A Broker Saves You Time And Money!

I cannot imagine my life without my broker! I regard my broker just as important as other necessities such as my cell phone and my car! Having a broker is so convenient that I can’t grasp why some people are still hesitant to make use of a broker’s services.

A broker acts as middleman between the consumer (you) and the company (the people wanting to charge you a lot of money). Their main purpose is to look after the interests of their clients and offer them advice in choosing the best product for their specific needs and requirements.

Not all brokers specialize in all areas of insurance or other related products. Some brokers will only be able to assist with your short term insurance needs, whereas other brokers will also be able to offer advice on anything from life insurance to medical aids and retirement annuities. It is therefore of vital importance that you choose a broker who will be able to offer assistance in the field you would require.

By using medical aid as an example it is easy to see that the main benefit of dealing with a broker will be their extensive knowledge of the product in question. They are also familiar with the requirements and regulations of various companies. Why spend hours on the phone with 10 different companies, trying to make sense of their range of products, if your broker will be able to supply you with all the information? Brokers will be able to suggest the best medical aid and medical aid option, based on your needs and requirements.

Many people are afraid that making use of a broker will result in more expensive premiums as a brokerage fee will be charged for such transactions. This is not true. The insurance and medical aid companies reward the brokers with commissions and incentives, but this is not added to your premium! You will often get even lower rates if you make use of a broker because they are always up to date with the best products available on the market.

The one thing you have to make sure of is that a broker does not put pressure on you to make use of a specific product or company. As mentioned, brokers are rewarded by the various companies and might be getting bigger incentives from certain companies than from others. It is very important that your broker gives you a wide range of options to choose from; otherwise you might need to shop around for a new advisor. Brokers are there to listen to your needs and offer advice, but the final result still lies with the client, so never allow yourself to be bullied into a product that you are not 100% happy with.

With a broker handling your affairs, there will also be less paperwork to worry about. Once the client has completed all the required application forms the broker will submit this to the insurance or medical aid company and ensure that the application is handled professionally.

Brokers are there to make your life easier! No need for you to phone around if you have a query with something on your policy or if you’re battling with a claim or invoice, your broker is there to act on your behalf. As long as you have a professional, experienced broker, you can rest assured that all your insurance and medical aid matters are taken care of.

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