According to the insurance dictionary, insurance brokers are “representatives of the insured and not of the insurance company. The broker’s actions are not the responsibility of the company and notifying the insured to the broker is not the same as notifying the company.
The broker searches the insurance market for a company where he can place the insured’s business with the greatest coverage at the best price. Here you can find about best insurance brokers in Hong Kong at Trusted Union and also get a free quote.
In this way, the life insurance broker will act for you, the potential insured, to find for you the cheapest, most suitable, or perhaps easily available life insurance option from many different companies.
Life insurance brokers should be friendly and willing to tell you the company they work for if you ask them. But of course, he must be very familiar with life insurance and various kinds of life insurance.
You also want to work with a life insurance broker who is transparent, which means if you ask, they will always tell you how they will be compensated if you take out a certain life insurance policy through them.
You should also look for a broker with at least five years of experience – as most life insurance brokers start out as an affiliate agent for a company and therefore you should not risk being misinformed by an inexperienced person seeking expert advice.