We’ve got a big population in Phoenix. It’s important to understand that the life insurance companies that are camped out in the Phoenix area, are generally NOT the heavy hitters of the life insurance industry. They do NOT have the highest ratings and the best prices.
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Shop Life Insurance, Local?
Now, I know a lot of people, myself included, want to go with a local company. You can certainly do that (when it comes to life insurance), but you’ll have to sacrifice quality and potentially pay more, to take that route. However, if quality at lower prices are important to you- the best way to go is to find an independent Arizona life insurance broker and simply go with the best, all-in-all life insurance option, available.
The Strength of A Life Insurance Agency
A sound Arizona life insurance agency should have access to not only the local Phoenix companies, but also the larger A Rated life insurance companies located throughout the country. Partnering with a solid local agency, gives you access to their shopping network. Otherwise, you are shooting yourself in the foot, if you plan to limit yourself to only shopping locally. Specifically, the top life insurance companies located in Phoenix have a B Rating, and pricing is competitive. Other large, well known companies, outside the state, have an A Rating, and competitive pricing. What Life insurance would you rather choose to protect your loved ones?
The beauty of having your agency shop all of these options, is you get to have your cake and eat it, too. Compare all the options and YOU choose. For example, a fantastic company like Mutual of Omaha or American Amicable and a whole slew of other companies that have high ratings, are NOT located locally. However, they have everything in a life insurance company you are likely looking for. They tend to offer the best customer service, they’re well established, and financially solvent.
Captive VS Independent
Finally, choose an independent broker, not a captive agent. A captive agent, can only show you life insurance options from within 1 life insurance company. You will have more options, and therefore a better end result, if your agency has access to a lot of companies. Make sure you choose an agency with a strong blog section and endless testimonials. These demonstrate they are highly active, informed, and helping people on a regular basis.
If you have questions about choosing a life insurance company, or concerns about choosing a local agency, please feel free to contact us. We will help however we can.
This article was written by Chad McMahan, CEO of Protect With Insurance.