Define: Insurance Agent

Business, Legal & Accounting Glossary

Definition: Insurance Agent



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Full Definition of Insurance Agent


An insurance agent is an individual approved by the state to sell insurance products. An insurance agent is principally a sales professional also referred to as “producer”. An insurance agent is likely to sell one or a number of insurance products, such as life, property and casualty, health, disability, or long term care. Insurance policies sold by an insurance agent may be used to protect both individuals and businesses from natural disasters, accidents, theft, and death. There is a subtle difference between an insurance agent and an insurance broker. An insurance broker or independent insurance agent will sell insurance on behalf of many companies in order to offer their clients the best rate possible. Conversely, an insurance agent, also known as a captive agent, represents a single insurance company. Today, an appropriately licensed insurance agent may also sell various comprehensive financial products, such as mutual funds, variable annuities, and other securities.


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https://payrollheaven.com/define/insurance-agent/
Modern Language Association (MLA):
Insurance Agent. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 05, 2020 https://payrollheaven.com/define/insurance-agent/.
Chicago Manual of Style (CMS):
Insurance Agent. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/insurance-agent/ (accessed: April 05, 2020).
American Psychological Association (APA):
Insurance Agent. PayrollHeaven.com. Retrieved April 05, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/insurance-agent/

Definition Sources


Definitions for Insurance Agent are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th February, 2020