Business, Legal & Accounting Glossary
Individual who is licensed by a state to sell insurance for one or more specific insurance companies.
An insurance agent is the representative for an insurer. He may be an independent agent representing the products of a collection of insurance companies, or he may be a dedicated agent who represents a single company. Some agents specialize in selling certain kinds of policies such as life insurance, or annuities sold to individuals, or various kinds of insurance sold to small businesses or corporations. An agent usually works for an agency.
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.
His insurance agent was very kind to us and he made sure that we felt safe and were going to be okay in the future.
Over the years, our insurance agent has helped us buy Auto, Home, Life, and Renters insurance, all from different companies.
An insurance agent would be desired by an individual to compare insurance products and quotes that best suit the person’s interest, whether it be in the home, auto, health, or life sectors.
Insurance
independent agent
insurance broker
agent
flat commission
Fair Access to Insurance Requirements (FAIR) Plan
expense reimbursement allowance
captive agent
expense allowance
Council of Insurance Agents & Brokers
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This glossary post was last updated: 5th November, 2021 | 0 Views.