A contract that involves the insured paying a premium to an insurance company in exchange for protection against the risk of a large loss.
All annuity sales require an insurance license, and some require both insurance and securities licenses. Licensing is not a huge challenge, but there is time, effort and cost involved in the process.
Understand Your Source of Information
At the most basic level, financial services sales require a couple of things:
The following are a few key concepts to think about, look for, or listen to when developing a financial plan:
Information Gathering: This is one of the first steps in the financial planning process. Your financial advisor should gather quite a bit of information about you and your current financial status.
There are some basic financial planning steps you can take on your own, and they do not require financial planning software or the input of a financial professional.
