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Zander Insurance claims to be an independent life insurance brokerage (like us here at Goldsmith). They have a wonderful reputation in the life insurance industry. Dave Ramsey, a big financial guru, always and only recommends Zander Insurance to his clients and listeners. Dave Ramsey has a pitch to buy term and invest the difference with Zander Insurance. While we like the idea of investing and insurance, we do not believe that every situation is black and white, just like we don’t think Zander Insurance is in your best interest.
It’s easy to go to a site that offers convenience, but a legitimate independent broker is an intermediary between you, the customer, and 50+ companies. Zander Life Insurance makes their assertions of service and price. Then, to prove they are the most competitive, their site offers an online term life insurance quote engine. You enter some basic information about yourself, and, presto – the “most competitive” quote you can find in the marketplace appears. However, you shouldn’t take this at face value. Make sure you take a good look at the fine print before you make a decision.
As with any “engine,” you need to look “under the hood” to see if you are really getting what you need. Goldsmith offers tons of reviews on different companies – such as Banner, Primerica, New York Life, and AARP – for you to look over before making your final decision on your life insurance coverage. We can also help you with more specific needs such as finding the best company with a no medical exam life insurance policy! No matter your needs, just ask Goldsmith!
Zander Insurance calls themselves a broker. They claim “unparalleled commitment to service, the best products on the market, and a principled commitment to debt-free strategies,” so it is easy to think that they really offer the best rates. It is interesting to note that others have tried their quick quote engine, which, in certain cases, only produces about 7 insurance carriers. All of these carriers are known in the industry to pay higher than usual commissions to agencies.
If you don’t believe this, try it yourself. You probably won’t find quotes from companies like AXA Equitable, Prudential, or Met Life. This being the case, then, you – the customer – are not getting the absolute best service. Every dollar saved by you, the client, can then be placed into your own financial savings plan.
Smokers are another category of customer who should not assume they’re getting the best service. While smoking in the US is on decline for obvious financial and health reasons, there are still people who smoke. Just like anyone else, they also want life insurance.
A quick trial of Zander’s engine reveals that they do not have the market’s absolute best rates. This is because the best carrier for smokers is a company that pays lower commissions. Learn more about getting the best life insurance rates for smokers HERE.
When you call the number, are you actually speaking with Jeff Zander or are you speaking with a call center representative who has a quota to hit and treats you like a number? When you contact a call center, are you actually getting the best possible service and guaranteed lowest prices? Life insurance is a major purchase and one that should not be left to chance. Make sure you are not treated as a number when you are shopping for the best rates on life insurance.
Do you know that Zander Insurance spends millions to be Daves insurance company? While most of Ramsey’s advice about saving money and paying off debt is wonderful, sound suggestions you have to wonder about a potential agenda by the radio host regarding his “clients.” Dave Ramsey’s show is a syndicated radio show with paid advertisers, Zander Insurance being one of if not the largest. Rumors have always swirled regarding how many millions are spent each year to remain “Dave’s suggestion” as to where you should go to buy life insurance. The morale of the story is to shop around and make sure the broker you are dealing with has your best interest.
So now what do you think of Zander Insurance? So despite these issues, at least the customer is given a chance to get some market information about term life insurance. Throughout life, there are major financial obligations, and term life insurance is the best policy to address the concerns of the client. Term policies provide a financial cushion if a life changing event occurs. As we grow older, our responsibilities change, and there is no reason to be locked into paying for a larger financial contract because the major your financial obligations have changed and are the need to replace your income is much smaller. Term life policies are set for a defined time frame, and will only pay if the policyholder dies when the policy is in effect.
The features related to cash policies are different. They provide a financial cushion but are more permanent in nature (lasting the life of the insured or until they are 100 years old). They also accumulate savings (also called a cash value) but are the residual benefit to the insurance carrier when the policyholder dies. Many financial advisers believe that the cash values is not a real benefit since insurance should be for financial protection if an event occurs, and not a savings account.
From a consumer perspective, we tend to look down upon the life insurance industry. We don’t like dealing with agents, we don’t like talking about life insurance, and, to top it off, when companies, agents, brokers and financial pundits misinform the public it the makes hard working honest people in the insurance business look bad. I try my best to always do what’s in your best interest first and never my own. While Zander is not out and out recommending bad policies they are not giving their clients the benefit of all the information that would allow someone to make the best decision for their needs. This is why I cannot recommend that anyone use this company for life insurance quotes. When you start out with only a select few life insurance companies you are starting out with a bad foundation for helping a client.
Before You Buy Zander Insurance, Make Sure You Read This | Goldsmith Insurance