“Life insurance pays a death benefit if you die while the policy is in effect, in exchange for premiums you pay before your death. You can use the death benefit to protect against financial hardships such as loss of your income, funeral expenses, medical or nursing care expenses, debt repayments, and child care costs after your death.” – National Association of Insurance Commissioners (NAIC), Life Insurance Buyer’s Guide.

Request a Customized Life Insurance Quote:
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional:
https://www.mytexaslifeagent.com/schedule-a-call/

“How much life insurance to buy depends on the financial needs that will continue after your death. Examples include supporting your family, paying for child(ren)’s education, and paying off a mortgage. Some questions you may want to ask about your own needs include:

– Does anyone depend on me financially?
– How much of the family income do I provide?
– How will my family pay my final expenses and repay debts after my death?
– Do I want to leave money to charity or family?
– If I have life insurance through my employer, is it enough to meet my financial obligations?

The answers to these questions can help you decide how much coverage you need. An insurance agent, financial advisor, or insurance company representative can help you evaluate your insurance needs and give you information about available policies.” – National Association of Insurance Commissioners (NAIC), Life Insurance Guide.

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

“It’s important to compare your current policy with any new policy you might buy.

Keep in mind that you may be able to change your current policy to get benefits you want. Also, know that any changes in your health may impact your ability to get a new policy or the premium you’ll pay. Don’t cancel your current policy until you get the new one.

Also, while you may have free or low-cost life insurance through your employer, the death benefit usually is less than you need. And if you leave the employer, you may not be able to take this coverage with you.” – National Association of Insurance Commissioners (NAIC), Life Insurance Buyer’s Guide.

You can also use the “Life Insurance Needs Calculator” that can be found by clicking on this webpage :
https://www.mytexaslifeagent.com/life-insurance-needs-calculator/

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

There are many types of life insurance policies. You should choose a policy with features that fit your individual needs. Some things to consider are:

TERM VS. CASH VALUE: Term insurance is intended to provide lowercost coverage for a specific period of time (“a term”). If you want coverage for a longer period of time, such as for your lifetime, cash value insurance may be more cost effective. Most term policies don’t build up cash values that you can use in the future.

RENEWABLE TERM VS. NONRENEWABLE TERM: Most term life insurance coverage can be continued (“renewed”) at the end of the term, even if your health has changed. If you renew a term policy, the new premiums are higher. Ask what the premiums will be before you renew the policy. Also ask if you’ll lose the right to renew the policy at a certain age. A nonrenewable term policy can’t be continued. You’ll have to apply for a new policy if you still want coverage.

WHOLE LIFE VS. UNIVERSAL LIFE: Whole life and universal life insurance are two types of cash value insurance. A key difference between the two is how you pay for the coverage. You typically pay premiums for whole life insurance according to a set schedule. In a universal life policy, you can choose a flexible premium payment pattern as long as you pay enough to keep your policy in force.

VARIABLE LIFE VS. NON-VARIABLE LIFE: The investments you will choose (such as stock and bond funds) in a variable life policy directly impact your cash value. These policies have the greatest potential to build cash value but also the greatest risk of losing cash value. Non-variable life policies often have guaranteed minimums for some features (interest or cash value, for example) but not all. Non-variable life policies also have less potential to build cash value than variable life policies.” – National Association of Insurance Commissioners (NAIC), Life Insurance Buyer’s Guide.

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

“Before you buy a life insurance policy, be sure you can pay the premiums. Can you afford the initial premium? If the premium increases later, will you still be able to afford it? The premiums for many life insurance policies are sensitive to changes in the company’s investment earnings, claims costs, and other expenses. If those are worse than expected, you may have to pay a much higher premium. Ask what might be the highest premium you’d have to pay to keep your coverage.” – National Association of Insurance Commissioners (NAIC), Life Insurance Buyer’s Guide.

You can also use the “Life Insurance Needs Calculator” that can be found by clicking on this webpage :
https://www.mytexaslifeagent.com/life-insurance-needs-calculator/

After you use the “Life Insurance Needs Calculator “, you can then request for a Life Insurance Quote. Usually a Life Insurance Agent would ask how much can you budget for it per month, because premiums can be customized for “Face Value Amount” or “Premium Amount”.

