6 Benefits of Hiring an Insurance Consultants


A common perception of insurance has always been that it is generally for over-cautious people, which is not true. All types of insurance such as health insurance, property insurance, asset insurance, and life insurance are essential for everyone. Insurance protects you from risk and helps you plan your finances. Many individuals and companies deal with insurance and insurance-based products daily. There are many websites today that give you details about different products and offers running in the market. However, insurance brokers and consultants play a very vital role in guiding us to make the right decision. The major difference between insurance brokers and agents being whom they represent. An insurance broker represents the buyer, whereas the insurance agent represents one or more companies. In Dubai, insurance brokers are preferred over insurance agents, as they provide customized solutions for everyone.

Hiring an insurance broker can help you save a lot of time and money and get the best out of every product offered. Insurance brokers all over the world and especially in UAE provide a wide range of services over and above selling insurance products to customers, in short, they work for you. Let us take a brief look at how hiring an Insurance Broker and Consultant can help you.

1.  Save Money

Dubai Insurance consultants work with different insurance carriers in a partnership deal. Insurance companies also prefer dealing with brokers and consultants instead of hundreds of clients directly. It makes their job easier and the whole process more efficient. As a result, insurance consultants get many exclusive offers on the different products provided by the company. These offers are then passed on to the client, simultaneously it gets the broker goodwill and loyalty from the customers they serve. The same product will be cheaper if bought from a consultant rather than the company directly. Insurance consultants can also help find the most economical product available from the huge portfolio without compromising on the benefits. Dealing with an insurance broker will also aid you to process your claim faster without paying additional fees. In short, hiring an insurance broker or consultant can be financially beneficial to you.

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2.  Product Range

There are a lot of insurance carriers in the market and they, in turn, have a wide range of products to offer. If you look at the UAE alone, there are close to 70 companies in the market. If you attempt the insurance process without any external help from consultants or brokers, you are likely to view 2 or 3 companies that you know of and choose from their products. Even if you consult a company-approved agent, he will showcase limited options based on the company’s interest. However, the insurance brokers in Dubai have a very wide portfolio and will show you a large portfolio to select from. Since they have their network connections, they are familiar and up-to-date with the latest launches and can help you find the ideal insurance package. In short, you can also get different types of insurance packages like health insurance, life insurance, and employee covers from the same agent thus saving you a lot of time and effort in the process.

3.  Service

As discussed above, there are a lot of insurance products in the market, which can cause a lot of confusion resulting in bad decisions. Here the insurance consultants play a very important role as they can help you compare the different products available in the market and analyze which one suits your requirement best. Also, Dubai insurance consultants provide excellent after-sales service. They take care of your claims, renewals, and modification as and when required. Service is a very important reason to keep in mind while hiring insurance brokers as it is hard to keep track of the different insurance plans and a small lapse can lead to a huge loss. With brokers and consultants working for you, you can be assured that your investment is secure.

4.  Advisory Service

Insurance is not just about securing your future in case of emergencies. Insurance is also seen as a huge investment tool. While you can select an insurance package available over the internet and invest in it, a good broker can help you to take your investment higher. Day after day, many changes come up in the investment field, and insurance brokers in Dubai ensure that their clients are kept abreast of them. With their advice, you can be assured the money you are investing will get you good returns. You can seek their advice for filing a claim, adding a top-up, or shifting carriers if the need arises. They will stand by you in all your decisions and help make the process much easier. Insurance companies also prefer clients who come through brokers as they are assured these clients have all the knowledge from their consultants and will be easy to deal with.

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5.  Expert Knowledge

Insurance brokers or consultants are people who have spent years in this field observing every trend and noticing every new announcement and launch. They are the best ones to go for any consultation. When you hire an insurance consultant or broker, you get their expert opinion from their years of experience. They are also unbiased as they are not connected to anyone carrier, unlike an insurance agent. Dubai insurance consultants are experts on investment, returns, coverage, and claims which make them a good ally. Even when you speak to your insurance carrier, you can connect your insurance consultant to them so that they can take over negotiations, if any. You can be assured of having accurate information related to insurance when dealing with the consultant.

6.  Convenience

One of the most famous advertisement lines that everyone tries to imitate is that insurance products are subject to terms and conditions and the documents have to read carefully. Well, this is a simple line but reading the terms and conditions can be quite difficult. There is a lot of jargon involved and missing or neglecting any can lead to a serious impact on your investment. Your insurance consultant can help you navigate all this and even deal with the carriers if it gets difficult for you. Buying a product from a consultant is also easier as they come to your doorstep and handle all the paperwork for you. Getting group policies or employee covers from consultants specifically is a lot more convenient than getting it from the carrier directly.

So, do you have an insurance consultant? After reading our points I am sure you are rushing to contact one.

Also Read: Top-5 Tips to Get a Mortgage Loan Instantly


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