Independent insurance agents are individuals who either own or operate their own private business selling health, accident, auto, and life insurance. These types of agents are licensed by the state to do business and can be found in person or online. An independent insurance agent can work with an insurance company that is not associated with them, such as AIG, which sells policies directly to consumers.
An independent insurance agent is usually the first point of contact between the consumer and insurance company. These types of brokers provide information on policies available from the company. Independent agents, also referred to as independent insurance sales agents, usually sell a wide variety of financial products and insurance products, such as long term health insurance and general, personal insurance. The insurance agent will help the consumer find the right policy for the individual and/or their family. When working as an insurance agent, you are responsible for making sure that the individual receives the proper medical attention they require. This is done by gathering as much information as possible about the condition of the individual and what types of treatments might benefit them the most. Information regarding current conditions, past health conditions, medications used and any existing conditions should all be collected and reviewed. Once an insurance agent has gathered the necessary information, they are then able to present it to the insurer. It is up to the insurance company to either accept or decline the insurance agent's recommendation. If an insurance agent does not provide the required information, the insurance company may not be able to provide the individual with coverage. One of the major advantages of working as an independent insurance agent is that you do not have to pay commission to your insurance agent. Some insurance companies, however, will still require a percentage of the sale price to be paid by the client in order to maintain their commission. For example, if a customer chooses to go with AIG rather than another insurance company, the client will pay a fee to the independent insurance agent before the insurance agent receives their commission. To become an independent insurance agent, it is recommended that you do some research and talk with your state insurance department for requirements. You can even go to an insurance school to get your license. Most states require that independent insurance agents must have at least a year of experience in the insurance field. This allows an individual who is self-employed to work independently without needing to consult an agent. Becoming an insurance broker is a business and like any other business requires diligence and determination. As with any profession, there are a lot of potential drawbacks to becoming an independent insurance agent.
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