The set up of this company is as follows:- Provides travel insurance via website and through travel agents. Underwriters are in England. They sell, administer and underwrite on behalf of the insurance company. Are they classified as insurance brokers and what are the travel agents then? --Tot...
If you’re interested in becoming an insurance agent, but aren’t specifically sure what the job entails, this article gives you an idea of what working as an insurance agent is like. Insurance Agent Job Description Insurance agents sell and negotiate life, health, property, or other types ...
There is also "agency by necessity," in which an agent is appointed to act on behalf of a client who is physically or mentally incapable of making a decision. This is not always a case of incapacitation. Business owners, for example, might designate agents to handle unexpected issues that...
Agents have a deep understanding of the insurance coverage that the carriers they represent provide. However, they are not responsible for helping to assess personal or business risk. That’s where insurance brokers come in. What is an insurance broker? Insurance brokers help facilitate insurance ...
A captive agent is an insurance agent who only works for one insurance company and is paid by that one company, either by salary, commission, or both.
If you’re in the market for life insurance, you can buy a policy online, directly through an insurer or with the help of an agent. Part of understanding how to shop for life insurance smartly is knowing how agents get paid. » MORE: How to choose between a life insurance agent and...
Is there ever a time I shouldn’t file an insurance claim? Even though it can be beneficial to go through the insurance claim process for the financial and legal protection it provides, there are a few times you may consider skipping it: ...
The first guidance on accounting for specialized transactions applicable to insurance agents and brokers was contained in a proposed industry accounting guide issued by the AICPA in August 1991. The proposed guide general...
An insurance agent may also mention the following protections as part of full coverage insurance: rental reimbursement, roadside assistance, guaranteed auto protection (GAP), tire damage, towing and breakdown coverage. You get the idea. Every scenario is covered by another add-on to your basic big...
A Single Premium Immediate Annuity (sometimes referred to as an "SPIA") may be the right annuity for you if you are looking for payments that begin right away and continue for the rest of your life or for a specified period of time. The annuity is purchased from an insurance company ...