by darnardo1 » Tue May 12, 2009 12:27 am
I have read the definition of a career agent:
The most common form of agency-building intermediary for the L/H industry. These agents operate on a commission basis and are organized under either a branch system or a general agency system. They are provided extensive support from their affiliated insurer/s.
What is the difference between a career agent and an agency building-agent?
can a career agent be both independent and exclusive (tied to 1 company)?
I suspect "career agent" simply refers to the structure i.e. general agency or managerial agency.
Thanks for all the help...
The most common form of agency-building intermediary for the L/H industry. These agents operate on a commission basis and are organized under either a branch system or a general agency system. They are provided extensive support from their affiliated insurer/s.
What is the difference between a career agent and an agency building-agent?
can a career agent be both independent and exclusive (tied to 1 company)?
I suspect "career agent" simply refers to the structure i.e. general agency or managerial agency.
Thanks for all the help...
Posted: Fri May 15, 2009 05:04 pm Post Subject:
A "career agent" is an any agent that has a contract to sell the policies of a specific company and is treated as a W-2 employee of that company. Their contract will determine what they can or can't do outside of this company. Here are three examples from three insurance companies of career agents.
State Farm: Their agents can only sell State Farm products.
Northwestern Mutual: Their agents can only sell outside products if their products don't make sense for the client.
Mass Mutual: Their agents aren't limited, but they do have to sell a minimum amount of Mass Mutual business to maintain their contract.
Posted: Fri Oct 11, 2013 04:36 pm Post Subject: Nationwide
Can anyone out there tell me the difference between a "Financed Agent and Non-Career." Talk about goble-de-gook, no one at Nationwide's headquarters can explain those terms to me. I am getting ready to retire and I need to get an exact explanation of these terms. I am a full-time employee on disability( at this time) and I don't think they know how to address my particular situation. Please, somebody please tell me the difference between the two! Thank you
Posted: Fri Oct 11, 2013 06:23 pm Post Subject:
no one at Nationwide's headquarters can explain those terms to me.
If you can't get a straight answer to your question from the home office, how can you rely on any other information they provide?A financed agent is one who receives direct economic support from the insurance company. This usually means the agent is a captive or "career" agent. As a captive agent, he/she represents only that insurance company and its products (and those other companies with whom a sales agreement has been made).
A non-career agent would simply be an independent agent who has the freedom to represent multiple insurers, and would not receive any financial support other than commissions and perhaps some advertising (co-op) money..
Add your comment