All too often, advisors short-change themselves and their clients by failing to take advantage of the capabilities of a life insurance brokerage general agency.
Here are seven ways to get more from a BGA:
No. 1: BGAs have the pulse on the market regarding products, company trends, underwriting niches, time service and deadlines for changes that can impact advisor clients and prospects.
No. 2: BGAs can match up advisors with the right company and product the first time, avoiding delays created by submitting another application later in the process.
No. 3: BGAs know about the technology changes in the new business platform that can save an advisor time and energy, as well as shorten the process for the applicant.
No. 4: BGAs will know if there are potential licensing landmines or deadline issues when submitting business to a carrier for the first time. When applying for an annuity or long-term care plan, there may be training and certification hurdles to overcome before taking an application.
No. 5: If there are product deadlines that could have an adverse effect on an applicant, a BGA can assist advisors in taking advantage of looming product changes, interest rate reductions, or re-pricing based on the low interest rate environment.
