NJ State Type of Insurance
- Home Owner Insurance
- Life Insurance
- Auto Insurance
- Personal Insurance
- Health Insurance
- Disability Insurance
- Business Insurance
- Pets Insurance
Find more about the history of insurance
- Agents represent either specific companies or a number of companies.
- An agent sells you the policies of the company he or she represents.
- They receive commissions on their sales.
- Brokers represent and work for you.
- They aren’t appointed by companies.
- Brokers survey the market and bring back options for you to review.
- Many businesses use brokers because they can sample a broader range of available coverage, and put together the best package for specific business and coverage circumstances.
- Brokers receive commissions on their sales.
- They must disclose their fees to you.
Type of Insurance
Home Owner Insurance
Homeowner’s insurance (obtain a policy when you buy your own home). This is a must-have insurance policy – simply put, if you own a home, you insure it.
Car insurance is a collection of policies that are put in place to protect you against financial loss as regards your vehicle. Read more >>
Life insurance, like disability insurance, is a means to replace your income for those who rely on you until something catastrophic happens and you are no longer there for your family.
Insurance against the risks of death, injury, illness or against expenses incidental to the latter. Insurance purchased for personal or family protection.
This insurance replaces your income in the event of an accident or sickness.
It provides coverage through your working years or for a benefit period that you choose.
While the Affordable Care Act, more commonly referred to as “ObamaCare” has forced everyone to obtain health insurance or pay a fine for “going bare”, the simple fact remains that good healthcare without insurance would be impossible to afford.
Choosing Financial Adviser
In choosing your financial adviser, it should be a good fit. You may be partners in planning your long-term goals and interests for many years to come. Whether you choose a fee-based financial adviser, or one who is paid by commissions, or a combination of both, put the monetary aspect out of your mind and first and foremost, look for an adviser who has the expertise and skills to lead you down a path of financial security into your golden years. Get advice on the insurance you need and don’t need, get advice on how to protect your assets and make sure you deal with a professional adviser.
- Look for a financial adviser who is a certified financial planner (CFP). They’re licensed and regulated, plus take mandatory classes on different aspects of financial planning.
- Consider the planner’s pay structure. A planner who earns money based on commission rather than a flat, hourly rate could have an incentive to steer you in a particular direction.
- Read the code of ethics that your financial planner adheres to. Look for the word “fiduciary” and language that requires planners to look after your best interests.