Insurance jargon

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PostPosted: Wed Jun 03, 2009 7:20 am   Post subject: Insurance jargon  

Captive Agent

Exclusive Agent

Affiliated Agent

Career Agent

I have read the definitions of all the agents above but still am not 100% on the differences between them. If someone could explain it in lamens terms I'd really appreciate it...

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PostPosted: Sat Jun 06, 2009 3:16 am   Post subject:   

Captive Agent: Can only sell the products of one company. They are an employee of the insurance company.

Exclusive Agent: Synonymous with Captive Agent

Career Agent: They are an employee of the company. They may or may not be captive. A captive career agent can only sell the products of one company. A non-captive career agent can sell the products of multiple companies. When they are selling the products of their career company, they are working as an agent. When they are selling other products, they are working in the capacity of a broker.

Affiliated Agent: I don't know.

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