Just fill out the form by clicking HERE so that we can schedule an interview and research the quotations for you and then submit the Application for an Life Insurance Policy Contract. The Insurance Company would know best whether to Accept or Decline the application. Most insurance premiums can be designed for affordability as well. The best insurance is the one that pays, because we have made the wise decision to put a policy in place for when that time comes that we leave our family members behind.

Begin and act now.

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

“You can apply for life insurance through life insurance agents, the mail, and online. In addition to basic information, such as your name, address, employer, job title, and date of birth, you’ll be asked for more personal information. Depending on the type of policy, the insurer may require you to see a doctor, answer health-related questions, or have a medical professional come to your home or office to assess your health. Usually a policy that doesn’t require detailed health information will cost more and provide less coverage than one that does.

It’s important to tell the truth on the application. The insurance company will check your answers so review the application before you sign. If the insurance company discovers false statements on your application after it issues your policy, it could reduce or cancel your coverage.” – National Association of Insurance Commissioners (NAIC), Life Insurance Buyer’s Guide.

The form that was developed on our “Request for a Customized Quote Page” contains, more or less, the typical questions asked by majority of Life Insurance Companies. I developed it here for those who are wondering about the process and how much time it takes. You can review the page at:

https://www.mytexaslifeagent.com/begin/

Then, the case would be assigned to a Licensed Agent to research which among the 11 Carriers we represent, has the higher probability of accepting the application, based on the Underwriting Guides that we have.

Some Insurance Carriers ask for Height and Weight, as they have their Build Chart limits, some carriers don’t ask for this. But there are general “must haves”. We can run the numbers and quotes and then give you a call so you can decide on the Options. The final decision to accept the Application is with the Insurance Company.

If you decide to go on ahead with an Application, prepare the following:

– Social Security Number
– Driver’s License or State ID Number
– Bank Details (Routing Number and Account Number)

The Insurance Company needs those three, because they also will run their own research as to your insurability.

– Your Health Information is attached to your SSN, so they run a Medical Information Bureau (MIB) Check and Prescription Background Check.

– They need your Driver’s License Number to also check for insurability and eligibility.

– They need the Bank Account, because if their research shows that you are insurable, they will draft your bank for the first premium amount.

– Once you’re Insurance policy is approved and considered In Force, or Active, you will also receive an emailed policy and a mailed paper copy of your Insurance Policy.

You have a 30 Day “free look” period – and after that, it becomes the Life Insurance Policy Contract that is binding, for as long as premiums are paid on or before their due dates.

Peace of mind is priceless. So. let’s get started at:
https://www.mytexaslifeagent.com/begin/

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

“A beneficiary is the person(s) or organization(s) you name to receive your life insurance policy’s death benefit. You’ll need to know the Social Security or tax identification number for all beneficiaries. Experts advise you not to name a minor child as a beneficiary. Insurance companies won’t pay a minor. Instead, consider leaving the money to your estate or trust.” – National Association of Insurance Commissioners (NAIC), Life Insurance Buyer’s Guide.

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

“Does your policy have a cash value?
– In some cash value policies, the values are low in the early years but build later on.
– In other policies the values build up gradually over the years.
– Most term policies have no cash value.

Ask your insurance agent, financial advisor, or an insurance company representative for an illustration showing future values and benefits. “ – National Association of Insurance Commissioners (NAIC), Life Insurance Buyer’s Guide.

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

“After you buy life insurance…

READ YOUR POLICY CAREFULLY

After you carefully read your policy, you should be able to answer the following important questions:

– Is your personal information correct?
– Do premiums or policy values vary from year to year?
– What part of the premium or policy value isn’t guaranteed?
– How will the timing of money paid and received affect any interest the policy might earn?

Your insurance agent, financial advisor, or an insurance company representative can help you understand anything that isn’t clear.

If you’re not satisfied with your new policy, you can return it for a full refund within a certain period, usually 10 days after you receive it. The review period usually is stated on the first page of the policy”

REVIEW YOUR LIFE INSURANCE POLICY EVERY FEW YEARS

Review your policy with your insurance agent, financial advisor, or an insurance company representative every few years to keep up with changes in your policy and your needs.

– Have the premiums or benefits changed since your policy was issued?
– Do the death benefits still meet your needs?
– Do you need more or less coverage after life events, such as birth, adoption, marriage, job change, death, or divorce?

The insurance company can provide policy statements and illustrations to help with this review. As the policy owner, you can change beneficiaries at no cost. Be sure to review your beneficiaries every few years, especially after major life events that affect your life insurance needs.” – National Association of Insurance Commissioners (NAIC), Life Insurance Buyer’s Guide.

