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An insurance advisor/agent gives probable customers knowledge about an Insurance Plan and sell Insurance Policies.
There are three types of insurance agents :
1. Life Insurance Agent.
2. General Insurance(Non-Life) Agent.
3. Composite Insurance Agent(i.e. both life and non life agent).
An insurance broker can also be an insurance advisor.
Difference between an insurance agent and an insurance broker are:
1. An insurance agent is employed by only one general insurance company or one life insurance company or both(depending on the type of Agent) but an insurance broker can work with any insurance company(Life or General).
2. An insurance agent is accountable to Insurer(insurance company) but an insurance broker is accountable to customers, i.e. an insurance broker works on behalf of customers to seek a better insurance plan.
3. Both agents and brokers are reimbursed by insurance company.
4. There is no capital requirement for Insurance Agents but Insurance brokers must have capital of Rs. 50 lakhs for direct broker, Rs. 1 crore for reinsurance broker and Rs. 2.5 crore for composite broker.
Generally Insurance brokers works with big businesses whereas agents work with all type of businesses.
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What is the role of insurance advisor in insurance?
An insurance advisor, broker or agent are the same thing.Answer:The role of an insurance advisor is to help you choose the right policy per your needs. He or she serves as the link between a consumer looking for insurance and an insurance company. Their role also includes helping you assess your insurance needs and complete the formalities required to purchase an insurance policy. GEPL, which is essentially a stock broking company, also offers comprehensive insurance advisory service. The best part about their service is that it is totally bias-free and also include claims and settlement assistance.
What is the difference between a life insurance producer and life insurance advisor in MA?
Life insurance producer can solicit and sell insurance. A life insurance advisor, cannot. An advisor can only give advice but not sell insurance.
What does advisor or co-advisor mean?
An advisor is someone in a leadership role who can give advice and guidance, and the co-advisor does the same task with this person.
What is the role of a sales adviser?
the role of a sales advisor is to service to customers.
Can you buy health insurance through your financial advisor?
Usually your financial advisor is there to tell you if you to need to purchase the insurance or not but not there to buy it from. In order to purchase health insurance you would have to go through a different company.
What is a insurance agent?
Its someone you hire to spy on insurance companies to make sure that you get the best spagetti strainer possible An insurance agent is more accurantely refered to as a "consultant or and advisor". This is because a good agent should "advise" you on the best insurance products need based on your needs? This is done through an needs analysis of a clients needs. A personal suggestion is that you seek our an independent agent. This is because, independent agent generally has contracts with several insurance companies and thereby works for the client not the company? Finally, a good insurance advisor once obtained is an advisor for life. Able to assist with all your insurance needs. I would suggest finding an advisor that has an full service insurance agency. Providing Auto, Home, Life, Health, Long Term Care and etc.? To find our more about an insurance advisor and a full service insurance agency? Please visit www.personalsolutionsinsuranceagency.com or call and advisor at (916) 538-6082 (Personal Solutions Insurance)
What is the role of auto insurance brokers?
The role of auto insurance brokers is to sell some type of insurance. For example, the role of insurance brokers is to sell insurance on behalf of different insurance companies.
What motivates you to join a career in insurance as life insurance advisor?
Money (income) and helping people. Freedom and flexibility.
Why is it important to know your clients needs in insurance?
Unless you as insurance advisor are aware of customers' insurance needs, your canvassing to sell insurance policy will be futile. There is a familiar quote in insurance parlance that insurance policies are not purchased but sold. So it's the duty of the insurance agent or advisor to make the prospect aware about his/her insurance needs through financial planning so that he/she is motivated to go for buying insuance policy
What is the role of insurance in business world?
What is the role of insurance in business world
What is the role of a mortgage advisor?
A mortgage advisor is responsible for assisting you in finding what is the best process for you to follow through with when it comes to finding and financing a home.
Is the post of national security advisor is constitutional in India?
The National Security Advisor in India works closely with the Prime Minister of India. The advisor usually comes from the Indian Foreign Service, though there have been exceptions to that. The role of the advisor is seemingly constitutional.
