Difference between Insurance Agent and Insurance Broker
Insurance Agent and Insurance Broker often look the same, but there is a difference between the two that one needs to understand and know. As an Insurance Policyholder, this little knowledge will help you make the best use of insurance service and get the most profit out of it.
Let’s find about each of them in brief
Who is an Insurance Agent?
An Insurance Agent works individually and has the rights to sell you a variety of products like property insurance, financial products, life insurance, health insurance etc.
Insurance Agent basically acts as a mediator between the insurance company and the person who is going to take the insurance.
Who is an Insurance Broker?
An Insurance Broker, on the other hand, helps you in selecting the best and most suitable insurance policy amongst the insurance companies.
Insurance Broker can give you complete information and present status of various insurance companies and guide you to select the best product from them.
Both Insurance Broker and Insurance Agent, as said above, have there own perspective and importance. What matters most is how much knowledge you have on the field that you are going to invest. Both of them can guide you and provide you the best insurance products. But at the end, the decision to whether take that product or not is in your hand only. Never run for a product without any inquiry from your end or from your friends and relatives. You may take their advice too as who knows they might have already invested in that product or have some information related to that product.