Life Insurance Agent

By: EconomyWatch   Date: 26 May 2010

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Life Insurance Agent is a person in commercial law who has the authorization to act for the principal to make a relationship legally with those who want to insure themselves through life insurance policies. A Life Insurance Policy allows a certain amount of money as the insurance payment to the family members of the person who has died. Normally in a life insurance deal there are three parties who remain involved; the insurer,the policy holder and the insured. Normally the insured and the policy holder are the same . People who are interested in making Life Insurance policies generally contact Life Insurance Agents to get hold of all the relevant informations about the respective Life Insurance Company he wants to take cover under.

Life Insurance Company Agent's Duties
The Life Insurance Agent normally has some specific duties to go through. This duty includes assembling with new people, getting information about their likes and dislikes and their present status and providing them with adequate information about their life insurance policies and products. The main aim of a Life Insurance Agent is to sell his company's life insurance policies. The Life Insurance Agents also alerts the insurance holders about the premium payment dates. It also updates the policy holders about changes in rates and polices of the Life Insurance Companies.

One can find two types of Life Insurance Agents. Such as:

  • Independent Life Insurance Agent
  • Direct Life Insurance Agent

    Independent Life Insurance Agent: Independent Life Insurance Agents help the potential Life Insurance Holder by exploring the most suitable Life Insurance Policy in terms of money and facilities. He can work for more than a single life insurance company and gets his benefit by means of the commission from the premium and also the monthly salary that the life insurance company provides.

    Direct Life Insurance Agent: Direct Life Insurance Agents can serve for a single company at a time and is allowed to sell the respective company's policies only. They are also paid through fees from the company and the commissions depending on the number of policies they have succeeded in selling.

    Not everybody can become a Life Insurance Agent as one needs to pass in the insurance examination and acquire a license from the state to get the eligibility to sell life insurance policies. A good Life Insurance Agent is someone who keeps record of every thing and his client as much as he can in the days of need.

    To know more about Life Insurance Agents one can go to answers.com, investopedia.com


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