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Insurance Carrier Broker Agent
Broker (1) A commissioned sales agent who is under contract to and sells the insurance products of more than one insurance company. (2) For a career agent, to submit insurance applications to companies other than the agent’s own company. Bundled Insurance Product A life insurance product in which the mortality, investment, and expense factors used to calculate premium rates and cash values are not identified separately in the policy. Traditional whole life insurance is an example of a bundled insurance product.
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- .. Brokers are professionals who play an important role in mediating between a lender and a borrower. Brokers collect personal information about the client for the lender including employment and ...
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More about Insurance Carrier Broker Agent
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Premium The payment, or one of a series of payments, required by the insurer to put an insurance policy in force and keep it in force. Premium Deposits Amounts that are left on deposit with the insurer for the payment of future premiums. Premium Receipt A receipt that the sales agent gives to an applicant for insurance in exchange for the initial premium payment and that provides a proposed insured with temporary insurance coverage while the application is being underwritten.
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