Insurance Professional

An independent insurance agent can provide options for both premium and coverage because they have access to multiple insurance companies.

Planning

How to Select an Insurance Professional

An insurance professional can discuss the risks you may face and help you determine how to manage those risks. Even though you may have a host of professional advisors in your support system, listen and heed their advice. Something can happen (e.g., an auto accident) that not only results in damages and claims against you but also injures you and hampers your ability to return to work.


The damage from such a scenario can be reduced with appropriate insurance coverage. As a business person and health care professional you need more than an agent or a web site to meet your insurance needs. The licensed insurance professional you deal with from any company is technically an insurance agent, but you should select an agent with the idea in mind they are a counselor and advisor - just like your accountant and your attorney.

Providing Sound Advice for Your Protection

The concept of an insurance consultant is that they understand your unique family, professional and personal situation and how to help you cover the risks to you achieving your goals. This is not to say you should buy every policy an agent recommends to you, but they should help you identify risks and understand how to manage risk through available insurance products. They should also help you compare policies and explain the important features of available alternatives.

In addition to protecting you, insurance can help you achieve some of your financial goals. For example you might consider:

  • annuities as part of your financial plan
  • life insurance to fund the buy/sell of your practice
  • life insurance to pay estate taxes and probate costs upon your death

Your insurance advisor should be an integral part of your support system and be consulted before you make a big decision or incur a loss as a result of an accident. It is also a good idea to meet with your agent at least annually to discuss any changes to your risk profile, review limits on your current policies and make sure your risk management needs are up to date and well managed.

When looking for an insurance professional, consider NCMIC. We have an in-house insurance agency focused on helping DCs with business and personal insurance. Our staff works with DCs every day and so they understand the unique insurance risks you may face. And because we are an independent insurance agency, we work with a nationwide network of insurance companies that can provide options for both premium and coverage.


The information in the NCMIC Learning Center is offered solely for general information and educational purposes. It is not offered as, nor does it represent, legal or professional advice. Neither does this information constitute a guideline, practice parameter or standard of care. You should not act or rely upon this information without seeking the advice of an attorney familiar with the specific legal requirements of the state(s) in which you practice. If there is a discrepancy between the site and an insurance policy you have with NCMIC, the policy will prevail.