TV’s ‘The Bachelor’ and Other Celebrity Insurance Agents

Sean Lowe may now have 26 lucky ladies vying for his affection as the latest incarnation of 'The Bachelor.' But before he was rejected by Emily Maynard on the latest season of 'The Bachelorette,' he listed his profession as "Insurance Agent." Apparently he sold insurance for State Farm, but according to celebrity gossip site Wet Paint, he has since become part owner of an online custom furniture and fashion store in Dallas, Texas called Factory Girl.

Sean Lowe might have left the insurance game, but his brother-in-law, Andrew Shull, is a third-generation insurance agent for State Farm out of Mckinney, Texas and he used to play for the Detroit Lions of the NFL. Still, these aren't the only celebrities who have sold or are selling insurance. Below is just a smattering of the celebrities who've lent their star power to selling insurance:

FaithLife Financial: Simplified-Issue Pricing

FaithLife Financial offers two non-medical life insurance simplified issue policies.

The first policy, Essential Life, offers lifetime protection and the policy is paid-up at the end of a 25 year period. The second policy, Essential Life Plus, provides lifetime protection and the premiums are payable for life.

BankRate.ca: Student accident insurance

Insurance offer round the clock coverage
This type of insurance not only covers accidents that happen at school, but anytime anywhere, even during summer holiday. Coverage is 24/7.

"It's a fairly niche product and there are not a lot of companies that offer it in Canada," says Lorne S. Marr, founder of LSM Insurance in Markham, Ont. "It tends to be sold through direct marketing and there is not a lot of broker networking involved."

Most programs in Canada are underwritten by Vancouver-based Industrial Alliance Pacific (IAP) and Hamilton, Ont.-based Reliable Life Insurance.

Reliable Life Insurance operates the parent-friendly website, InsureMyKids.com, where families can choose from a variety of plans -- Bronze, Gold, Silver and Platinum. The IAP Kids Plus program includes the Active Plan, as well as the cost-conscious Value Plan.

(BankRate.ca: Student accident insurance continued...)

BMO’s Children’s Life Insurance Plan

BMO Insurance offers a children's life insurance plan sold directly via its call center and not its broker network. The plan is called the “Headstart in Life Plan.”

AXA Insurance policies

Pluses:

1.They have a built-in Extreme Disability Benefit on their term insurance policies.
2.They have a unique Disability Insurance program for blue collar workers.

Minuses:

1.They do not have a Term 30 policy.
2.Their Universal Life band is not competitively priced in any age bracket.

Back to AXA Insurance

AXA Insurance News

Funny Insurance Commercials 3

The first six humorous TV spots with insurance as the main point comes to an end with the last two videos. This time the entertainment comes from the USA and the Netherlands.

Nationwide

Nationwide Mutual Insurance Company groups together a number of insurance companies that deal with everything from life to fire insurance. Anything can happen to you - and that's exactly what their advert is about.

Centraal Baheer

Another participant from the Netherlands in our mini-series gives us this somewhat exotic commercial. This one is part of their campaign of short, witty commercials, which has run for about 15 years, showing people in pretty unpleasant situations. One of the funniest ever is related to - acupuncture treatment. What should you do when one choice is obviously worse than the other? Let's call Apeldoorn! ("Even Apeldoorn bellen" in Dutch - Apeldoorn is the company's hometown.)

Funny Insurance Commercials 2

As promised, we continue our funny insurance commercials mini-series with another two episodes, this time with insurers from the Netherlands and South Africa.

Delta Lloyd

This spot from less known Dutch insurance company (part of the Delta Lloyd Group, owned by Aviva) shows how much confidence you can gain with a proper life insurance policy in your pocket.

1st for Women

Some seven years ago people in the South African Telesure Investment Holdings realized that women are much safer drivers than men and tailored a whole new range of product for them under the 1st for Women brand. They also released this spot for men to understand why they are not as great drivers as they may believe.

Funny Insurance Commercials

Although the world of insurance may seem boring and rather conservative to the onlookers, We—agents, advisers, brokers - simply those who live in the world of insurance rates, quotes, and premiums—we know the truth! Insurance is an exciting and vibrant industry.

You may not have realized that insurance TV commercials are some of the funniest out there. We are constantly fishing for the best ones to share with you in our new series on funny insurance commercials. Enjoy the first couple from Sweden and Canada and feel free to submit your favourite insurance-related TV or print ad in the comments.

