YOU ASK:
What is the definition of Independent Agent?
WE ANSWER:
An Independent Agent is one that may sell insurance products from more than one insurance company.
As an independent agent, he has the capacity to pick and choose the products that he will sell to his clients, based on their specific needs. The independent agent earns by commission and is usually self-employed.
Also known as a broker, he also owns the clients, and represents them to the insurance company, by helping them with service issues and in settling their claims. The independent agent also acts as a consultant, by helping the client understand the different policies and can also act as a one-stop shop for all the clients' needs.
Was this insurance question and its answer useful?
| Not a bit | Very useful |
Have an Insurance Question? Ask For Insurance
More insurance terms around independent agent:
- Indeterminate Premium Life Insurance Policy
- Indexed Life Insurance Contract
- Individual Retirement Account (IRA)
- Inflation Guard Clause
- Inland Marine Insurance
- Insolvency
- Institutional Investors
- Insurable Interest
- Insurable Risk
- Insurance
- Indemnify
- Incurred Losses
- Incurred But Not Reported Losses (IBNR)
- Increasing Term Life Insurance
- Incontestability Provision
- Income Protection Insurance
- Income-Date
- Immediate Annuity
- Identity Theft Insurance
- Hurricane Deductible