4 Ways Insurance Agents Rip You Off

5 minute read

Insurance is a tricky business. With so many options it's challenging to know who to trust and find the right policy for you without spending hours filling out forms and jumping through hoops.

When looking at purchasing an insurance policy you should understand these 4 ways that insurance agents are ripping you offwithout meaning to!

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1. They don’t know what the best option is FOR YOU because they only know about their product

Most insurance agents are only familiar with one company’s disability insurance options. This means they don’t know if there is something better out there for you which can lead to:

  • You only having access to what their company sells

  • Lack of trust that you are getting a personalized policy

  • Biased opinions about your options

  • No other options/other quotes from multiple companies

  • And more...

Disability insurance is a complicated product, and each insurance company is a little different. Since you are unique, you need to see all of your personalized options.

Pattern on the other hand will show you ALL of your options, side-by-side. That way you can easily eliminate the ones that don’t make sense and you’ll KNOW you got the best product for you (which always saves you money).

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2. They are SO SLOW

As a busy resident, fellow, or attending physician, time is the last thing you have to spare. Comparing all your options is a challenging task that involves:

  • Calling each insurance company individually

  • Sitting down and figuring out how the policies from each company compare to one another.

  • Meeting with other agents to get second opinions

  • Loads of paperwork

And even at the end of that lengthy process, you still won’t be able to trust that you got the right policy for you since you won’t get the insider’s view on insurance companies, This means making a decision that’s best for you is more complicated and time-consuming. And we know that as a busy resident, fellow, or attending extra time is the last thing you have.

But at Pattern we take your quote request and send it to the top six own-occupation companies on your behalf so you don’t have to waste your valuable time calling insurance companies and comparing policies.

Think of it this way, when you’re booking a flight you find the best options and save time when you use a flight aggregator like Kayak or Expedia. We do the same thing but for disability insurance.

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3. They don’t have access to the same discounts

We’ve helped thousands of doctors over the years so we have access to discounts that many agents don’t have.

This exclusive access to resident and fellow discounts can save doctors thousands of dollars throughout their career!

For example, male physicians can save 20 percent on their disability insurance premiums. That would give them nearly $500 in yearly savings, and nearly $15,000 in savings over a 30-year career.

The savings are even better for female physicians. They can save up to 45 percent on their premiums. That means they could save up to $1,620 in a year, and nearly $50,000 throughout a 30-year career.

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4. They don’t really know the in’s and outs of disability insurance

Most agents selling disability insurance focus on other things like:

  • Financial planning

  • Whole life insurance

  • Sales

They usually don’t know the ins and outs of a disability insurance policy, making it difficult for them to keep up with all the industry updates for every industry. (But why would they? It’s not their specialty.)

Just like you should never see an ENT when you tear your ACL, you shouldn’t see a “general financial guy” or “life insurance guy” when you need a product as complicated as disability insurance.

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TL;DR: it’s not that they’re trying to rip you off, but...

Insurance agents that work with just one company aren’t able to compare or personalize your disability insurance policy. They simply don’t know they aren’t providing you the best service.

They force you to waste your valuable time calling around and comparing policies yourself, and at the end of that you probably still won’t have access to resident and fellow disability insurance discounts.

At Pattern, we know that doctors can feel overwhelmed by everything on their to-do list. It’s stressful to spend a ton of time looking for disability insurance and still not know if they have the best policy for them.

Our fast, easy, and personalized process gets them the protection they need without wasting their valuable time.

We know doctors have more important things to do with their time than worry about disability insurance.

So if you’re interested in disability insurance, request a quote now so we can show you a better way to buy disability insurance.