Online Life Insurance Broker: How To Choose?

Online Life Insurance Broker – The Definition

Definition – life insurance broker

The life insurance broker is an independent professional , very often a company bringing together several professionals able to advise and explain the fluctuations of the markets and investments. The online savings broker works on behalf of a client (you), and is, depending on the type of contract signed, responsible for your savings investment.

He observes the fluctuations of the investment funds that make up your contract, will suggest arbitrage to change your portfolio, he will warn you in the event of high risk of loss of performance and of course will advise you on how to improve and diversify your investments.

Where you are good at your professional activity and do not necessarily have time to follow developments in the financial markets, the broker is a financial professional and he knows stock market information on a daily basis.

The rules of the insurance broker

Important information

Choosing a broker may seem simple, but like any investment act, you have to be careful and collect some important information that will help you avoid stressful situations in the future. Choosing your online broker will therefore ask you to verify some information:

The broker must be registered in the single register of intermediaries in insurance and banking – ORIAS . This register informs savers of the professionalism of an advisor.

The broker is a trader; he thus has the status of a natural or legal person. It is part of the category of intermediaries (linking) between insurance product providers and policyholders (or customers requesting a life insurance product). Also, the broker is subject to compliance with the Insurance Code (this code is declared and controlled by the public authorities) – In other words, the consulting firm must comply with the obligations of the Insurance Code: duty, advice and information.

The broker compulsorily purchased insurance for professional liability . He will also be asked to justify a financial guarantee (this one must be taken out with a bank or an insurance company).

The qualities of an online life insurance broker

Asset balance sheet, financial environment and willingness to invest

A good broker also stands out during the first financial exchange, namely, the one that concerns your wealth balance sheet. In fact, as an advisor, a broker must take stock with you and ask you:

  • What is your daily cash flow and how much is available monthly for savings
  • What is your initial available investment? And where it comes from.
  • What is your savings plan – see your investment horizon below
  • If you already have financial assets (investment contracts, savings plans)