Unbiased Insurance Consulting

Unbiased means without bias.  To me it means that you have no financial interest in the recommendations you make.

In the insurance consulting world, you are either an unbiased insurance consultant or you are not.

If you accept fees or commissions from insurance companies or insurance agencies, you are not unbiased.

This from another consultant’s site: …it’s a scary, overwhelming task to try and figure out which companies and plans are best for you.  That’s why we’re here to help. You see, we don’t just sell insurance. As an independent insurance consultant not tied to any single insurance company’s products, you get unbiased personalized advice that’s worth something – and our advice is completely free.”

Horse hockey!

Unbiased?  Come-on.  You get paid a commission on the sales you make of an insurance company policy.  Bigger sale, bigger commission.  Free advice?  It’s not free.  You sell a policy and you get paid a commission.  You don’t sell a policy, you don’t get a commission.

Twenty years ago my bank at the time demutualized.  I bought 25 shares.  About ten years ago that bank bought an insurance agent.  I sold the stock, immediately.  My investment guy has specific instructions not to buy bank, insurance company, or insurance agency stocks.

The other day an insurance agent offered to send me his book on insurance.   I told him no.  I can not accept gifts.  I plan to order the book online.  It does seem interesting.

I regularly turn down sports tickets, meal invitations, gift cards, and other freebies.  I do not let agents buy me lunch.  I don’t let them buy me coffee.  I will drink their coffee when we meet at their office.

My clients expect and deserve unbiased advice.  I deliver it from a position of integrity.