A life insurance policy provides the payment of the policy to the family on the death of the policyholder. The clients usually contact the insurance agents to know the insurance policy and even to buy the most appropriate one.
These specialists sell and serve the policy. Therefore, you can say that they represent the insurance company. A representative specializes in insurance policies and offers the best solutions to people. He has to perform many functions. He has to meet new people, get to know their present conditions and then give them information on the policy products, which suit them the most. His other functions include reminding of his clients to pay the premium and even inform them about any change in the interest rates. Insurance policies are legal and technical in nature. They can be very confusing for those who do not have specialized knowledge about it. Therefore, you have to consult these agents who can help you understand and go through the legal terms and conditions.
An insurance representative can be divided into two categories. This division is based on the companies they are working for. They are of two types - direct insurance policy agents and independent life insurance agents. Direct life insurance agent works with a single insurance company and sells its insurance policies only. He gets the commissions and fees for selling the insurance products to the policyholder.
Independent agents work with two or more companies at a time. He gets a commission from each paid premium. He gets a percentage of that premium. He gets a salary for serving the policy of his client. As they cover maximum companies, these agents offer assistance to their client to get the most beneficial policy.
The insurance representatives have to undergo an examination process to get recruited by the insurance company. It is essential for a person to clear his insurance exam and then, get a license from their state to serve as a policy agent. He cannot sell the policy without having a license.
A representative should be competent enough to perform all the functions of an insurance agency. A good life insurance agent has in-depth knowledge about the various insurance policies and can explain them to his clients. He should be able to answer all their queries and explain the technical jargons and legal aspects of the policy. He should not pressurize his clients to buy this product in any aspect. It is a duty of the insurance representative to maintain the report of the policies. If the policy is lost, it is his responsibility to advise the policyholder how to claim his insurance. Thus, a life insurance agent plays a pivotal role in the process of insurance policy. The sale of the policy and its maintenance - all important functions are performed by him.
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