Insurance agents are essential advisors when it comes to helping people with risk management and financial planning. Agents are the respected experts that offer invaluable solutions to life’s unknowns.
What are some of the top solutions to offer your clients as an agent?
Life insurance
When it comes to life insurance, there are many misconceptions like perceived need, cost, and the selection of policies available. As an agent, you can offer your clients knowledge and advice on how to proceed with life insurance. Solutions like term life insurance, whole life insurance, and universal life insurance all have a place depending on the goals of your clients.
Medicare Supplement
Medicare is not only confusing but oftentimes fails to cover all the medical needs of seniors. As an insurance agent, you can guide those age 65 and older on how to supplement their regular Medicare plan with additional backup coverage.
Supplement plans can help with costs like coinsurance, deductibles, and hospital costs that aren’t covered.
Specialized health care
As people age, the need for coverage like dental, vision, and critical care becomes more distinct. Older adults often need treatments like dentures, eyeglasses, and more. Seniors also face a higher chance of needing critical care when facing serious illnesses.
Specialized health care plans offer solutions for the growing needs of seniors as they age at an affordable cost.
Retirement planning
An astounding 66% of adults plan on using Social Security as a main source of retirement income. Because experts recommend retirees will need about 75% of their pre-retirement income, Social Security most likely won’t cut it. A mere 21% of surveyed adults expect to use their 401k or IRA as a primary source of income. Clearly, American adults are falling short when it comes to adequate saving.
As an insurance agent, you have the training and resources to help people plan for retirement and design a realistic strategy for accumulating savings. You can offer a number of long-term solutions to fit any lifestyle and budget.
Annuities
Only 29% of American adults utilize annuities or life insurance as a form of retirement income. In general, people tend to know much less about annuities than other kinds of retirement investments. Annuities provide diversification and a quite a few benefits for those willing to invest in them.
Your expertise in financial products is what adults, especially older adults need when choosing options for retirement.
From fixed annuities to variable annuities, you can help your clients find the best solutions for their goals based on their preferred level of risk tolerance.
Long-term, short-term, and home health
Nobody ever plans on needing services such as long-term care, short-term care, and home health care, but these three coverages are imperative to an aging population. Without these insurance options, people can face costly bills that they may not be able to pay.
Only 15% of retirees in 2020 were very confident that they could afford long-term care in retirement. And with such little confidence in affording long-term care, the numbers don’t get much better with short-term or home health care.
Providing insurance solutions for these services can save your clients a significant amount of money in the long run, not to mention give them peace of mind.
When it comes to offering solutions to your insurance clients as an agent, these options always prove to be valuable. At American Senior Benefits, we provide all six of these solutions with top of the line carriers.
Interested in working with us as an agent? Contact us today and learn how we can help you advance in your career and enjoy the independence you deserve.
