Marketing Insurance and Financial Products on the Internet

Earning an income in insurance or finance takes consistent effort and a desire to succeed. Our world is saturated with various commission generating opportunities, and it can be difficult to wade through all of the available programs. Many of these programs simply do not work or they are heavily dependent on recruiting others to “join”. It is very important that insurance professionals generate cash flow, in a way that is comfortable, credible and cost-effective. Earning the maximum amount of money in the least amount of time is a fundamental principle. Finding a system that is not overly complicated, also makes success much more likely. For these reasons, technology is a way to elevate your insurance practice and further your career.

Because Insurance Marketing revolves around selling intangible products, there is no inventory to maintain and it is usually free to partner with reputable companies. Most carriers provide all the necessary marketing materials for local presentations, which helps save time. Having a small advertising budget to start pay-per-click advertising campaigns for your practice helps, but it is possible to spend nothing but time with respect to building your website.

Every situation is different, so it is advisable to gain access to numerous product offerings. Underwriting is based on age, tobacco, height, weight, health conditions, lifestyle and sometimes the amount of coverage can limit your offerings as well. Having the right product for each situation can increase your ability to satisfy your clients needs, without sending them to the competition.

Most carriers pay out generous commissions and allow applications to be taken electronically, so these solutions are cost-effective to implement. This makes it possible for effective marketers to earn a substantial income on each conversion. Plenty of companies have simplified issue products; which makes it possible to submit applications and receive commissions the same week.

Marketing the product is relatively easy and insurance leads make it simple to gain qualified prospects immediately, so it is possible to start making money right away. Insurance professionals should generate targeted traffic within local markets and drive them to their personal website. It also helps to utilize article marketing, blogging and word of mouth to get the message out about your business.

These are very effective ways to make good money from home or elevate your practice with very little risk. The business tasks are not hard to grasp, and many professionals start bringing in new revenue right away. Partnering with a brokerage that provides “A” rated carriers, technology and systems will empower you to generate a consistent income on the Internet.

Financial Rights – Helping You Know Your Rights For Financial Products

It is very important to be aware of your rights when dealing with any kind of financial product or service. The actual rights you are entitled to will vary according to the product, but to make the most of them you will need to be aware of them in advance, as it may effect the decisions you make. Don’t wait until there is a problem to find out what your rights are!

In most case, your rights are stronger if you have taken advice before you make a commitment than if you did not. If you are negligently or fraudulently advised, you have some recourse to protection. If you did not take advice, then the responsibility is yours. If in doubt, take advice.

In general terms, you have a right to expect:

  • The firm to be financially sound and trustworthy
  • Advisors and salespeople who are competent and knowledgeable
  • Correct information on which to base your decision
  • A clear complaints procedure
  • Compensation if something goes wrong outside the normal risks of the product

In terms of specific products, the rights you are entitled to vary.

Banks and Saving Accounts

The FSA ensures that banks and building societies are financially sound. Banks and building societies abide by a voluntary banking code, which sets out standards for ensuring you get the information you need to make an informed decision and that you are treated fairly. They must help you if you wish to make a complaint by having internal procedures in place, and letting you know what they are. They must also belong to the Financial Ombudsman Service.

Loans and Credit

Moneylenders such as bank and insurance companies are regulated by the FSA, who make sure they are sound and trustworthy. Other companies (such as loan companies) have to be licensed by the Office of Fair Trading. The Consumer Credit Act of 1974 ensures you have access to certain information. Loans from banks and building societies are covered by the voluntary banking code, which includes procedures for making a complaint.

There are other lenders who may not be covered by any regulation. If you have a complaint against one of these companies, you can contact your local Trading Standards Office, but your rights are much reduced.

If you buy goods or services worth more than 100 pounds using your credit card, the credit card company is jointly liable, along with the supplier, if the goods turn out to be faulty. They have a joint responsibility to put matters right.


Insurance companies are all regulated by the FSA. However, general insurance advisors need not have any particular license or training. Many, however, choose to subscribe to the General Insurance Standards Council (GISC), and you may prefer only to deal with GISC members. They have agreed to abide by the GISC General Insurance Code for Private Customers, which includes formal procedures for making a complaint.

Should an insurance company be unable to meet its commitments, then you may be covered by the Financial Services Compensation Scheme.

Life insurance policies, investments and personal pensions are all covered by the Financial Services and Markets Act, which ensures that all companies are trustworthy and competent. They must also have formal complaints procedures, give you suitable advice, and provide you with certain key information, both before and after you buy.


Nearly all mortgage lenders subscribe to a voluntary code, as described in more detail by The Mortgage Code Compliance Board, which also has a list of lenders who subscribe. This includes formal complaints procedures, and regulations ensuring you are being treated fairly and have the information you require to make informed decisions.

Lenders who abide by this code have agreed to only take customers from advisors who also abide by the code.


As has been famously covered in the media of late, pensions are a complex area and are not always the risk-free product they used to be. The decision as to what kind of pension to subscribe to is probably the most crucial financial decision you will make in your life.

The FSA publishes a whole series of guides to pension issues, which provide useful information on how to choose and maintain your pension effectively.

Why It Is Important to Be Financially Literate

The main selling point of any financial products is their potential gain. Most people only see one side of the coin; they don’t realize that higher potential return equates to higher risk.

Statistically speaking, we almost always end up buying financial products and solutions from someone we like or trust in person. This is not wrong but it just isn’t right if we base our decision solely on this factor.

Financial agents are divided into 3 types:

  1. Tied financial agents are agents attached to a financial institution agency force. For example, insurance personnel, unit trust consultant, bank’s personal financial advisor. They are product focused and normally compensated by commission.
  2. Independent financial advisers(IFA) are personnel providing comprehensive financial solutions. This includes value-added advisory service (investment needs analysis, tailored financial plan, wills writing, retirement planning) and financial products (insurance, investment ). They are compensated by advisory fees and product sale commission.
  3. Financial coaches are personnel providing high degree of personal interaction to assist a client in financial awareness and profiling in order to achieve financial independence. They are usually compensated by advisory fees only.

Financial agents will take a comprehensive evaluation on your financial position and goals. Then, they will identify the gaps and subsequently propose one or more financial solutions to help you achieve your goals. They emphasize on long term engagement with the client.

The paradox of “having your best financial interest in mind”

No one will ever have your best financial interest in mind better than yourself.

If you walk into a bank, and ask the financial advisor to recommend you the investment product with the highest potential return, who is to blame if you realize you are being charged a 10% fees over your 6% investment return?

Answer: Your own ignorance

Can you guarantee your agent is going to serve you diligently after the sales even if you don’t buy additional products?

Answer: No

Then why pay 6% upfront commission while you just need to pay 2% commission via a DIY online investing platform to invest in the same unit trust?

Answer: Because either you don’t know how, don’t know what you want, don’t have time, don’t care or don’t want to ask.

I am 200 percent sure this is not the attitude you adopt in your professional career. Therefore, do not be so ignorant when it comes to managing your own money.

Let me reiterate this that financial agents are trained extensively on the art of sale, not on having your best financial interest in mind.

But our own ignorance is certainly not bliss here.

So what can you do?

Everyone should get educated on personal financial concepts. You must have the very basic financial literacy so that you can evaluate your financial needs and gaps. Then only you engage your financial agent and tell him or her what you need. Let them earn their commission, but always strive to minimize your investment cost before we even talk about earning a return. Always read the fine prints of any financial products Believe me, whichever type of financial agents you choose to engage in the future, he or she would definitely have more respect for you.