You can also use the “Life Insurance Needs Calculator” that can be found by clicking on this webpage to see if your insured just right, or overinsured, or underinsured, based on your current Life Insurance Needs:
https://www.mytexaslifeagent.com/life-insurance-needs-calculator/

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

It is a license that allows a person to sell, and give advise on Life, Health and Accident Insurance Products.

Having this type of a license, someone can be a “Captive Agent” or an “Independent Agent / Broker”.

A “Captive Agent” is someone who works for one Insurance Company / Carrier, and is only authorized to sell the Insurance Products of that specific Insurance Company. They often have a base salary and they earn smaller percentage of commissions as well from the Insurance Products they sell. Their “leads” or prospects are usually assigned or provided to them.

An “Independent Agent / Broker” is someone who usually partners with an Insurance Marketing Organization (IMO) who facilitates the processing of contracts of agency with different Insurance Carriers. The IMO earns an override percentage out of all the sales that the “Independent Agent / Broker” makes. The Independent Agent / Broker also has to spend for acquisition of leads and prospects, independently. It’s an all commissions type of work. (That’s why I wrote “you have to love and serve people”, because “an Independent Agent / Broker” has to have that entrepreneurial spirit in their being to gain that intestinal fortitude to ride out the ups and downs of this career.

1) You have to prepare for the State Exam. There are Exam Preparation Courses you can take (use goo gle). You have to enroll in a Course Provider accredited by the State, so you only prepare and study. Give yourself a good week to FULLY dedicate to studying (there’s a lot of topics to cover and understand). Some do 2 weeks of dedicated study time, but for me personally, that’s what I did. Gave it my full undivided attention and understood concepts.

2) Go to your State’s Department of Insurance and print out the requirements for “General Lines Agent” exams (includes, Life, Health, Accident and HMO).

3) Schedule FBI Fingerprinting. Keep the receipt number, you will need this to complete your State Application for your License.

4) Schedule your State Exam 7 days out.

5) Study, study, study.

6) Take the State Exams. It’s a proctored 4 hour State Exam. You’ll know the results right after the 4 hour test. The Proctor will print out the Test Results with your picture in it.

7) When you get home, you can go to your State’s Department of Insurance and send in your application, giving your Test Results Code, and your Fingerprinting Receipt Code.

8) Wait for their email to let you know your License is Active.

9) Go to the the National Producer Registry also to get your National Producer Number. (Different from your State License Number).

10) Look for an IMO to partner with. AND HERE IS WHERE I WILL WARN YOU, so pay attention:

10.1) Interview THEM first,

10.2) Ask how many Insurance Carriers they are contracted with,

10.3) Ask what their Commission Structure is with these Carriers,

10.4) Ask if they provide some type of sales training (or do you have to watch tons and tons of youtube videos to figure things out for yourself)

10.5) Ask if they themselves (the IMO) sell leads.

What I have learned, in my first go round more than 2 years ago, was “I did not know what I did not know”. Don’t waste money on buying “aged leads” because you are going to go down that sad sad place of getting yelled at over the phone by people who have been harassed with phone calls for many many years!

Unless you want to “practice”.

Getting yelled at.

And not crying.

Like Rambo.

So in this go round, for me at least, I’m pulling my MBA hat out, and putting it on.

I’m doing the good old marketing and advertising the business myself through paid ads.

Direct Mail.

Those who want it, will respond.

Simple.

11). So when you find an IMO, pick your Insurance Companies to contract with. The IMO will check this first and then when everything is in order, they will submit your Applications to the Insurance Companies.

12) One by one, you will receive the Welcome Emails from these Insurance Carriers that will usually include:

12.1) Your Agent Number – different companies call us differently, some call it “Producer #” “Writing #” “Independent Consultant #”

12.2) The Company Agent Portal where you create a Username and Password, and then you can Run Quotes on the products, Create Product Illustrations to give to your prospects (Usually products that have Cash Value like Whole Life Insurance Product or Indexed Universal Life Insurance Products require Illustrations to be attached to the Life Insurance Application). You can also go into specific product trainings and order sales materials and they all ship it to you free.

13) Do good business, help and serve people, help protect their families with Life Insurance.

14) Be a product of the product. Make sure YOU have Life Insurance, so you can be confident in selling what you yourself have.

