Glenn S. Daily Fee-only insurance consulting

The fee-only advantage

Fee-only insurance advisors help people answer questions like these:

- Is my agent recommending a good life insurance policy for me?

- Should I keep this policy that I own?

- Is life insurance a good investment?

- Should I buy an annuity?

- Should I buy insurance for long-term care expenses?

Unlike commission-based agents, fee-only insurance advisors have no financial incentive to convince you to do something. We don't sell insurance products. We help people make informed decisions about insurance, and our clients pay us to give them a complete picture of their options. We have no incentive to downplay risks or to avoid discussing a better alternative.

Almost every decision that you make affects the agent's commission, so how can you be sure that you are getting unbiased advice that is not tainted by the agent's conflict of interest?

For example, some insurance policies don't pay a commission. Some policies let the agent decide what the commission will be; if the agent gets more, you get less. Some policies have a design that makes it foolish to pay more than the minimum premium in the first year.

Fee-only insurance advisors work with your other financial advisors, including your agent, to help you make decisions that are right for you.

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