A life insurance broker is another term for life insurance agent. The difference being, some agents are captive and can only offer you coverage from one carrier.
A broker has contracts with multiple carriers and can help you shop for the best rate and underwriting. Brokers can be very helpful.
A Life Insurance Broker is someone who works with multiple insurance companies versus an agent who typically works for only one insurance company. A Broker has the ability to "shop" around life quotes to specifically meet your needs. Not all companies have the same cost for the insurance they offer so working with a broker, especially if you use a needs analysis, can be your best asset in making sure you are covered.
In the United States, a life insurance broker generally refers to a person or agency who can sell products from multiple companies. The word "independent" is sometimes used, versus "captive", which refers to an agent who can only sell from one company.
The UK enacted a law in 1977 defining a broker as being able to sell from more than one company, but then dropped it later on.
.JPG){kind=avatar}
A broker has contracts with multiple carriers and can help you shop for the best rate and underwriting. Brokers can be very helpful.
The UK enacted a law in 1977 defining a broker as being able to sell from more than one company, but then dropped it later on.