to follow. If one does not see himself in a desk-bound and chained to a monotonous 9-5 job, should undoubtedly opt for insurance as his career. The right to manage one’s own time makes the efforts more effective, concentrated and meaningful. But working conditions also involves a lot of outdoor activities – esp. moving over to the offices of the clients / going over to their homes to discuss the financial deals with them.