How one can Decide a Life Insurance coverage Agent’s Credentials
The life insurance coverage business has many credentials and designations. The necessities to earn and preserve particular designations will range considerably. Skilled designations point out a dedication to the occupation and moral enterprise practices.
You can begin out by asking the agent about their designation and the way it’s useful and related to you.
There are principally two varieties of designations for insurance coverage:
These are designations which might be earned by means of training and testing. They point out that the agent is severe about skilled improvement:
- The benchmark skilled designation for all times insurance coverage brokers is the Chartered Life Underwriter (CLU).
- Brokers who’re additionally monetary planners could carry such credentials as Chartered Monetary Marketing consultant (ChFC), Licensed Monetary Planner (CFP), or Private Monetary Specialist (CPA–PFS).
There are different skilled designations, nonetheless these are the most typical.
These are designations which might be obtainable to anybody who pays for them. They are often earned by means of a brief seminar or cursory on-line course. Insurance coverage regulators have banned quite a few designations, notably these which might be senior particular. In California, these designations embody Licensed Retirement Monetary Advisor (CRFA), Licensed Senior Specialist (CSS) and Elder Planning Counselor (EPC).