Should I get insurance from multiple agencies to diversify or just 1 agency? ?

I think this is a topic which warrants quite a bit of consideration. I do agree with Daniel’s standpoint if you’re really looking at simple cost efficiency.

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Coming from a tied agency standpoint, yes it isn’t always top of the line for ALL products. But whilst IFAs do have a strong argument for being efficient. Tied agents have the value of familiarity- yes, yes, many may argue it is irrelevant. Yet the effectiveness of a Financial Consultant is only realized upon a claim.

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So I put it forward that it depends on what you value at the end of the day. Cost-efficiency or Familiarity? Because either ways, you will usual get the value you paid for.

That depends on what you're looking for.

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While the different companies are providing for the same type of insurance - Health, Life, Endowment, ILP - the benefits (fine prints) and the cost (premiums) can be vastly different depending on what you're looking for.

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Hence it makes no economic sense in forming a portfolio based on the products offered by one company. Take the time and understand the market, the options available to you and from there select the products that best suits your unique positon base on the benefits to costs analysis (see an example of a comparison i did for my client).

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To help you save both time and money, working with an IFA will enable you to gain access to the market while ensuring that the person you're working with knows fully what you're looking for as opposed to having to meet 4-5 agents, each of them having their own perception about your current condition.

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If i may do a bit of self promotion, i'm an IFA myself who practices full financial planning. Should you need any help in learning the framework to compare products on your own or need someone to help construct your financial plan, you can visit my website and learn more about my practices here: https://www.sgifa.net/