And with all the face to face interaction you would do when you schedule interviews, make sure you are also protected because we never know what lies ahead.

The Insurance Carrier, in the Agency Contract, stipulates the Percentage of the Commission Payments directly deposited to the bank account of the Agent. The IMO, who is also considered like an “upline” of the Agent, also gets a percentage of the Agent’s Sales Production, also paid directly by the Insurance Company to the IMO Upline’s bank account.

The Consumer / Client DOES NOT PAY the Agent Directly. It is the Insurance Company who processes the Insurance Payment Premiums.

The Life Insurance Policy Contract is between the Consumer / Client AND the Insurance Company. The Insurance Agent only facilitated and assisted in the processing of the Life Insurance Policy Application. Some Cases require more research and Underwriting, but it depends on the Health Status of the Client / Consumer / Applicant.

The Insurance Company gives an “Advance” to the Agent.

What happens if ..

If the Client decides to cancel the policy within a year, the Agent pays the Insurance Company what is called “clawback” or “chargeback”, “insurance debt”.

If the Client dies within a year, the Agent also pays the Insurance Company what is called “clawback” or “chargeback”, “insurance debt”.

If the Agent doesn’t pay the “insurance debt”, this debt “rolls up” to the “upline IMO”.

That’s why there is also that risk to the IMO.

1) Most AM Best Carriers require Errors and Omissions Professional Insurance of at least 1 Million/3 Million Coverage.

2) Continuing Education Courses – Classroom Equivalency 24 hours. Usually 4 hours of Law and Ethics, and at least two Hours of Anti Money Laundering (AML) Courses.

3) Sales and Marketing Budget – either buying leads, or self generating leads through advertisements or Direct Mail drops in bulk.

4) Technology Expenses – domain names, webhosting. (I don’t and will not pay for any CRM because I developed my own. Also with all this deepfake AI things going on now, it is kind of scary how there are autodialers that can call hundreds of numbers at the same time, and then a recording is automatically played – and you think you’re speaking to a live person, yikes). Anyway, it’s a person to person transaction. So, it’s all shiny ball syndrome. Reminds me of the gold rush. It wasn’t the gold miners who got rich, it was the people selling the shovels and wheelbarrows. I learned the hard way when I started three years ago or so, and those that get victimized that way, really just have to be careful next time.

Don’t get duped. Generate your own leads and market to your own prospects. It might take time, but hey, that’s what being an INDEPENDENT Broker Agent is all about.

5) DBA permits, not required, but it’s useful when or if you want to build “business credit”. You need a DBA at least, to open a business savings account.

6) Gas money – for all the driving you would be doing. If you are doing tele-sales, then you’d need …

7) Pizza money. Kidding.

This was supposed to be “Knowledge Base”… it got personal a bit sorry, but my personal experience became Knowledge to me. And I want to share. 🙂

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

Insurance is highly regulated by the State of Texas (and regulated in all States in the United States). Life Insurance Agents are Licensed Professsionals who have studied the regulations and are also FBI background checked and fingerprinted. Only those with Active Licenses and Continuing Education compliant Life Insurance Agents can sell Life Insurance. They use their Active State Licenses to contract with different Insurance Companies who are also licensed to do business in Texas.

All Life Insurance Policies are sold through appointed or contracted Independent Licensed Agents. They can either work for a specific Insurance Company or Carrier as a “Captive Agent”, or can be contracted with different Insurance Carriers as an “Independent Broker / Agent”.

Some Licensed Agents also use technology (like websites like this one) to share information on how to apply for a Life Insurance Policy. As Licensed Agents, it is our duty to “Know our Customers”, because we want to make sure that we are putting our client’s best interests at heart, in assisting in the application process, using our own access to the Insurance Companies secured portals as we try to give them the best policy that we can apply to after doing a Needs Analysis.

Each person’s insurance needs are different, there’s no one size fits all.

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/

A Licensed Professional needs to know at the very least the following:

– Date of Birth
– Sex at birth
– Tobacco Use
– Height and Weight
– Health Status

The Quote Page was developed so that Consumers would know the prequalification questions that are asked in a typical Life Insurance Policy Contract.

Request a Customized Life Insurance Quote
https://www.mytexaslifeagent.com/quote/

Schedule a Call with a Licensed Professional
https://www.mytexaslifeagent.com/schedule-a-call/