How we work, and how we’re paid.
You should know how an agent works and how they are paid before you share a single number. Here is ours, in plain words.
The process
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A 20-minute conversation
By phone or video. You tell us what is on your mind, and we explain how we work. We will not recommend anything on this call, and nothing is decided. If we are not a good fit, or you do not need anything, we will say so.
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A written fact-find
If you want to keep going, we gather the facts in writing. More on that below. This comes before any recommendation, every time.
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A written summary with side-by-side options
We send you a summary of what we heard and two or more options, laid out side by side. Each one lists what it costs, what you give up, how long your money is tied up, and what we would be paid. Sometimes one of the options is to do nothing, or to keep what you already have.
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You decide, on your own time
Take as long as you need. Show it to your family, your attorney or your accountant. We will answer follow-up questions, but we will not chase you.
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After you decide
If you buy something, we help with the application and stay your point of contact. Many policies and annuities also have a free-look period after delivery, during which you can cancel. We will tell you how long yours is.
A written fact-find comes before any recommendation
A fact-find is a structured set of questions about your situation. We write down your answers, and you get a copy to check. It usually covers:
- Your income, monthly budget and expected Social Security or pension
- What you already own: policies, annuities, retirement accounts, and money you can reach in an emergency
- Your health, which affects life insurance pricing
- Who depends on you, and what you want to happen if you die
- How long you can leave money untouched, and how you feel about tradeoffs
- Your tax situation, in general terms (we are not tax advisors, so we may suggest you ask yours)
Why it matters: a product can be fine in general and wrong for you. For annuities in particular, state rules require an agent to understand your situation before recommending one. We do it for everything we offer, because it is the only honest way to give a recommendation.
How we’re paid
Most states have adopted rules based on the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transactions Model Regulation, known as Model 275. It requires an agent who recommends an annuity to act in the consumer’s best interest and to tell you, before the sale, what role the agent plays and how the agent is paid. Here is that disclosure. The rule covers annuities; we give the same disclosure for everything we offer.
Our role
[AGENCY LEGAL NAME] is an independent insurance agency. Insurance products are offered through Shannon Finnegan, a licensed insurance agent. We are appointed with [N] insurers, listed below, which means we can offer their products and not others. We do not work for any one insurer. We are not attorneys or tax professionals, and we do not offer securities or investment advice.
Where our pay comes from
When you buy an insurance policy or annuity through us, the insurer pays us a commission. The insurer accounts for that cost in how it prices the product. You do not write us a check, and we do not bill you. For any product we recommend, we will show you in writing how its costs and charges work.
What you pay us
Nothing. We do not charge a fee for conversations, fact-finds, written summaries or reviews of policies you already own. If you never buy anything, you owe us nothing.
The conflict, stated plainly
Commissions vary by product and by insurer. A product with a longer surrender period, for example, may pay a higher commission. That creates a pull toward some choices over others, and you should know it exists. We may also receive non-cash compensation, such as training or conference costs, from insurers or from the marketing organization we contract through ([IMO/FMO NAME]).
What we do about it
- Before you apply, we tell you how we’re compensated for the product we recommend, and we’ll give you the commission amount in writing if you ask.
- Our written options show the tradeoffs of each choice side by side, including surrender periods and costs.
- You can ask us at any time how we are paid on a specific product, and we will answer.
- We will tell you when a product is not right for you, including when the best choice is to buy nothing.
Appointed insurers
These are the insurers we are appointed with. Each AM Best rating is stated in full, with the date we checked it. We do not show insurer logos unless an insurer has approved it.
| Insurer | AM Best rating | Position on scale | As of |
|---|---|---|---|
| [INSURER NAME] | [AM BEST RATING (DESCRIPTOR)] | [POSITION ON SCALE] | [AS-OF DATE] |
Ratings measure an insurer’s financial strength and ability to pay claims. They are not a measure of how any product will perform. AM Best’s Financial Strength Rating scale has 13 ratings from A++ (Superior) to D (Poor). Ratings are checked on the date shown and can change.
What we promise, in writing.
- We never sell or share your information for anyone else's marketing.
- We call or text only with your permission. Reply STOP and it stops.
- We’ll tell you when a product isn’t right for you.
- We don’t recruit. You are a client here, never a prospect for a sales team.
Questions are free.
Book a 20-minute conversation, or send us a question by email. No cost, no obligation, and we never sell your information.