Life Annuity
After talking to many of your friends, reading and researching about life annuities, you are quite sure that a life annuity is the right investment for you. Who do you call, where do you start? Certainly, you will want good references from your friends. Who did they purchase their life annuity from and are they happy with the agent and the service they have received?
A Life Annuity agent is a type of life insurance agent licensed by the state insurance commissioner’s office. The life insurance industry does not require formal education requirements when hiring individuals, however, most firms hiring life annuity agents will seek those with a minimum of a bachelor’s degree. Individuals with majors in finance, business or economics are usually given special consideration. Every life annuity agent must be licensed in each state that he intends to do business. Licensing requires the life annuity agent to complete a specified number of licensing hours in a classroom environment discussing ethics, annuity principles and fair sales practices. Once this is completed then the life annuity agent must pass a test that is administered by the state insurance commissioner. Upon successful completion of this exam the life annuity agent is licensed and will be expected to complete annual continuing education requirements.
Your life annuity agent will work for either an insurance company or a brokerage firm. Many life annuity agents will also have earned the designations that allow them to provide other financial services such as buying and selling securities and many will offer comprehensive financial planning services, including retirement and estate planning services, some designed specifically for seniors. Often, life annuity agents will not hold designations in other financial areas so they will work together with a financial planner to ensure that you receive the best advice for both personal financial planning and life annuity needs. Never hesitate to ask questions so you know exactly what to expect from your life annuity agent.
Technology, specifically the internet, has greatly affected your ability to choose the right life annuity agent. It is now easier for you to visit websites, review companies and their agents and view pictures and personal biographies of life annuity agents. Regardless of the life annuity agent’s educational background and designated degrees, it is imperative that your life annuity agent has good interpersonal skills. You’ve got to be comfortable and the two of you must be able to easily communicate. Never hesitate to interview two or three life annuity agents before you invest and do not allow yourself to be pressured into buying if you are feeling uneasy. A life annuity is a long term investment which means you will want a great, long term relationship with your life annuity agent.
Tags: Choosing an agent, Life Annuities, life annuity, Life Annuity Agent
