Is the service from a Life insurance broker free?
Hi, can you tell me if using an independent life insurance broker is free and draw from paid by commision just close to a Real Estate Agent?? Thanks
Answers:
On a homeowners insurance policy, the agent might procure the entire first year's premium as "commission". So , yes, it is a bit like a realty broker..
they usually get paid by commission from doesn`t matter what company they sell you something from.
if they sell you complete life insurance, for example, their commission may be as high as 80% of your first year's premium.
The service of an insruance broker is the same as the services of a Reasl Estate agent. Both do not charge a consultation fee and they are compensated by a commission base on the size of the sale when they make one. The biggest difference is that the commissions an insurance borker recieve come from the company, and do not come out of your pocket. IE: a Real Estate Agent will transport a % of what you sell your home for, meaning you don't in truth get all the money that your home sold for. An isurance agent get paid out of company profits, so when you get your claim amount or repeal your policy, you get the full amount...no commissions are deducted for the agent.
The commission amount vary depending on the company and the actual product. Source(s): Financial Advisor/Insruance Broker.
Related Questions:
Answers:
On a homeowners insurance policy, the agent might procure the entire first year's premium as "commission". So , yes, it is a bit like a realty broker..
they usually get paid by commission from doesn`t matter what company they sell you something from.
if they sell you complete life insurance, for example, their commission may be as high as 80% of your first year's premium.
The service of an insruance broker is the same as the services of a Reasl Estate agent. Both do not charge a consultation fee and they are compensated by a commission base on the size of the sale when they make one. The biggest difference is that the commissions an insurance borker recieve come from the company, and do not come out of your pocket. IE: a Real Estate Agent will transport a % of what you sell your home for, meaning you don't in truth get all the money that your home sold for. An isurance agent get paid out of company profits, so when you get your claim amount or repeal your policy, you get the full amount...no commissions are deducted for the agent.
The commission amount vary depending on the company and the actual product. Source(s): Financial Advisor/Insruance Broker.
Related Questions:
- Does Alaska own free medical insurance?
- Why do I enjoy a consciousness alike race buying 22 inch rims are like peas in a pod relations who want free condition insurance?
- Is in that really free vigour insurance contained by other countries? If so, why don’t we hold it here?
- If i live contained by a rich democratic powerful country why don't i own free nurture, full insurance and no taxes?
- Where can i capture a free (or cheap) tetanus shot surrounded by philadelphia beside no insurance?