{"id":452,"date":"2019-03-26T10:00:41","date_gmt":"2019-03-26T11:00:41","guid":{"rendered":"https:\/\/diymakerhub.com\/?p=452"},"modified":"2024-05-31T21:29:38","modified_gmt":"2024-05-31T21:29:38","slug":"ask-a-life-insurance-agent","status":"publish","type":"post","link":"https:\/\/diymakerhub.com\/index.php\/2019\/03\/26\/ask-a-life-insurance-agent\/","title":{"rendered":"Ask a life insurance agent"},"content":{"rendered":"

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photo courtesy of Robert Stevenson<\/figcaption><\/figure>\n<\/p>\n

\u00a0<\/p>\n

The Triple-I blog received the terrific opportunity to ask State Farm life insurance agent, Robert Stevenson, a few questions about getting the most out of the often-misunderstood financial product.<\/em><\/p>\n

What is your educational background and what was the path that led you to become a life insurance agent? <\/strong><\/p>\n

Robert Stevenson<\/strong>: I grew up in Savannah, Georgia and attended Hampton University in Virginia. I was working on my master\u2019s degree when I accepted an opportunity with State Farm Insurance Corporate Headquarters. My job was to help the company expand its presence on the east and west coast. During that time, I learned about becoming a State Farm agent, and fell in love with it. I worked hard, and in December of 2000, opened my agency in New York, New York. As a State Farm agent, I\u2019m a small business owner \u2013 I get to know people on a personal level. Helping them manage the risks of everyday life, recover from the unexpected, and realize their dreams is truly rewarding. I\u2019ve never looked back.<\/p>\n

What advice would you give students that are considering becoming life insurance agents? <\/strong><\/p>\n

RS: You have to listen and you have to care. This is more than a job. It\u2019s helping people protect what\u2019s most important to them. People don\u2019t always want to talk about life insurance. It\u2019s uncomfortable. But, let\u2019s be honest. Someday you will die. No one in the history of the world has ever cheated it. That\u2019s why, you have to make sure people are protected, and that they understand the bigger picture. You\u2019re taking care of families and protecting the lifestyle they spent years building. While nothing can bring someone back, a family\u2019s dreams can still be achieved because their loved one had life insurance. It\u2019s truly a gift of love. You need to help people understand this.<\/p>\n

What is the most common misconception that your clients have about life insurance? <\/strong><\/p>\n

RS: That they don\u2019t need it. That they have enough. Often, I\u2019ll hear the response, \u201cI have it through my employer.\u201d But, there\u2019s a chance that benefit can be taken away. Also, if you have life insurance though an employer, and you get a new job, you might not receive the same coverage in your new position. Or, if you retire, it\u2019s likely you won\u2019t receive the same amount you once had. It\u2019s wise to be proactive and read the fine print. Health and age also play a role in life insurance. I often hear, \u201cI\u2019ll wait till I\u2019m married or have kids to get it.\u201d Problem is, as we get older, our health tends to decline. Therefore, if you wait to get life insurance, you\u2019ll likely end up paying more for it.<\/p>\n

How do you help a client determine how much insurance they need and what type of policy is best for them? <\/strong><\/p>\n

RS: I start by forecasting. I ask customers questions like, \u201cWhere do you want to be in five, 10, 20, 30 years? Do you want to be married? Own a business? Have children? Travel? What\u2019s your dream?\u201d It\u2019s vital for people to understand the importance of investing so they can generate more income as the years go by. Life insurance is not an afterthought. It\u2019s the foundation of an investment strategy. You can\u2019t invest in mutual funds, or stocks, or your child\u2019s college, or buy rental properties, etc., if you don\u2019t have the income. If something happens to you \u2013 your family is able to replace your income and still achieve their dreams.<\/p>\n

It\u2019s also important to help customers understand the difference between term life and whole life. Term does exactly what it sounds like \u2013 it covers you for a period of time. If you die within that period of time, your family is covered. But, think about this. Let\u2019s say you\u2019re 35, and you want to buy 20 or 30 years of term life insurance. Do you think you\u2019ll be living 20 or 30 years from now? When I ask people that question, most answer, \u201cYes.\u201d That\u2019s when I remind them, when 20\/30 years goes by and they\u2019re still living, they won\u2019t receive this payout. \u00a0Whole life covers you for the entire length of your life. No matter what. It guarantees your family will get paid. It\u2019s more expensive up front, but you\u2019re guaranteeing a payment \u2013 it builds value you can cash out.<\/p>\n

How does one make sure that their life insurance policy does not get lost and that their beneficiaries get paid as quickly as possible after their death? <\/strong><\/p>\n

RS: When we sell a life policy, we tell our clients, \u201cMake sure your loved ones are aware of the policy and each of you know where important documents are located.\u201d For example, the safe in your house. Also, as life changes, periodic updates with your State Farm agent or financial planner are a smart idea to ensure everyone is on the same page.<\/p>\n

What professional achievement are you most proud of? <\/strong><\/p>\n

RS: That\u2019s a tough one. I\u2019d say, when I got my securities license. It allows you to sell packaged investment products like mutual funds and variable annuities. Getting this takes a lot of work and involves rigorous testing. I had one opportunity to pass it. That was a lot of pressure. But it was worth it. Getting my securities license gave me the opportunity to open my office and help people.<\/p>\n

What do you like to do in your spare time? <\/strong><\/p>\n

RS: I enjoy reading and golf. Having activities like these lets me to unwind. But more so, I love spending time with my family. I have a son and a daughter who keep me busy. Family time is important. All things in equal parts. That\u2019s what keeps life joyful.<\/p>\n","protected":false},"excerpt":{"rendered":"

photo courtesy of Robert Stevenson \u00a0 The Triple-I blog received the terrific opportunity to ask […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"_links":{"self":[{"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/posts\/452"}],"collection":[{"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/comments?post=452"}],"version-history":[{"count":1,"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/posts\/452\/revisions"}],"predecessor-version":[{"id":453,"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/posts\/452\/revisions\/453"}],"wp:attachment":[{"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/media?parent=452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/categories?post=452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/diymakerhub.com\/index.php\/wp-json\/wp\/v2\/tags?post=452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}