Weird Insurance: Collectibles

Hands up anybody who has ever collected anything in their lives. Probably most people have, at one time or another, collected a variety of things such as stamps, bubble gum stickers, Zippos or toy sets from breakfast cereal boxes. Usually, after a number of years, boxes full of various treasures have ended up in the attic, covered in dust, or even finding a permanent home in the garbage bin.

For sure, there are some among us that have never given up this sometimes strange habit and have turned it into a lifelong hobby. There is, however, a certain breed of collectors, who have taken this hobby to a higher level and have diversified their portfolios by investing in valuable coins or stamps.

So, why is there a need for special insurance coverage?

Consider this: normal household insurance is quite adequate if you just need to cover everyday items such as TV’s, computers etc. But collectibles are a different matter entirely. In certain situations low value collections may be covered, but submitting a claim to the insurer is fraught with difficulties and can often be unsuccessful. Most household policies normally only cover the material cost of lost or damaged property. It is relatively easy to claim for a damaged front door or smashed window, but try claiming for a priceless Blue Mauritius stamp.

So, Mister Collector, what should you do if you have a stamp or coin collection that is worth more than the house that it is kept in? Are you having sleepless nights worrying about its safety? Fortunately, there is an easy solution in the form of specialist collectibles insurance coverage. These policies are affected by some of the bigger players such as AIG (through their Private Client Group), Allianz (via previously mentioned Fireman’s Fund policy) and also by a number of smaller providers.

As an avid, collector, you should consult with a licensed insurance broker and should probably look into to selecting an ‘all risk’ policy which would cover your beloved collection for things such as theft, flood, fire, normal wear and tear and even a nuclear disaster or mysterious disappearance.

 New items that are added to your collection can usally be added to your policy by means of a phone call. You can even do this before you go to collect your new piece so that it is insured before you even get your hands on it.

Obviously nothing can replace your cherished collection, should it be destroyed by fire or stolen by some hard-hearted thief. However, the pain can be lessened somewhat, if you have adequate insurance cover in place for the full value of the collection.

Please note this above is provided solely for informational purposes. It is not intended to be financial or other professional advice or an opinion of any kind. You are advised to seek specific advice by a licensed insurance broker. 

How Insurance Brokers are Paid

All insurance advisors, both captive agents (those working for one company) and independent brokers (those working for multiple companies) are generally paid commission when an insurance policy is put in force.

It's cruicial to note that the agent/broker is paid by the insurance company. However, the media and consumer skepticism has done a lot to create misunderstanding. The following are points often misunderstood regarding the payment process:

Life insurance commissions drive up the price of the policy- Life insurance policies, whether sold via salaried employees or self-employed brokers, have distribution costs. The insurance company includes the price of distribution inside the price of their policies.

Companies that use multiple distribution models for the same life insurance product, eg. RBC Insurance or Manulife, charge the same premiums regardless of how the consumer buys the policy. A $200,000 Term 10 policy from Manulife will be the same rate whether the policy is bought via their call centre, website, or an independent broker.

Two advantages of working with a broker are the following:

a) He/she can advise you on the best type and amount of coverage.

b) He/she can shop the market for the best premium.

Life insurance commissions are negotiable- Life insurance commissions are not negotiable. It's not like buying a car or a house. Once again, the commissions are built into the distribution costs of the policy and cannot be altered.

Whole Life or Universal Life policies pay higher commissions than Term Life policies - Life insurance commissions are based largely on the premium of the policy, i.e. the higher the premium, the higher the commission. Whole and Universal policies have higher initial premiums than Term policies, but the Whole and Universal policies are bought once. Term policies increase in cost as the insured gets older, so they will buy multiple term policies over their lifetime. Each time a new policy is bought, a commission is paid, but more importantly to the consumer, each time a policy is bought the applicant is older, so they're paying a higher premium. If his/her health has changed, the premiums will be significantly higher and/or the coverage will not be available. It is key that the insured have a keen understanding of how much life insurance they need and how the different life insurance policies work.

Some companies pay higher commissions than others - Commission rates can vary slightly from one company to another, but given that insurance commissions are a fixed cost within the policy, this should have no impact on the consumer decision.

Make sure the broker works with multiple carriers, some brokers, while independent, only work with two or three. Our brokers have access to 15 different life insurance carriers, ensuring you get the best possible rate.

If you have any questions about broker commissions, don't hesitate to call us at 1.866.899.4849. You can also get a free quote from our online Term Life Instant Quote Page.