Life insurance broker

A life insurance broker acts as an intermediary between the client and the insurance companies. He finds a life insurance policy for the client and receives a commission from the insurance company for introducing the business. As there are numerous types of insurance policy offering different levels of cover that it is helpful to have someone who can explain them properly to you. It can also be useful to have a life insurance broker help you arrange the policy once you have chosen the right one for you.

The life insurance broker will try to find the best insurance policy for you from a range of insurance companies. Some of them are independent and can find the best policy from a range of companies but some of them may only be representing a handful of insurance companies, or will be tied to one insurance company. So make sure you find out what type they are.

Don’t forget that the insurance companies pay commission to the agent which shouldn't affect the products they recommend but it does mean that they could offer you a discounted premium giving you part of their commission in the form of a cheaper premium for the same level of cover