5 Tips to Choosing Your Disability Insurance Broker

Choosing a disability insurance broker is similar to hiring any other insurance agent. It's important to find someone who has more of an interest in solving your problems than scoring their next commission. A good broker will guide you towards making the right insurance decisions, and help you make future changes if necessary. Here are 5 tips to help you make the best choice possible:

Tip #1 - Avoid Brokers Who Try to Force a Sale

Avoid brokers who try to force you to buy insurance from them in the first call or in person meeting. These brokers insist that you buy now, and they resist your request to mull it over and get back to them later. These types of brokers do not have your best interests in mind. You'll end up with a low quality insurance policy that will cost you more in the long run when you need to make a claim.

Tip #2 - Choose One Who Works with Many Companies

You'll have more options if your disability insurance broker works with several insurance companies. If the broker works with only a few, then you'll be limited and the broker won't have much of an incentive to find you the best policy possible. Ask brokers which companies they work with. The more companies they name, the better.

Tip #3 - Confirm that Your Broker is Licensed

The National Association of Insurance Commissioners keeps a database of licensed insurance brokers in every state. They also keep information on which types of insurance they are authorized to sell. Check to see whether the insurance brokers you are considering are licensed to sell disability insurance. You don't want to end up with a policy from an unlicensed broker, because it could be a scam and you could lose money.

Tip #4 - Find Someone Who is Knowledgeable about the Options

The best disability insurance broker is one who is truly knowledgeable about the options for disability insurance. You can lay out your needs and financial circumstances, and they can recommend a number of options that would best fit your situation. Stay away from brokers who need to research the Internet to get answers to most of your questions. They are more likely to steer you in the wrong direction, and they are not worth what you would pay them.

Tip #5 - Check for Complaints

There's no reason to end up with a disability insurance broker who is notorious for mishandling insurance policies or mistreating customers. The first organization you can check for complaints against the broker is the Better Business Bureau. You can call your local Bureau or check online. A simple Google search using the name of the broker plus the word "review" can turn up review websites and forums with postings about the broker. If you notice a pattern of unresolved complaints with a broker, it's best to not hire them.

You can find a competent and knowledgeable disability insurance broker to sell you a policy that best suits your needs. It will just take some work and discernment to weed out the bad brokers.

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