A person who represents only one insurance company and is restricted by agreement from submitting business to any other company is termed as .....

INSURANCE AWARENESS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A person who represents only one insurance company and is restricted by agreement from submitting business to any other company is termed as ____

A	Seller
B	Aggregate
C	Captive Agent
D	Service Provider

Explanation:

Detailed explanation-1: -A captive agent is an agent that generally represents a single life insurance company. Products and services are limited to the products of the represented carrier. Some examples of life insurance companies with large, captive agent field forces include Northwestern Mutual and New York Life.

Detailed explanation-2: -Insurance agents can choose to be either captive agents or independent agents. Captive agents work for only one insurance company whereas an independent agent does not work for any particular insurance company but rather can sell policies from an array of companies.

Detailed explanation-3: -Agent. An agent is a person who represents an insurance firm and sells insurance policies on its behalf. Annualized Premium. The total amount of premium paid annually is called the annualized premium.

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INSURANCE AWARENESS