Beware of the agent replacing Insurance coverage

Has anyone contacted you to replace an insurance policy...if so BEWARE. The agent that replaces policies, especially life and disability is not always doing so in your best interest. I had a case recently which upset me because after all was said and done my former client has no coverage. An agent approached her with some mortgage protection which was by no means comparable and on top of all that outright lied about her current policy and it’s benefits. The sad thing is with all the confusion and deceit by this other agent she cancelled both policies so now my former client has nothing. If something happens to her, her child is left with nothing just because some unethical agent wants to make a few bucks!!

It seems that every week I get another letter from one of my companies about yet another policy replacement. The thing that scares me is all these agents are not making a fair comparison. Many of these replaced policies have disability coverage included and they do not even offer this additional rider. Each time I ask the client they always say Yes they have the disability coverage. Seems odd to me considering they don’t have it available….think maybe these agents are telling the truth...I doubt it!

There are some companies out there whose whole ethic is to replace policies and their prices are not even competitive. Let alone most of their agents are very under qualified. The objective with these companies is to work on friends and relatives so every time I hear a certain companies name it is “ my friend or relative sold me the policy”. It would be better to make sure by comparison if the coverage is good to keep friends honest, look at several companies. The bottom line is if someone wants to replace any current coverage for you make sure to talk to your agent or broker before you do anything!!!!!