In 16 years of helping clients get life insurance policies through many different companies, I've learned much about the key differences between Name Brands and non-Brand Names.
Do the big brand-name's provide better policies and benefits than non-brand name's?
Let's look at the facts to answer that question. I used to be a "captive" agent for one of the largest big name-brand life insurance companies. After I discovered I could only sell that company's policies and that those policies were more expensive with less benefits than a non-brand name company's policies, I switched to being an independent broker. I didn't make as much money, but I felt better about doing what was best for my clients.
By doing so, I could then shop the market and provide policies that were "in the best interest of my clients" instead of the big name-brand insurance company.
The top ten big Name Brand insurance companies combined spent $9.75 billion last year in their effort to convince you to buy your insurance from them. Madison Ave. advertising gurus have the evidence to prove that most consumers end up doing business with the company they are most familiar with.
They have discovered most consumers don't care if the mascot is a gecko or a duck. As long as they feel good about the commercials, their minds become predisposed to trust them and their products.
Who pays for all those TV commercials? Ultimately their customers do, by paying more for their policies than they need to.
Most consumers think one life insurance policy is as good as the next. They also think the more expensive the policy the better it is.
They are ignorant of the fact that the cost for identical policies with non-brand name companies can be as much as 45% less and that some policies come with extra "Full Living Benefits", at no additional charge, that can prevent bankruptcy in the event of a severe critical injury or illness.
In fact, none of the big brand-name life insurance companies offer policies with "Full Living Benefits", yet they charge much more for their ordinary insurance without them.
In my 16 years in the industry, I have found that as long as the company has a strong A rating for financial integrity, the key thing to look for is best value, which I've found to be a factor of cost plus benefits.
As an independent broker, I have the flexibility to choose among hundreds of companies' policies. One of my favorite companies for my clients and the one I use personally for myself and my family is a non-brand name most people have never heard of. They've been around for 123 years. Instead of spending millions in marketing, they take the savings and keep their costs low (45% lower than one top brand name.) This also allows them to provide "Full Living Benefits" for financial protection in the event of a critical or chronic or terminal illness. They do this at no additional cost and why I consider their policies to be the "Very Best Value" Life Insurance policies available.
For personalized service, please call on:
Stu Schell of Schell Financial Solutions (425) 344-6322