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Insurance Exam – What to Expect When You Are Testing

May 18, 2012 · 0 comments

Anyone who wants to become a licensed insurance agent has to pass an insurance exam. they are required to become licensed by the state that they live in, and must follow the training requirements in order to get that license, aside from the actual exam. the questions that are on an exam will vary depending on the type of insurance that you are trained in. There are two main categories of consumer insurance that people license in: property and casualty, better known as P & C, and life and health insurance. some get both, but the exams and licensure are separate, which is important to note.

An insurance exam will cover all the basic elements that you learned in your insurance training, including information about customer service, policy standards, writing policies, and even general underwriting and insurance questions that will be relevant to your position in the long run. If you’re licensing in P & C insurance, you’ll find a plethora of questions about home insurance, car insurance, and various rules and regulations for those areas, for example. Understanding the material in your insurance training is the only way to know what’s coming when you get to the exam.

Insurance exam centers are located all over the country. Once you have completed your training, you will be required to find a testing center where you can take the exam that is applicable to the type of insurance that you’re going to be working with. some employers, if you have a position in mind or are already ‘hired’, will pay for the expense of licensure and taking the necessary exam and training courses, but it all depends on who you’re working for. Someone hired at a local agency that is seen as a big investment will likely get compensated for training as a condition of the job much easier than someone who works at a big company with little personal investment.

You don’t have to worry about taking the insurance exam if you have done the training properly. You will know everything that you need to know, and the exam isn’t designed to trick you or mislead you in any way. Unlike many standardized tests, the insurance exam just wants to make sure that you’re competent where it counts, and isn’t going to analyze the answers that you choose based on how the question was worded. They’re just going to check to see if you know your stuff. That’s all they care about.

Insurance Exam – What to Expect When You Are Testing

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AIG Life Insurance – Agent Marketing Reflections

May 14, 2012 · 0 comments

AIG Life Insurance Company, as part of the American International Group, was the global international leader in the financial services industry. This giant has various operations in over 100 countries with additional services that include property casualty insurance, asset management services, and purchasing and underwriting subprime loans. without the massive and controversial United States bailout, it would be in bankruptcy.

AIG has lost their coveted super high insurance ratings, where the major rating firms annually miscalculated their business practices. Now they have begun a reorganization that will constitute major selloffs while refocusing on once again becomes a dominant insurance company. Stockholders saw stock prices plummeting from its high by over 90% before now starting to stabilize.

Your big AIG question should be: Has AIG learned their lesson? Moreover, if you now or previously represented them, Have You learned your lesson?

Five things contributed to the choice of many American insurance reps to sell their insurance products to clients.

1. GREED Selling term insurance offered by AIG Life Insurance provided representatives with commission payouts often 20 to 30% higher than other major competitors.

2. SIZE Insurance representative implied to prospective clients that dealing with the largest company, meant it had to be the best. Otherwise, how could it be the largest?

3. RATINGS Many insurance reps only will sell products of the highest rated insurers. They tell themselves and clients that means financial security. Well the atomic rating bomb has exploded, injuring millions.

4. PRICE the easiest way to sell term life insurance, is to offer your prospect the lowest price on the market. Do clients buying AIG Life coverage live longer so rates are lower? Are AIG internal expenses lower, so rates are lower? (Like an expensive resort meeting in Arizona funded by American taxpayers) Do they pay their reps less? (See #1) A full combination of these would be the only way rates could be lower then competitors.

5. BUYING BUSINESS the quickest way to jump the ladder to rise upward, is for an insurance company to buy business. As the insurance company, you attempt to give as many clients now by whatever it takes to get more policies sold, and worry later about when claims have to be paid out. Baiting the hook was easy. Sucker in agents with higher commissions, the lowest term insurance rates, and thinking they were representing the smartest insurer out there.

AIG Life Insurance is still buying business today, after all the turmoil of internal problems. Watch television and you will see a closely affiliated company offering term life insurance at rates up to 70% less than others. If you somehow catch the fine print, you will see AIG mentioned as the insurer. An excellent way for AIG Life Insurance to bypass insurance representatives, and still fool consumers. A slight twist, but business as usual for them.

Selling insurance to clients should reflect the conscience of an insurance representative in recommending the right product and the right company. there are over 600 life and health insurance companies offering products in almost every state. If you are selling based highly on commission rates, company size, ratings, or price, you are probably doing a disservice to your clients.

THE BEST POLICY IS HONESTY

AIG Life Insurance – Agent Marketing Reflections

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How to Get Cheap Car Insurance in New Jersey

May 4, 2012 · 0 comments

Car insurance is compulsory in most US states, including new Jersey. The competition between insurance companies in new Jersey is fierce, so you should be able to find cheap insurance deals easily. Cheap does not always mean poor quality. if you search carefully, you should be able to get excellent insurance coverage at a low price.

As a customer, you deserve what every other customer deserves. a professional auto insurance company does not only offer friendly and personal service, but it should also offer you low premium rates and expert advices on choosing the plan that suits your needs.

New Jersey ratified the US constitution on December 18, 1787, and hence became the third state to officially join the United States of America. It is also ranked the 47th largest state, covering 8,729 square miles of land. The state is named after the largest of the English Channel Islands, Jersey. not only does it have the highest population density in the country (more or less equal to Hong Kong’s population density per square mile), but it is also well-known as a major seaport state with its largest seaport located in Elizabeth. Knowing the fact that new Jersey is a seaport state as well as the largest state in terms of population density can actually help you decide which insurance plan suits you best. In addition to that, you should also know about the potential catastrophes that you may encounter.

If you have a teenage son or daughter who drives, you must understand the Graduated Driver Licensing (GDL) laws of the state of new Jersey. Insurance Institute for Highway Safety Rating for GDL includes regulations such as Minimum Entry Age (Optimal: 16), Extended Learner Period (Optimal: at least 6 months), Parent Certification (Optimal: 30 hours minimal), Night Restriction (Optimal: 9 or 10 p.m), Passenger Restriction (Optimal: only 1 non-family member), and Minimum Exit Age (Optimal: 18).

Most major roadways in new Jersey allow easy travel from north to south. however, since the state does not have many east-west roadways, main arteries in the state such as the Route 22, Route 78, Interstate 95, and Route 522 are more likely to be congested. while annual auto insurance for new Jersey drivers rarely reaches $1,000, reports claim that the state has the highest auto insurance rates in the United States. therefore, even the cheapest insurance rates you can find in this state can still be considered expensive by national standards.

How to Get Cheap Car Insurance in New Jersey

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