What Does a Life Insurance Broker Do?
A life insurance broker refers to an insurance broker who selects an insurer on behalf of the insured in the life insurance market, handles insurance procedures on its behalf, and receives commissions from the insurer.
Life insurance broker
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- Chinese name
- Life insurance broker
- Foreign name
- Insurance broker
- Complex
- Life insurance broker
- Business
- Brokerage Business
- A life insurance broker refers to an insurance broker who selects an insurer on behalf of the insured in the life insurance market, handles insurance procedures on its behalf, and receives commissions from the insurer.
- Overview of Life Insurance Brokers
- Life insurance is an important type of insurance business. China's current life insurance business accounts for more than the entire life insurance business; various insurance sales methods based on personal life insurance marketing methods continue to emerge. It is believed that with the improvement of the national economic level, safe retirement The life insurance industry whose main content is protection will achieve greater development. Therefore, the role of life insurance brokers representing the interests of policyholders in the progress of life insurance business is becoming increasingly important. Life insurance brokers represent the interests of policyholders in the life insurance market, select insurers for the insured, and handle insurance procedures on their behalf to obtain legal commissions from the insurers. Since the life insurance object of the life insurance is the life and body of the person, its insurance value cannot be determined, the insurance amount can only be agreed by the two parties to the insurance contract, and the life insurance has a long insurance period, high technical requirements, and savings, so it is correct To fulfill the duties of a life insurance broker, a life insurance broker must be familiar with the insurance market, proficient in life insurance expertise, and knowledgeable in medicine, law, and actuarial knowledge in order to obtain the best insurance protection for the insured. It can be seen that it is very difficult to become a qualified life insurance broker.
- In foreign countries, life insurance brokers are mainly engaged in the brokerage of group life insurance and high-income pension insurance in company employee benefit plans.