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Working with an insurance intermediary service allows the independent agent to review many quotes and offer their clients the best policy options available. For their efforts, independent agents are paid a commission (remuneration). [2] In addition to insurance policies, agents often sell mutual funds, annuities, and products that address ...
To further complicate things, there are different types of agents. A captive insurance agent works exclusively with one insurer, selling only that company’s products (e.g., a State Farm agent ...
Insurance Brokers vs. Insurance Agents. broker in insurance. There are two types of insurance agents, and both work slightly differently than insurance brokers. Captive agents are professionals ...
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory body in order to provide advice.
Just as there is a potential conflict of interest with a broker, an agent has a different type of conflict. Because agents work directly for the insurance company, if there is a claim the agent may advise the client to the benefit of the insurance company. Agents generally cannot offer as broad a range of selection compared to an insurance broker.
Insurance agent: There are two types of insurance agent; “captive” agents, who only work with one insurer, and “independent” agents, who can help you get quotes from many insurers.
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