BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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work only for businesses & have special expertise
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can charge policyholders whatever them want
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usually sell many kinds of policies from different companies
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work for a large insurance co & sell policies only for them
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Detailed explanation-1: -IRDAI norms allow individual agents to sell policies of three insurers – one life insurance company, one non-life insurer and one standalone health insurer.
Detailed explanation-2: -An independent agent is a person that sells insurance products from various companies in the insurance industry. Independent agents and brokers don’t work for a specific insurer. Instead, independent agents work for an insurance agency.
Detailed explanation-3: -As of Feb 22, 2023, the average annual pay for an Independent Insurance Sales Agent in the United States is $89, 734 a year. Just in case you need a simple salary calculator, that works out to be approximately $43.14 an hour. This is the equivalent of $1, 725/week or $7, 477/month.
Detailed explanation-4: -Currently individual agents are only allowed to tie-up with 1 insurer each.